NEWS UPDATE:

...Capital investment in Newfoundland & Labrador totalled about $11 billion in 2013 ...Major investment projects in Newfoundland & Labrador include the $14 billion Hebron offshore oil project, the $7.7 billion Muskrat Falls hydro project and the final year of construction at the $4.25 billion Long Harbour nickel processing facility ...Statoil?s recent oil discovery offshore Newfoundland in the Flemish Pass is the company?s largest discovery ever outside Norway. The Bay Du Nord prospect is estimated to hold between 300-600 million barrels of recoverable oil ...The economy of Newfoundland & Labrador grew by 5.8% in 2013 the highest growth of all Canadian provinces. Economic growth in Canada for the same period was 1.7% ...The economy of the greater St. John's area grew by 4.4% in 2013 ...Newfoundland and Labrador was the only Canadian province to post stronger business sector labour productivity growth than the United States between 1998 and 2011 ...Average weekly earnings in the St. John?s metro area have increased 34 per cent since 2007, the highest growth rate in Canada

 

IEEE OES Article: PDF Format...click to download



Province eyes new strategy on ocean technology:  click here


Dwight House radio interview:
  /userfiles/files/videos/dh_interview.mp3

 

 

St. John's Economic Update:

* Real GDP in the St. John's Census Metropolitan Area (CMA) grew by 4.4% in 2013 largely due to rising oil
revenues caused by production increases at all three of the producing fields....
* Despite the strong gains in GDP, employment in the St. John’s CMA decreased by 1.1% (or 1,200) to
108,000 in 2013 and the labour force fell by 2.3% to 115,000.....
* In 2013, the St. John’s CMA once again recorded an annual population increase. As of July 1, 2013 the
population of the St. John’s CMA is estimated to have been....
* Personal income increased 4.7% to $9.6 billion, driven by wage increases.....
View the complete report on-line: http://www.stjohns.ca/sites/default/files/files/publication/Economic%20Review%202013.pdf

 

 

St. John's Economic Update:

*Viking Supply Ships (VSS) has opened its first Canadian office in St. John’s to support its offshore service
work in Newfoundland and Labrador (NL)......
* The vacancy rate for private apartments in the St. John’s census metropolitan area (CMA) increased to
3.2% in October 2013, remaining above the ten year average of 2.5%....
* A report on salary trends for 2014 suggests salaries in Newfoundland and Labrador are now higher than in
any other Atlantic Canadian province...
* The seasonally adjusted Unemployment Rate for St. John's metro was 5.9% in November 2013, a
decrease of 1.0 points over November  2012....
View our complete newsletter on-line:

http://www.stjohns.ca/sites/default/files/files/publication/Economic%20Review%202013.pdf