The economy

Fostering sustainable growth and creating opportunities for businesses and workers to thrive.

Overview and measurements

Last updated: November 17, 2025

A thriving economy provides opportunities for businesses and individuals, fostering resilience and growth. By promoting innovation, trade and investment we are committed to building a sustainable economy that benefits every community.

 

Targets

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Increase the growth rate of average weekly earnings

2025 target → 3.0%
2026 target → 3.0%
2027 target → 3.0%
2028 target → 3.0%

Data sourced from Stats Canada

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Increase percentage of youth ages 20-29 engaged in education, employment, or training

2024 state → 84.6%
2025 target → 85.1%
2026 target → 85.7%
2027 target → 86.3%
2028 target → 86.9%

Data sourced from Stats Canada

 

Historical data

Expand to view the 2014 to 2023 historical data for each target.


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Increase the growth rate of average weekly earnings

2014-19 → 2.5%
2019-23 → 4.1%
2003-23 → 2.9%

Data sourced from Stats Canada

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Increase percentage of youth ages 20-29 engaged in education, employment, or training

Jan-Mar 2024 → 84.6%
Jan-Mar 2023 → 87.7%
Jan-Mar 2019 → 82.9%

Data sourced from Stats Canada



Commitments

Addressing workforce needs

  • Focus immigration pathways on critical labour needs like health care, building trades, and education, and support newcomers to make New Brunswick home.

    Progress and measurement: IN PROGRESS

    The provincial government has negotiated an increased immigration allocation with the federal government. New Brunswick will now receive 4,250 permanent resident nominations this year, an increase of 1,500 from the figure announced in February.

  • Review and simplify the foreign credential recognition process and let people get to work.
  • Phase in pay equity in the private and care sector, using a model similar to Quebec and Ontario.
  • Support unemployed and underemployed New Brunswickers to upskill the labour force.

Investing in good paying jobs

  • Leverage our opportunities and strengths to invest in the right sectors at the right time including emerging opportunities in energy, technology, agriculture, fisheries, and manufacturing.

    Progress and measurement: IN PROGRESS

    Keep up to date on our investments and opportunities.

  • Close cell coverage and high-speed internet gaps across the province.

    Progress and measurement: IN PROGRESS

    On September 28, 2025, the government announced its partnership with Bell Canada to improve cellular coverage in rural areas of the province.

    On October 7, 2025, government announced departments are teaming up to build three new towers to support cellular equipment from service providers.

  • Increase productivity by reviewing and improving investment tax credits like SBITC and scientific research and economic development (SR/ED) credits to ensure investments in research, automation, and technology.
  • Increase New Brunswick exports by diversifying our international markets and working with our Canadian neighbours to remove trade and credential barriers posing economic roadblocks.

    Progress and measurement: IN PROGRESS

    Trade within Canada is an essential driver of the Canadian economy. Eliminating barriers to internal trade will help to lower prices, increase productivity, and help diversify markets for New Brunswick businesses. Learn more about our efforts.

    Legislation introduced to support interprovincial labour mobility
  • Consider arts and culture as important economic and social drivers. Better leverage opportunities to invest in our artists, cultural and creative industries, and institutions to ensure good-paying jobs and a robust creative economy that all New Brunswickers can be proud of.
  • Support the transition committee’s work on the Status of the Artist.

    Progress and measurement: IN PROGRESS

    On May 9, 2025, government introduced Legislation that would affirm recognition and fair compensation for professional artists in New Brunswick.

  • Maximize the benefit of infrastructure to New Brunswickers by leveraging an asset management plan for transportation infrastructure to ensure roads and bridges are prioritized for repair or replacement and that contractors are paid on time.

    Progress and measurement: IN PROGRESS

    The Road Ahead is a rolling plan and each year the department releases a new edition which outlines investments for the three subsequent years. The 2025 edition of the plan is the fourth release and outlines planned transportation projects for 2025 to 2027.

  • Formalize a comprehensive strategy for mineral development in NB.

    Progress and measurement: IN PROGRESS

    Framework established for developing provincial minerals strategy.

Fiscal responsibility

  • Balance the budget in each year of our mandate.