The number of people employed in the Thompson Okanagan Region decreased from 262,900 in November 2017 to 258,800 in November 2018. Simultaneously, the number of people in the labour force decreased from 284,300 in November 2017 to 272,100 in November 2018. Last month, employment rates were 62.4% in B.C. and 61.7% in Canada, while the Thompson Okanagan Region was 57.7%. The unemployment rate in the Thompson Okanagan Region decreased from 5.5% in October to 4.9% in November.
Source: Statistics Canada LFS
Number of Postings by Occupation, in Kamloops 2017-2018
Airport Passenger Volumes
Our traveler numbers for the month of November surpassed last year by 6.6%, and we are tracking 10.6% higher year to date over 2017.
Passenger numbers for November 2018 represent the best month of November on record – the seventh “best month” in a row for Kamloops Airport. We are looking forward to continuing this trend for December, as well as celebrating 2018 as our best year ever!
Source: Kamloops Airport Authority
In November 2018, a total of 234 residential units were sold in Kamloops, down from the 243 total units in November of the previous year. New listings were down from the 345 in November 2017 to the 296 in November 2018, and the total value of residential units sold decreased from $86,727,322 (2017) to $94,624,071 (2018). The average home price in Kamloops was $476,665 in November compared to the BC average of $713,302 and national average of $488,000.
The actual (not seasonally adjusted) national average price for homes sold in November 2018 was just over $488,000, down 2.9% from the same month last year.
The national average price is heavily skewed by sales in Greater Vancouver and the GTA, two of Canada's most active and expensive markets. Excluding these two markets from calculations cuts almost $110,000 from the national average price, trimming it to just over $378,000.
Sources: Kamloops and District Real Estate Association, BC Real Estate Association, and Canadian Real Estate Association
There were 69 new housing starts in Kamloops in November 2018. This is in comparison to 203 starts in November 2017. The 69 housing starts represented $14,014,332 in construction value, compared to $18,040,834 in construction value for the 203 housing starts in November of the previous year.
Source: City of Kamloops; Statistics Canada
In November 2018, the City of Kamloops issued 38 residential building permits valued at $15,953,332 up from the 40 permits issued in November of the previous year at a value of $18,766,674. A total of 11 commercial building permits were issued in November 2018 with a value of $35,661,130 compared to the 8 permits issued in November 2017 with a value of $14,600,000.
Source: City of Kamloops
Kamloops issued 53 new business license applications in November 2018, down from 66 the previous year.
Residential Building Permits
Commercial Building Permits
Source: City of Kamloops