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

Coun. Fred Haynes to run for mayor against Mayor Atwell

Haynes to go head-to-head with Atwell for Saanich mayoral seat in 2018

School fence damaged by soaring sailboat

One boat owner advised, Transport Canada responsible for second boat

Bob Heyes back behind Shamrocks bench for 2018 season

Art Webster, Mike Simpson, John Hamilton will also return

UPDATE: Driver escapes from crash in Sidney

Town truck and another vehicle collide, causing van to roll over

Final key components for Johnson Street Bridge installed this weekend in Victoria

Dynamic Beast crane barge arrives back in town on Friday

Testing the Google Arts & Culture app

Going face to face with art

Back to work: U.S. government shutdown ends after Democrats relent

Short-term spending measure means both sides could see another shutdown stalemate in three weeks

Man lives despite malfunctioning defibrillator at B.C. arena

A middle-aged man went into cardiac arrest after at game at Pitt Meadows Arena last Wednesday.

Saanich signals support for in-fill developments in Gorge-Tillicum

The Gorge-Tillicum neighbourhood continues to experience infill. Council’s committee-of-the-whole signaled Saanich’s support… Continue reading

Reynolds, Edward Milne capture titles at Esquimalt hoops tournament

Host Dockers take fourth in senior girls draw

Cause of Northern B.C. seaplane crash released

TSB releases report on seaplane crash during a water landing in 2016 near First Nations community

Vancouver police crack down on pop-up pot vendors

Officers raided merchants’ tables on Robson Square late Sunday

Bell Media, NFL take appeal over Super Bowl ad rules to top court

At issue is a ban on substituting American ads with Canadian ones during the game’s broadcast

Crown seeks 4.5 years jail for B.C. woman convicted of counselling tax evasion

Debbie Anderson the latest from group to face jail for teaching debunked ‘natural person’ theory

Most Read