Laval’s economic dashboard presents a set of key indicators that track economic activity in the region. It provides a clear and up-to-date overview of local trends, including employment, exports, demographics, and the real estate market.
Laval's Economy
Gross domestic product (GDP) measures the wealth created in Laval. It represents the total value of goods and services produced within the city, without double counting, over a given period, regardless of the origin of the businesses or capital.
Investments, also known as fixed assets, refer to expenditures made by businesses and government agencies to acquire machinery, equipment, buildings, and other assets with a useful life of more than one year. They contribute directly to the region’s economic development.
The number of businesses is calculated using the concept of statistical locations. Each business location is counted. For example, a retail company with 10 stores and 1 corporate headquarters counts as 11 locations.
The size of a business is determined based on the number of employees reported by the business to the Quebec Business Register (REQ).
Labor market
The labor force includes all employed persons as well as those who are unemployed but available for work and actively seeking employment.
The term "employed persons" refers to all individuals who hold a paid job—whether full-time, part-time, permanent, temporary, or self-employed—and who have been engaged in gainful employment during a given period.
The unemployed are people who are out of work, available for work, and who have been temporarily laid off, are actively looking for a job, or are set to start a new job soon. The unemployment rate is the proportion of these people in the labor force.
A job opening is a position that needs to be filled, for which an employer is actively seeking a candidate. It can be full-time or part-time, permanent or temporary, and specifically excludes subcontractors and external consultants.
A position is considered vacant if it meets all of the following conditions:
- The position is vacant as of the reference date (the first day of the month) or will become vacant during the month.
- There are tasks that need to be completed this month for this position.
- The employer is actively seeking external candidates to fill the position.
The vacancy rate represents the proportion of unfilled jobs relative to the total number of available jobs, including those already filled.
The number of jobs includes all filled and vacant positions. Employees include full-time and part-time workers, permanent, temporary, and seasonal workers, as well as owners, directors, partners, and other active executives of incorporated businesses. Excluded are, among others, self-employed individuals, external consultants, and employees on unpaid leave.
Exports
An exporting business is a business that sells outside Canada. The definition of a business is the same as that used for the number of businesses (see above).
The value of exports corresponds to transactions involving goods through sales, barter, or gifts or grants to foreign countries.
Real Estate Market
The groundbreaking ceremony marks the start of construction on a building, usually once the foundation work is sufficiently advanced.
The vacancy rate represents the proportion of space available for rent in a given market. A low rate indicates strong demand relative to supply, while a high rate means there is more space available (lower demand relative to supply).