A carpenter works on the roof of the newest section of the Railyard housing development at the corner of Bay Street and Tyee Road while in the background a crane stands over a building under construction on the waterfront off Jutland Road.

Greater Victoria’s economy to grow but new jobs lag

Number of public sector jobs declining faster than growth in private sector

The Capital Region needs more high-paying jobs to sustain its economy, the economic officer for the Greater Victoria Development Agency told a business forum this week.

The number of public sector jobs is declining faster than growth in the private sector, which resulted in Greater Victoria producing negative growth of 0.2 per cent in 2013. The local economy is expected to increase by 1.8 per cent this year.

“We have a lot of private sector companies that are growing, (but) the job creation numbers in the private sector are not quite enough to offset the declining numbers in the public service,” said Dallas Gislason, speaking at Chemistry Consulting’s annual economic outlook breakfast on Tuesday.

“Growth is not the only thing we’re striving for, it’s certainly not, but negative growth is certainly not favourable when you have ‘trillion-dollar’ sewer systems to build and stuff like that.”

Last year, the region’s economy produced more than $15 billion, and Greater Victoria has seen 10 per cent growth since 2007.

“A nice sustainable number,” added Gislason, “other than we need to create more (high-paying) jobs.”

He added Greater Victoria sees about a one per cent growth each year, and job creation must also be reflected in that number.

There’s optimism, however, that the tech, ship-building and military sectors may be able to offset those losses with expected boons in the near future. A weakening Canadian dollar heading into tourism season could also be enough to attract more visitors to the region this summer and boost a relatively lucrative sector.

Victoria Mayor Dean Fortin said he’s pushed for a balance of investment, fair taxation and international partnerships to help the local economy – and create jobs.

“We’re seeing success in our trade missions, and we need to keep going. Relationships are a process,” Fortin said, adding many Greater Victoria businesses have benefited from those overseas trips.

 

 

Just Posted

Oak Bay doctor the pulse of Island’s heart failure clinic

Dr. Elizabeth Swiggum has headed heart clinic for past 14 years

UPDATE: Crown cross-examines Oak Bay dad accused of killing daughters

Andrew Berry is charged in the deaths of six-year-old Chloe and four-year-old Aubrey in 2017

Buffy the audience slayer: St. Marie coming to Sidney

Powerful live shows a big part of veteran Canadian folk star’s success; she’s here Sept. 26-27

Annual study shows high satisfaction with B.C. post-secondary schools

Study also reveals men tend to dominate higher paying jobs in the trades

Pavement work to close Fort Rodd Hill

Historic site scheduled to be closed to public Sept. 3 to 6

Trudeau to meet with U.K. and Japanese prime ministers ahead of G7 summit

French President Emmanuel Macron, this year’s G7 host, has little expectations of a unified front from the leaders

Thousands cycle to conquer cancer

The 11th annual Ride to Conquer Cancer took place Saturday morning, Aug. 24 in Surrey, B.C.

PHOTOS: Brazil military begins operations to fight Amazon fires

Amazon fires have become a global issue, escalating tensions between Brazil and European countries

Racist confrontation in Richmond parking lot caught on camera

Woman can be heard yelling racial slurs, swear words at woman in apparent parking dispute

Groups ready campaign to help young voters identify ‘fake news’ in election

The media literacy campaign to focus on identifying misinformation and suspicious sources online

Big rally in northern B.C. draws attention to continuing lumber crisis

Mayor Joan Atkinson says about 400 workers have been directly affected by the closure of the Canfor mill

Orangeville Northmen take Minto Cup at Langley Events Centre

Swept best-of-five series 3-0 over Victoria Shamrocks

Expanded support to help B.C. youth from care attend university still falling short

Inadequate support, limited awareness and eligibility restrictions some of the existing challenges

Ethnic media aim to help maintain boost in voting by new Canadians

Statistics Canada says new Canadians made up about one-fifth of the voting population in 2016

Most Read