MONTREAL, June 10 /CNW Telbec/ - Among the three largest metropolitan areas in Canada, Greater Montréal is the only one that has managed to recover all the jobs lost during the 2008-2009 recession. Better still, the Greater Montréal region posts an impressive recovery rate of 218%, which means it has to date created twice as many jobs as it lost during the economic downturn. Toronto and Vancouver have so far only recovered 69% and 72% of their lost jobs, respectively.
The current level of employment in Greater Montréal, which represents some additional 44,500 jobs compared to the summer of 2008, is therefore significantly higher than its pre-recession peak. This noteworthy performance is in large part due to sustained job growth since October 2009, which has risen every month. This performance means the Montréal metropolitan area has achieved the best results among the three largest urban areas in Canada since last fall. As of October 2009, Greater Montréal has posted an average monthly job growth rate of 0.5%, compared to 0.2% in Toronto and 0% in Vancouver.
"The way Greater Montréal has quickly caught up in its job level, as it emerges from the slowdown over the past two years, demonstrates just how robust the economy is in our metropolitan area. Its strength lies on the dynamism of its high-tech industries, its industrial diversity, the quality of its highly-skilled workers and the strong partnership between the players in the business community, the academic and institutional community, and the public sector," said Acting President and CEO of Montréal International, Luc Lacharité.
About Montréal International
Montréal International (MI) was created in 1996 as a result of a private/public partnership. Its mission is to contribute to the economic development of metropolitan Montréal and to enhance its international status. Its mandates include attracting foreign investment, international organizations and qualified foreign workers, as well as promoting the competitive and international environment of Greater Montréal. Montréal International is funded by the private sector, the Communauté métropolitaine de Montréal (Montréal Metropolitan Community), the City of Montréal and the Governments of Canada and Québec.
Since its creation, Montréal International has helped to attract more than $7.5 billion in foreign investment to Greater Montréal. From these investments, more than 43 000 jobs have been created or maintained. To date, MI's activities have also allowed more than 25 international organizations to establish themselves in the city and attract more than 4 000 qualified foreign workers. To learn more, please visit MI Web site at: www.montrealinternational.com.
SOURCE Montréal International
For further information: For further information: Benoît Lefèvre, Communications Advisor, Montréal International, Tel.: +1 514 987-9323, Cell: +1 514 677-2498, firstname.lastname@example.org