Nunavut- Statistics & Facts
Nunavut is Canada’s largest and most northern territory. Despite being the largest territory by land size, it is the smallest in terms of population, having an estimated population of 40,526 in 2022. Nearly 80 percent of the population is of North American Aboriginal origin, and the territory has the lowest median age resident population in Canada. Its capital city and only city is Iqaluit, and it is the least-densely populated area in Canada, where a majority lives in a rural area. Nunavut is a massive area, and the territory is made up by three distinct regions: the Arctic Lands, the Hudson Bay Lowlands, and the Canadian Shield, and is bordered by the Northwest Territories and Manitoba to the south. However, it is isolated from the rest of Canada as there are no highways that connect Nunavut to other provinces.
In 2021 the territory had a GDP of 3.36 billion Canadian dollars, with the mining, quarrying, and gas and oil extraction industry contributing the most. Its mineral wealth makes Nunavut one of the leading provinces in metallic mineral production. However, employment in the mining industry for residents in Nunavut is hindered by cultural and economic barriers.
The economy of Nunavut
Unfortunately, Nunavut suffers from the highest unemployment rate in Canada. However, it is one of the leading territories in labor force participation. The high unemployment rate is a consequence of the sparse population, large land mass, and isolation from the other provinces, which results in a high cost of living. Its harsh climate creates a lack of an agricultural industry, making basics expensive for consumers, causing food insecurity, since the minimum wage is not sufficient enough to afford basic food at these high prices. Furthermore, Nunavut faces a lack in sufficient transportation and infrastructure for the territory.In 2021 the territory had a GDP of 3.36 billion Canadian dollars, with the mining, quarrying, and gas and oil extraction industry contributing the most. Its mineral wealth makes Nunavut one of the leading provinces in metallic mineral production. However, employment in the mining industry for residents in Nunavut is hindered by cultural and economic barriers.
