The Edmonton Economic Diversity Index measures the diversity of Edmonton’s economy by comparing the city’s employment share by sector to that of Canada’s. The result of this measure is calculated based on the City’s Municipal Census question - Economic Diversity. The question gauges Edmontonians’ employment by sector, based on the North American Industry Classification System. As the City has limited control over employment and the labour market, this index is considered an indicator.
A more diverse economy would help Edmonton withstand the “boom and bust” cycles of an energy-based economy by showing growth in new, underperforming and high potential sectors. The measure will help monitor the resiliency of Edmonton’s economy and gauge progress on efforts to:
- Grow Edmonton’s industrial sectors
- Support startups and entrepreneurship
- Catalyze commercial economic development
- Support small business
- Improve service to the business community
Data sources: Statistics Canada, Table 282-0008 - Labour force surveyestimates (LFS) by North American Industry Classification System (NAICS)
Explanation of Performance
According to the Winter 2018 Metropolitan Outlook 1 by the Conference
Board of Canada, the 2017 Economic Diversity Index for Edmonton CMA
is 0.89, which is a slight increase from 2016.