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

Discussion centres on the future of English Grade 8 at RSS

Parents met with the principal to discuss the future of English Grade 8 at Rossland Summit School.

Rossland St. Andrew’s United Church planning for restoration

Rossland’s United Church has received a CBT grant to support a restoration of the Red Roof Church.

Interior Health facilities score high in housekeeping audits

Housekeeping audits for health facilities in the region show most are above the auditor’s benchmark.

RCMP urge drivers to be more cautious

The top causes of accidents in the West Kootenay are distracted driving, impaired driving and speed.

FortisBC explains rate change proposal

FortisBC met with customers in Castlegar to explain their new time-of-use rate proposal.

VIDEO: What you need to know today at the B.C. Games

All 19 events are underway across Kamloops, where five to 10 cm of snow is expected to fall

How to keep local news visible in your Facebook feed

Facebook has changed the news feed to emphasize personal connections. You might see less news.

Hundreds march for justice in death of Winnipeg teen

Tina Fontaine was pulled from a river in 2014, her body wrapped in a blanket and weighed down by rocks

Maritimes want their own CFL team

Their biggest hurdle is getting a stadium commitment in place

Sask. school shooter to be sentenced as adult

The man was just shy of his 18th birthday when he killed four people and injured seven others

Internet questions PM’s fashion choices in India

The Trudeaus’ eight-day visit has been dogged by various controversies since it began Feb. 17

Adopted potbelly pig killed and eaten on Vancouver Island

Animal had been adopted out from the SPCA in Duncan; staff are devastated by news

WATCH: Walking from Argentina to Alaska one step at a time

Holly “Cargo” Harrison is in Williams Lake, resting a pulled hamstring before he continues on his 15,000-mile walk to Alaska.

Most Read