The number of people employed in the Thompson Okanagan Region decreased from 258,100 in May 2017 to 250,200 in May 2018. Simultaneously, the number of people in the labour force decreased from 276,100 in May 2017 to 268,400 in May 2018. Last month, employment rates were 61.4% in B.C. and 61.3% in Canada, while the Thompson Okanagan Region was 56.1%. The unemployment rate in the Thompson Okanagan Region decreased from 7.1% in April to 6.8% in May.
Source: Statistics Canada LFS
Number of Postings by Occupation, in Kamloops 2017-2018
Airport Passenger Volumes
Another good month, with 6% increase for May over last year, and besting our previous “best May” by 1,550 passengers.
Source: Kamloops Airport Authority
In May 2018, a total of 388 residential units were sold in Kamloops, down from the 415 total units in May of the previous year. New listings were up from 690 in May 2017 to the 701 in May 2018, and the total value of residential units sold increased from $140,357,217 (2017) to $146,947,952 (2018). The average home price in Kamloops was $473,000 in May compared to the BC average of $733,616.
The actual (not seasonally adjusted) national average price for homes sold in May 2018 was just over $496,000, down 6.4% from one year earlier.
The national average price is heavily skewed by sales in the GVA and GTA, two of Canada's most active and expensive markets. Excluding these two markets from calculations cuts more than $104,000 from the national average price to just over $391,100 and trims the y-o-y decline to 2%.
Sources: Kamloops and District Real Estate Association, BC Real Estate Association, and Canadian Real Estate Association
There were 36 new housing starts in Kamloops in May 2018. This is in comparison to 54 starts in May 2017. The 36 housing starts represented $9,687,736 in construction value, compared to $15,710,605 in construction value for the 54 housing starts in May of the previous year.
Source: City of Kamloops; Statistics Canada
In May 2018, the City of Kamloops issued 54 residential building permits valued at $10,503,866 down from the 75 permits issued in May of the previous year at a value of $16,663,657. A total of 8 commercial building permits were issued in May 2018 with a value of $1,711,350 down from the 13 permits issued in May 2017 with a value of $2,081,364.
Source: City of Kamloops
Kamloops issued 56 new business license applications in May 2018, up from 42 the previous year.
Residential Building Permits
Commercial Building Permits
Source: City of Kamloops