B.C. leads the country in job growth.

Housing drives B.C. economic growth

Employment and housing starts dip in May, but so far this year economic growth leads Canada

B.C. employment and housing starts dipped in May, but job growth continues to lead the country so far in 2016.

The latest Statistics Canada figures show employment in B.C. declined by 8,400 people in May, reversing most of a surge in hiring in April. Even with the drop, employment was three per cent higher than at the same time last year.

Compared to 2015, employment was up 16.5 per cent in resource extraction, 14 per cent in public administration and 6.1 per cent in trade. For the first five months of this year, full-time employment was up 2.7 per cent and part-time employment rose by 6.3 per cent.

In its weekly economic briefing, Central 1 Credit Union noted that employment gains are largely confined to Metro Vancouver. Employment is down 0.4 per cent from a year ago in the remainder of the province.

Urban B.C. housing starts, which Central 1 calls “a pillar of economic growth this year,” were up 45 per cent through April, to 16,320 units.

About 80 per cent of the overall growth in housing starts was in Metro Vancouver, but starts more than doubled in the Abbotsford-Mission and Kelowna census metropolitan areas and nearly doubled in the Prince George census area.

“We forecast full-year housing starts (including rural areas) to reach 38,200 units this year, marking a 21 per cent increase from 2015,” Central 1 senior economist Bryan Yu said.

 

Just Posted

Okanagan Wildfires: The latest on wildfires and evacuations

A Saturday morning look at the major wildfires impact the Okanagan and Similkameen.

UPDATE: BX, Irish Creek fires out

Vernon fire snuffed out, along with earlier reported fire near Sugar Lake

Vernon park gains needle bins

Interior Health has supplied Community Policing with two industrial sharps bins

Vernon woman reports being punched for backpack

Assault in Harwood area Wednesday afternoon under investigation

UPDATED: Search escalates for missing school teacher

John Keeley is believed to have been kayaking in Mabel Lake near Lumby.

Here’s what you need to know about Day 2 at the BC Games

From equestrian to volleyball to swimming, all 18 events in full swing here in the Cowichan Valley

Vernon poet shines bright light on struggle with homelessness

Book launch for John La Greca’s Homeless Memorial is at Gallery Vertigo July 21

VIDEO: B.C. rancher demands change on how gov’t handles emergencies after 2017 wildfires

Essential service designation, tax deferrals should be on the table for ranchers

Okanagan wildfires have potential to become firestorms, says UBC expert

David Andison said to let smaller fires go, to create pockets in the landscape for new forests

From hot dog to not dog: stuffed toy prompts car break in

Victoria couple said dog toy had been in the backseat for 18 years without problems

Wildfire crews working to strengthen line around fire near Summerland

The Mount Conkle wildfire is 90 per cent guarded

VIDEO: Open water swimming from B.C. to Washington in 24 hours

The swim will take a full day, meaning Susan Simmons will be swimming in the black of night

Update: Wildfire near West Kelowna mapped at 10 hectares

The wildfire near Glenrosa is considered out of control

Okanagan Mountain Park fire shows no growth overnight

The wildfire, also called Goode’s Creek wildfire, continues to burn near Kelowna

Most Read