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

Home care transition could exasperate worker shortage: Seniors advocate

Advocate fears impact of eight-hour shift model on an industry under stress

New festival celebrating Croatian culture to be held in Victoria

CROfest will be held May 4 and 5 at Croatian Catholic Church of St. Leopold Mandíc

High of 14 C for Wednesday

Plus a look ahead at your weekend forecast

Tryouts underway for Oak Bay High golf team

Cool April weather brings a chilly start for school team

WATCH: Police call Happy Valley shooting an ‘isolated and targeted’ incident

One person in custody, another fled following crash on Kelly Road

Wanted by Crime Stoppers

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

POLL: Do you think the Notre Dame Cathedral in Paris should be rebuilt?

Images of one of the word’s most iconic landmarks were seared into… Continue reading

Should B.C. parents receive money if they make sure their kids are vaccinated?

New survey looks at public opinion around government’s role in forcing immunizations

‘Cutthroat’ sport of wine tasting happening in B.C.

BC Tasting Games are underway with competitions in three Okanagan communities.

Early data suggests no post-legalization spike in drug-impaired driving charges

Many police departments are prioritizing investigations related to drugs like fentanyl and methamphetamine

Woe, Canada: Bruins down Maple Leafs 5-1 in Game 7

No Canadian teams left in Stanley Cup playoffs

B.C. men challenge constitutionality of Canada’s secret no-fly list

Parvkar Singh Dulai says he received a “denial of boarding” notification under the no-fly program last May 17

Murder on B.C. property didn’t need to be disclosed before sale, court rules

Buyer had tried to break contract after learning a man with ties to crime had been murdered there

Most Read