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

MP Cannings’ long-awaited wood-use bill passes in House vote

The private member’s bill is his first to pass the House, a rare feat for rookie MPs in opposition

Flood 2018: What comes next

Most evacuation orders have been rescinded, and residents are starting to return home

PHOTOS: Floodwaters rise and fall in Grand Forks

The flood-ravaged Kootenay-Boundary region begins to heal

VIDEO: Grand Forks shores up defences as floodwaters rise to peak levels

Canadian Forces, volunteers working to protect low-lying areas

UPDATED: Majority of flood evacuees in Kootenay-Boundary allowed to return home

Officials hope to have all 3,000 people back in their homes by Monday night

Police release video on how to ‘run, hide, fight’ if there’s an active shooter

Vancouver police offer video with input from E-Comm, BC EHS, Vancouver Fire and Rescue

Study recommends jurors receive more financial and psychological support

Federal justice committee calls for 11 policy changes to mitigate juror stress

Research needed on impact of microplastics on B.C. shellfish industry: study

SFU’s department of biological sciences recommends deeper look into shellfish ingesting microbeads

B.C. dad pens letter urging overhaul of youth health laws after son’s fatal overdose

The Infants Act currently states children under 19 years old may consent to medical treatment on own

Singh sides with B.C. in hornet’s nest of pipeline politics for the NDP

Singh had called for a more thorough environmental review process on the proposal

VIDEO: Campers leave big mess at rural Vancouver Island campsite

Vehicle parts, garbage, a mattress, lawn chairs, beer cans, and even fecal matter left in the area

VIDEO: B.C. woman gets up-close view of Royal wedding

Kelly Samra won a trip back to her home country to see Prince Harry and Meghan Markle say ‘I do’

30 C in B.C., 30 cm of snow expected for eastern Canada

It might be hot in B.C., but the rest of Canada still dealing with cold

Horgan defends fight to both retain and restrict Alberta oil imports

Alberta says pipeline bottlenecks are kneecapping the industry, costing millions of dollars a day

Most Read