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New in IMPLAN Cloud: Updated Canada Provincial Data

February 16, 2024 by Chandler West

We are thrilled to announce the latest update of our Canada Provincial Product, with data from 2020! At IMPLAN, we are committed to providing our users with the most accurate and comprehensive economic data to drive informed decision-making and analysis.

While 2020 may feel like a lifetime ago, data from 2020 marks the most recent national- and provincial-level input-output data available from Statistics Canada.

Here's a breakdown of the key updates and improvements in our latest release:

  • Incorporation of improved data for average household size: We now utilize Statistics Canada's Census of Population data for average household size for all Canadian provinces and territories, ensuring more precise data representation, particularly for regions like the Northwest Territories, Yukon, and Nunavut.
  • Improved tax data: We have transitioned from using tax rates to estimate personal income tax, corporate tax, and contributions to social insurance contributions to using actual dollar values from Statistics Canada's Revenue, Expenditure, and Budgetary Balance data. This enhancement provides a more accurate reflection of tax collections and contributions.
  • Enhanced employment estimates for some industries: Our methodology for estimating wage and salary employment and proprietor employment has been refined. This change aims to improve the accuracy of wage & salary employment and proprietor employment in business sectors that offer goods/services similar to non-profits and government.
  • Inclusion of data on government transfers to households: We now incorporate comprehensive data on government transfer payments to households, sourced from Statistics Canada. These transfers include benefits such as Employment Insurance and the Canada Child Benefit.

Pandemic-Related Considerations

The 2020 Canada Provincial data reflect the unique economic landscape during the height of the global COVID-19 pandemic. Various factors, including government subsidies, changes in household spending patterns, and alterations in employment dynamics, have been taken into account:

  • Government subsidies on production: Temporary wage subsidies and other government initiatives aimed at mitigating the economic impact of COVID-19 are reflected in our data. These subsidies are recorded as negative taxes on production, influencing the overall economic landscape.
  • Government transfer payments to households: Programs like the Canada Emergency Response Benefit and the Canada Emergency Student Benefit have resulted in increased government transfers to households, which are duly accounted for in our data.
  • Changes to household spending: COVID-19-related restrictions have prompted shifts in household spending patterns, notably with increased spending on groceries and reduced expenditures on food services. These changes are captured in our updated data set.

At IMPLAN, we remain committed to providing our users with the most accurate and relevant economic data. The 2020 Canada Provincial data release reflects our dedication to continuous improvement and adaptation to evolving economic landscapes.

For more detailed insights into the newly released Canada 2020 data, we encourage you to explore the corresponding release notes.

Stay tuned for more updates and enhancements as we continue to refine our data and methodologies to better serve your analytical needs.

Learn more about the ins and outs of conducting an economic impact analysis with IMPLAN today. 

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Topics: Data


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