The economic situation on the archipelago improved between 2016 and 2018, according to the latest data from the Quebec Institute of Statistics/Institut de la statistique du Québec (ISQ).
In its most recent update of the portrait of the territories' economic vitality index on March 4, both the Municipality of the Islands and the Municipality of Grosse-Ile show a higher index than in last year's report.
"This economic vitality index consists of the geometric mean of normalized variables for three indicators: the rate of workers, the median total income of individuals, and the average annual population growth rate over five years. Each of these indicators represents an essential dimension of vitality, respectively the labour market, living standards, and demographic dynamics," the ISQ website states.
"The economic vitality index was produced every year from 2002 to 2014. Since then, it is updated every two years by the Institut de la statistique du Québec," it adds.
But the latest local indicator remains negative, indicating a shortfall in comparison with other cities in Quebec.
The two municipalities rank fifth and eleventh respectively in the region, compared with twelfth and sixteenth in 2018, the year of publication of the previous report.
Over this period, the median annual salary in the Islands increased by about $4,000 compared to nearly $2,000 for Grosse-Ile.
The proportion of the so-called "working population," that is, workers aged 25 to 64, is also increasing throughout the Islands.
Indicators of average annual population growth, calculated over five years, have thus improved, although their value remains negative.
The Territorial Vitality Index is calculated using data on the labour market, standard of living and population dynamics.
Here is the report from CFIM:
To learn more about the latest ISQ data, visit statistique.quebec.ca/en/document/economic-vitality-index.