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Variation in employment during economic slowdown - Greater Montreal ranks at top of North America's largest metropolises

Variation in employment during economic slowdown - Greater Montreal ranks at top of North America's largest metropolises

The metropolitan region of Montréal has fared better than the other large urban centres in North America during the economic slowdown felt over the past year. Greater Montréal has in fact recorded the shortest drop in employment (-0.4%) among the twenty largest metropolises in Canada and the U.S., for the period from June 2008 to June 2009. As a comparison, during that same period, the Toronto Region, the only other large Canadian urban centre in the "Top 20", ranked fifth with a variation of -2.1% in employment.

The large public and private investment projects under way, its rich industrial diversity and the dynamic character of its high tech sectors are some of the key factors that contributed to sustained economic activity and limited loss of employment in the metropolitan region of Montréal.

Montréal International's President and CEO, André Gamache, stated that "during a period of economic slowdown, like the one we have been experiencing since 2008, an investment destination that offers both a robust economy and an excellent cost-benefit ratio, as the Montréal Region does, represents a winning option for foreign companies. From this perspective, despite the difficult global context, Greater Montréal still constitutes a top choice destination on the North American continent."

    -------------------------------------------------------------------------               Employment variation between June 2008 and June 2009           Top 20 largest metropolitan regions in Canada and the U.S      Ranking        1      Montréal       -0.4 %     11     Boston            -3.7 %        2      Dallas         -1.2 %     12     Los Angeles       -4.0 %        3      Seattle        -2.0 %     13     San Diego         -4.0 %        4      Houston        -2.0 %     14     San Francisco     -4.7 %        5      Toronto        -2.1 %     15     Chicago           -4.8 %        6      New York       -2.6 %     16     St. Louis         -4.9 %        7      Phoenix        -2.9 %     17     Miami             -4.9 %        8      Philadelphia   -3.1 %     18     Riverside         -5.8 %        9      Washington     -3.2 %     19     Atlanta           -7.7 %        10     Minneapolis    -3.6 %     20     Detroit           -9.7 %      Source : Bureau of Labor Statistics and Statistics Canada     Compilation : Montréal International      ------------------------------------------------------------------------- 

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 workers, supporting the development of innovation and metropolitan clusters, and 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 billion in foreign investment to Greater Montréal. From these investments, more than 40 000 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 3 000 qualified foreign workers. To learn more, please visit MI Web site at:

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