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

Shames Mountain creates new fund for youth in memory of late founder

The ‘Billey Season Youth Pass’ will be given out annually

Coastal GasLink gets interim injunction against Unist’ot’en

The LNG pipeline company can start work Monday with enforcement approved by court.

Terrace users on Facebook post warnings about vehicle break-ins

RCMP say it’s important to always lock your doors

Oil tanker ban to be reviewed by committee

Indigenous groups for and against Bill C-48 travel to Ottawa to influence the Senate’s decision

Supportive housing project delayed until end of winter

Rainy conditions have stalled groundwork for the 52-unit development on Olson Avenue

Ryan Reynolds to narrate movie about B.C.’s Great Bear Rainforest

Vancouver-born actor known for Deadpool movies will voice film to be released Feb. 15, 2019

10-lane George Massey bridge too big, B.C. study says

Consultants say replacement tunnel cost similar to new bridge

Canada’s robust credit rating should calm unease about federal deficits: Trudeau

Trudeau says Canada’s long-running triple-A rating means experts have confidence in his government’s approach to the economy

CIBC shrinks event after Whistler mayor irks oil producers

After Whistler sent a letter to a Calgary-based oilsands giant, several energy firms said they would back out of the CIBC event.

Couple caught up in B.C. Legislature bomb plot to learn their fate

John Nuttall and Amanda Korody were arrested as part of an undercover RCMP sting on Canada Day 2013

Trial rights of accused spy for China at risk, lawyer tells Supreme Court

The lawyer for a man accused of trying to spy for China says federal foot-dragging over secrecy is endangering his client’s right to timely justice.

‘Recall fatigue’: Canadians may avoid certain foods over holidays

In the winter, Canada’s supply of fresh fruit and vegetables tends to come from very specific areas.

Airline passengers could get up to $2,400 for delays, damaged bags: Canadian agency

Canadian Transportation Agency is releasing draft regulations for public feedback

Top of mind: ‘Justice’ is Merriam-Webster’s word of the year

Merriam-Webster has chosen “justice” as its 2018 word of the year, driven by the churning news cycle and President Trump’s Twitter feed.

Most Read