This article estimates the economic impact of the Marshall decisions on First Nations communities with higher-than-average proportions of their labour force engaged in trapping and fishing. Using the 1996 and 2016 waves of the Canadian census, we construct four commonly used indicators of economic well-being (education, income, unemployment, housing); impacts are examined using a difference-in-differences method that controls for heterogeneous effects. Results are mixed. Although the evidence does not necessarily support an unquestionable conclusion of direct economic improvement, our reduced-form results characterize a series of trends in these communities, emphasizing the importance of multidimensional measures of economic well-being.