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

Saanich councillor questions effectiveness of free transit passes for youth

Coun. Judy Brownoff said efforts should focus on improving service levels

Greater Victoria teacher’s certification suspended for inappropriate conduct with female students

Gregory Garos was employed by the District as a middle school teacher

Saanich pee wee lacross team takes home the gold at Provincials again

The Saanich Tigers clawed their way to first place at the Provincial championship in Delta

Victoria’s historic Point Ellice House re-opens after months of closure

A new exhibit will be on display at the house to explore the ‘Politics of Luxury’

Saanich councillor wants the municipality to support opponents of Quebec’s secularism bill

Councillors will debate notice of motion from Coun. Zac de Vries on Aug. 12

Rents in most Canadian cities are unaffordable for lower-income earners: study

Roughly one-third of households, or 4.7 million, are renters

POLL: Do you carry reusable shopping bags?

While a court ruling determined the City of Victoria’s plastic bag ban… Continue reading

Greater Victoria wanted list for the week of July 16

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

B.C. government seeks advice on reviving Interior forest industry

Public website opens as meetings start with community leaders

Film features Chez Monique, an off-the-grid restaurant on West Coast Trail in B.C.

“The story we are trying to share is of the loving haven they created and sustained for decades.”

Psychics, drones being used to search for missing Chilliwack woman with dementia

Drones, psychics, dogs and more have been employed to help find Grace Baranyk, 86

Scheer on Trump: It’s ‘offensive’ to question the family background of critics

Trump is being called a racist for saying that the four congresswomen should go back where they came from

Instagram expands Canadian pilot removing ‘like’ counts to more countries

Social media giant plans to roll out the test in Australia, New Zealand, Brazil, Japan, Italy and Ireland

Man involved in beating and tasering over a drug debt to be sentenced in Nanaimo

Colin Damen Gary Lamontagne pleaded guilty to charges, including aggravated assault

Most Read