Economic profile: Regional Municipality of Peel, Ontario
Overview
Peel RegionFootnote 1 has a population of 1,451,022, consisting of 15% seniors (65 and older), 69% working-age adults (15 to 64) and 17% children (under 15).
The key sectors of the economy in Peel Region, which account for 38% of the jobs in the region, are
- retail trade
- transportation and warehousing
- manufacturing
There are 678,660 employed residents, of which 59% are immigrants.Footnote 2
The economy generates a total of $79 billion in household and business incomes, which amounts to $54,349 per resident.
General age structure – 2021
| In the region | In the province | |
|---|---|---|
| % children (under 15) | 17% | 16% |
| % working-age adults (15 to 64) | 69% | 66% |
| % of seniors (65 and older) | 15% | 19% |
Sustainability
In order to support local services such as health care and social programs and maintain a good standard of living for everyone in the region, it is essential to have more working-age adults than seniors. Peel Region has more working-age adults than seniors compared to the average in Ontario.
From 2011 to 2021, Peel Region experienced
- a 12% increase in population, compared to an 11% increase in the province
- a 40% increase in the population’s proportion of seniors, compared to a 27% increase in the province
- a 1.5% decrease in the population’s proportion of working-age adults, compared to a 4.1% decrease in the province
Population structure – Changes from 2011 to 2021
| Changes in the region | Changes in the province | |
|---|---|---|
| Total population | +12% | +11% |
| Proportion of children | -16% | -6.7% |
| Proportion of working-age adults | -1.5% | -4.1% |
| Proportion of seniors | +40% | +27% |
By 2031, without immigration,Footnote 3 the region could experienceFootnote 4
- a 2.8% increase in population
- a 6.2% decrease in the population’s proportion of working-age adults, which could limit the availability and quality of local services
- a further increase in the population’s proportion of seniors by 42%, potentially changing the demand for local services, including health care and long-term care
No immigration – Possible changes from 2021 to 2031
| Changes in the region | Changes in the province | |
|---|---|---|
| Total population | +2.8% | +0.1% |
| Proportion of children | -11% | -12% |
| Proportion of working-age adults | -6.2% | -6.3% |
| Proportion of seniors | +42% | +32% |
Prosperity
The region relies heavily on working-age adults to keep local services running smoothly and to maintain a good standard of living and economic growth. Immigrants can help by filling job gaps and bringing new skills and ideas, which keeps the local economy strong.
From 2011 to 2021, Peel Region experienced
- a 10% increase in workforceFootnote 5 size, compared to a 7.8% increase in the province
- a 6.3% increase in the number of immigrant workers, compared to a 9.5% increase in the province
- a total of 114,685 retirements,Footnote 6 which amounts to 15% of the 2021 workforce, compared to 16% in the province
- a change in the average income per resident from local jobs relative to the province, which is 9.2% lower than the average in Ontario in 2021
Economic changes from 2011 to 2021
| Changes in the region | Changes in the province | |
|---|---|---|
| Workforce | +10% | +7.8% |
| Immigrant workers | +6.3% | +9.5% |
| Retirement as % of 2021 workforce | 15% | 16% |
| Wage income generated from jobsFootnote 7 | +34% | +37% |
By 2031, without immigration,Footnote 8 the region could experienceFootnote 9
- a 33% decrease in workforce size
- a 26% decrease in the number of jobs
- an increase in the proportion of seniors in the population from 15% to 21%
No immigration – Possible changes from 2021 to 2031
| Changes in the region | Changes in the province | |
|---|---|---|
| Workforce | -33% | -36% |
| Retirement as % of 2031 workforce | 26% | 28% |
| Number of jobs | -26% | -31% |
Unless otherwise noted, all statistics are from the 2011, 2016 or 2021 editions of the Statistics Canada Census, and all calculations are from the Canadian Centre for Economic Analysis.
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