Economy: Industry Composition

October 23, 2022 04:42 PM - Comment(s) - By communications

Vital Signs Data

Community
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Sense of Belonging
Accessibility
Arts Culture Recreation
Quality of Life
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Industry Composition
Income
Employment / Workforce
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Collaborative Impact
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Collaborative Impact

Industry Composition

Updated July 7, 2025

Sustainable Development Goal (SDG)
SDG 8: Ensure sustained and inclusive economic growth to drive progress, create decent jobs for all and improve living standard.

Employment
Business Growth
Business Size
Agriculture Sector
Employment

​Employment by Sector

The chart below shows total employment, including both employees and self-employed individuals, and average wages in each sector.

Employment concentration highlights which industries are strong or dominant in a region. A baseline of 1.0 means employment in that industry is equal to the national average. In PEC, the dominant industries are agriculture (3.65), accommodation and food services (1.8), arts, entertainment and recreation (1.79), and public administration (1.55).

Sectors employing the most people in 2024 are health and social assistance (1,529 jobs), accommodation and food services (1,500), and public administration (1,333).

Employers are currently facing workforce shortages, skill gaps, rising input costs, and increased debt loads (Canadian Chamber of Commerce). Additionally, the shortage of affordable housing is making it more difficult to attract and retain workers.

Source: Lightcast
NAICS is a North American Industry Classification System used in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data.

Business Growth

​Business Growth & Decline

Despite the challenges of pandemic restrictions (2020-21) and ongoing labour shortages, job growth in PEC has been strong, outpacing many comparable economic regions.

Employment is growing in accommodation and food services, driven by the strong tourism economy. Construction is also seeing growth, supported by numerous new housing developments in the area.

Source: Lightcast

Business Size

​Business Size

Like most regions in Canada, the majority of businesses in PEC are small. Of those businesses with employees, 60.5% have fewer than five employees (micro businesses) and 99.6% have fewer than 100 employees (small businesses). There are only 4 establishments with 100 or more employees.

Source: Lightcast

Agriculture Sector

​Agriculture Sector

The COVID-19 pandemic added to farming challenges in the form of labour shortages, disruptions in the food supply chain, and rising input prices. Trends identified in previous census cycles, such as industry consolidation and aging of farm operators, have continued in 2021. Farmland continues to be lost to non-agricultural land uses like urban development and aggregate extraction.

Source: Statistics Canada Agriculture Census

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