The economy

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

Overview and measurements

Last updated: September 21, 2026

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

Increase the growth rate of average weekly earnings

3.7%          3%
Current (2025)            Annual growth target

The 2024 result, as reported in 2025, was 3.8%.

The 2025 result, as reported in 2026, was 3.7%.

0 1 2 3 4 5 6 7 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 3% 3% 3% 3% 3.7% Historical Current Target

Source: Statistics Canada

We continue to support wage growth in the province as measured by the average weekly earnings provided by Statistics Canada. A year-over-year change including regular wages and salaries, overtime pay, commissions, bonuses and paid absences. Self-employed individuals are not included.

Pre-pandemic average growth between 2014 -2019 was 2.5% while the average growth between 2019-2023 was 4.1%. Our target is a 3% annual growth in 2025, 2026, 2027 and 2028.

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

84.3%          86.9%
Current (2026)            Target by 2028

The result for 2025 was 81.7%.

The result for 2026 is 84.3%.

70 75 80 85 90 95 100 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 85.1% 85.7% 86.3% 86.9% 84.3% Historical Current Target

Source: Statistics Canada

In 2024, Statistics Canada reported that the percentage of young people who are actively engaged in education, employment or training was 84.6%.

Our goal is to increase the percentage to 86.9% by 2028. The line graph shows our current state for 2025 and the targets for 2026 and 2027 to help us achieve our goal.

The proportion of young people who are actively engaged in education, employment or training is often monitored by policymakers as well, since young people who are not employed or enrolled in school may be experiencing difficulties transitioning from school to the labor market and could be at risk for low income and social exclusion.

Commitments

0Total
0 Complete
0 In progress

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: COMPLETE 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 2025.
Review and simplify the foreign credential recognition process and let people get to work
Progress and measurement: IN PROGRESS Government has secured $9,986,323 through a federal government program to reduce barriers to credential recognition and accelerate labour market integration for internationally trained professionals and tradespeople.
Phase in pay equity in the private and care sector, using a model similar to Quebec and Ontario
Progress and measurement: IN PROGRESS The government has introduced the Pay Transparency Act, which aims to improve equity and fairness in workplaces across the province.
Support unemployed and underemployed New Brunswickers to upskill the labour force
Progress and measurement: IN PROGRESS
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: COMPLETE The government has launched an economic development strategy focused on building a more productive, investment-ready and globally connected New Brunswick. 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
Progress and measurement: COMPLETE Proposed updates to the Small Business Investor Tax Credit program are intended to support New Brunswick businesses, promote innovation and encourage economic growth by fostering greater investment in strategic sectors.
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 New Brunswick was recognized as one of Canada’s leaders in reducing barriers to trade and labour mobility, earning an A grade in the latest internal trade report card from the Canadian Federation of Independent Business. 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. The provincial government has introduced new legislation to modernize and simplify trade across the country. Government introduced several programs to help oyster producers whose industry has been affected by disease.
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
Progress and measurement: IN PROGRESS The government is taking a new approach to arts funding that is meant to improve predictability, clarity and service for the sector. Administration of the government's remodeled Operational Support Program is being transferred to the New Brunswick Arts Board, also known as artsnb, which is an arm's-length arts funding agency.
Support the transition committee's work on the Status of the Artist
Progress and measurement: COMPLETE On May 9, 2025, government introduced Legislation that affirms 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: COMPLETE 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: COMPLETE The government has introduced a Mineral Resources Act that Natural Resources Minister John Herron says will be the foundation for one of the most agile, predictable and timely regulatory frameworks for mineral development in Canada. New Brunswick's Comprehensive Minerals Strategy positions the province as a leader in responsible, sustainable mining while unlocking the economic potential of its rich geology.
Fiscal responsibility
Balance the budget in each year of our mandate
Progress and measurement: IN PROGRESS Standard and Poor's, a global credit rating agency, has reaffirmed New Brunswick's A+ credit rating with a stable outlook.

No commitments match the selected filters.