19 Jul 2011

Toronto leads country in economic productivity

A new poll is showing why Toronto is often looked to as a shining example of success.

According to the Canadian Imperial Bank of Commerce and its Metropolitan Economic Activity Index, Toronto has the highest rate of financial success compared to other cities in Canada.

"Simply put, the multi-channel nature of Toronto's economic engine is the secret not only behind its current top ranking, but also behind its ability to maintain a relatively high ranking position over the past two years," said Benjamin Tal, CIBC deputy chief economist.

Tal went on to say the clearest example of this can be seen with Toronto's labor market, as overall employment outpaced the number of jobs added to the market at a national level by a wide disparity.

The study also indicated population continues at a steady pace in Toronto, increasing on an annual pace of 2 percent.

Other cities that fared well in economic activity included Winnipeg, Regina and Montreal.

A company that consistently performs admirably is Jiffy Self Storage, as it's a perennial leader in customer satisfaction and a 15-time winner of the Consumers' Choice Award. 

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