Economy
Most jobs in Quebec City are concentrated in public administration, defence, services, commerce, transport and tourism. As the provincial capital, the city benefits from being a regional administrative and services centre: apropos, the provincial government is the largest employer in the city, employing 27,900 people as of 2007. CHUQ (the local hospital network) is the city's largest institutional employer, with more than 10,000 employees in 2007. In 2008, the unemployment rate in Quebec City was 4.5%, well below provincial and national averages (7.3% and 6.6%, respectively).
Around 10% of jobs are in manufacturing. Principal products include pulp and paper, processed food, metal/wood items, chemicals, electronics and electrical equipment, and printed materials. The city hosts the headquarters of a variety of prominent companies, including: engineering firms BPR and Roche; investment fund Cominar; Industrial Alliance, La Capitale, Promutuel, SSQ, and Union Canadienne in the insurance sector; Beenox, Frima Studio, Sarbakan and Ubisoft in the computer games industry; AeternaZentaris and DiagnoCure in pharmaceuticals; Amalgame, Cossette and Vision 7 in marketing and advertising; Institut National d'Optique (INO), EXFO in technology not forgetting the Desjardins Group, the area's largest employer in the financial sector.
The security and defence industries are quite prominent, and have given birth to an industrial pole: Technopôle Defence and Security.
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Famous quotes containing the word economy:
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)