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July 2, 2008
For immediate release

34th Annual Statistical Review Provides Snapshot of the Island’s Economy, Population and Social Make-up

Provincial Treasury

A snapshot of the Island’s economy, population and social make-up is now available with the release of the 34th edition of the Province of Prince Edward Island Annual Statistical Review. Today, Minister Wes Sheridan announced the publication of the 2007 Review, which contains complete and extensive socio-economic information for Prince Edward Island.

“This Statistical Review has always been widely distributed because it provides an accurate depiction of what is happening right across our Island,” said Minister Sheridan. “Having this detailed information about our population, labour force, personal incomes and industry is absolutely crucial for business planning and determining public policy.”

PEI highlights from 2007 include:

• Island population totals 138,627;

• Economic growth of 2.0 per cent;

• Employment increased by 1.0 per cent to average 69,300 for the year;

• Unemployment declined to 10.3 per cent, a 29-year low;

• Total labour incomes increased by 5.5 per cent;

• Farm cash receipts valued $364.0 million;

• The value of retail sales increased by 7.7 per cent;

• Housing starts totaled 750.

The 2007 PEI Annual Statistical Review can be viewed online at Printed copies will be available soon from Island Information Service, 11 Kent Street, Charlottetown (tel. 1-902-368-4000, fax 1-902-368-5544).

Media Contact: Jennifer MacDonald-Donovan
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