In Prince Edward Island, there is a high degree of stability, single digit turnover and an enviable work ethic. As well, Prince Edward Island is a desirable relocation destination and has demonstrated the capacity to encourage skilled workers to return to the province.
Labour Costs
Recent data indicates that Prince Edward Island has some of the lowest labour costs in Canada. Statistics Canada shows that PEI’s average weekly salary in October 2008 was is $654.72. Compared to the national average for the same period of $801.24, this difference could translate into considerable savings for companies settling on PEI. Source: Statistics Canada, Survey of Employment, Payrolls, and Hours
A few statistics:
PEI has an 10.7 percent unemployment rate (November 2008).
Source: Statistics Canada, Labour Force Survey.
53.5 percent of the PEI workforce has post secondary training. Source: Statistics Canada, 2006 Census.
The work force is loyal. The average job tenure is 8.6 years. Source: Statistics Canada, Labour Force Survey.
