Quebec Overview Quebec has experienced modest growth accompanied by some significant fiscal problems in the last few ...
Quebec has experienced modest growth accompanied by some significant fiscal problems in the last few years. In 2012 and 2013, Quebec's government engaged in significant deficit spending which caused the province's debt to grow faster than the provincial population and economy. High taxes contribute to this problem, and Quebec's debt contributes more to its economy than any other Canadian province.
In Quebec, the tax rate is high and household income is modest, meaning their economy and job creation is lower than it could be, in part because of a lack of enterprise risk-taking. Though the 2015 Quebec government is taking steps to repair Quebec's economy and debt, the process will be long and may have unforeseen impacts on jobs in Quebec and some of Quebec's major industries.
Quebec Job Opportunities
Quebec has a diverse economy which is dominated by the services industry. Natural resources provide Quebec with certain economic advantages. Forestry and mining have contributed considerably to Quebec's economy.
In recent years Quebec has focused on clean energy as an economic driver, and its efforts have paid off. An estimated 97 per cent of Quebec's energy comes from renewable sources, and Quebec has become a leader in global energy knowledge, especially in hydroelectricity, wind, and biomass energy.
Quebec Employment Trends
As of May 2015, Quebec had a 7.6 per cent unemployment rate, higher than Canada's unemployment rate of 6.8 per cent. Since 2010 Quebec has not seen the significant reduction in unemployment that Canada has overall, though the province has recently made small declines.
Quebec's technology sector, including telecommunications, aerospace, life sciences, and IT, employs a significant number of Quebec's workforce. Jobs in Quebec in technology industries have positive projections through 2016. Professionals looking for IT jobs and web jobs should still consider Quebec's strong tech industry as a place to look for employment, despite Quebec's debt.