Prior to 2008, Montreal enjoyed a booming economy with high consumer spending and low interest rates. In 2008, the recession hit and Montreal experienced a subsequent drop in construction and manufacturing. Fortunately, the impact was short-lived here, and signs of growth were evident again just a year later. By 2011, Montreal was enjoying marked gains in several industries including services, construction, and manufacturing.
Manufacturing, and particularly investment-related manufacturing, is expected to drive employment increases in Montreal in the coming years. Transportation equipment, metal products, and machinery will be the fastest-growing manufacturing industries.
Montreal, QC Job Opportunities
The vast majority of job opportunities in Montreal are for full-time positions. While full-time job opportunities have grown, part-time job openings have decreased. Business closures in transportation equipment maintenance, pharmaceuticals, printing, and appliance manufacturing have decreased job opportunities in these areas. However, job growth is expected in many exciting new fields including video game software, aerospace, and food.
The services sector is responsible for the majority of jobs in Montreal, accounting for over 79 per cent of the city's employment. More than a quarter of Montreal workers are in consumer services, and nearly half of these work in retail. Manufacturing is the next largest employer at 12.5 per cent.
Montreal, QC Employment Trends
The employment outlook in Quebec is favourable. The province has seen 1.7 per cent job growth over the last year. This has taken place almost exclusively among full-time positions. While the employment rate in Canada remained steady at 61.4 per cent, employment in Quebec rose from 59.4 per cent to 60.1 per cent. Montreal's employment rose 1.1 per cent over the same time period.
Quebec's unemployment rate decreased moderately from 7.9 per cent in May 2014 to 7.6 per cent a year later. However, unemployment increased moderately in Montreal, growing from 9.2 per cent to 10.6 per cent over the same time period.