The latest look at Manitoba through the lens of economic indicators shows we still struggle in most of the areas considered in the 2018 Manitoba Prosperity Report from the Manitoba Employees Council (MEC).
The report analyzes 28 key indicators of economic prosperity and compares them to the performance of our closest provincial neighbours – British Columbia, Alberta, Saskatchewan and Ontario. In 15 of 28 indicators, relative to the four provinces, Manitoba finished at the bottom. Manitoba finished second last in 6 of the 28 other indicators. In 21 of 28 indicators therefore, Manitoba finished amongst the bottom two provinces.
“Although we are moving in the right direction,” says William Gardner, Chair of the Manitoba Employers Council, “the 2018 Prosperity Report indicates we still have a long way to go before we realize our full economic potential. We need a smaller public sector and a larger private sector. We need to reduce taxes which stifle economic activity, particularly income and payroll taxes. A serious concern is Northern Manitoba, where pending reductions in the Mining Sector and completion of Hydro projects could signal a major downturn if not addressed.”
The latest report concludes by suggesting if we want a brighter future tomorrow in Manitoba, we need increased investment that will lead to greater economic growth, increased innovation and higher productivity. You can read the full 2018 report by clicking here.
Representing 24,000 individual employers and over 300,000 Manitoba jobs, the Manitoba Employer’s Council is Manitoba’s largest confederation of employer associations.