The number of people employed in the Thompson Okanagan Region decreased from 267,900 in August 2017 to 262,500 in August 2018. Simultaneously, the number of people in the labour force decreased from 280,900 in August 2017 to 277,800 in August 2018. Last month, employment rates were 62.1% in B.C. and 62.4% in Canada, while the Thompson Okanagan Region was 58.7%. The unemployment rate in the Thompson Okanagan Region increased from 6.0% in July to 6.1% in August.
Source: Statistics Canada LFS
Number of Postings by Occupation, in Kamloops 2017-2018
Airport Passenger Volumes
Passenger numbers continue to reflect positive growth with the highest second quarter ever for Kamloops Airport, as well as the best May and June on record.
Source: Kamloops Airport Authority
In August 2018, a total of 357 residential units were sold in Kamloops, down from the 362 total units in July of the previous year. New listings were down from the 529 in July 2017 to the 502 in July 2018, and the total value of residential units sold increased from $126,952,290 (2017) to $136,065,659 (2018). The average home price in Kamloops was $467,500 in August compared to the BC average of $669,776.
The actual (not seasonally adjusted) national average price for homes sold in August 2018 was just over $475,500, up 1% from the same month last year.
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 almost $94,000 from the national average price, trimming it to just under $382,000.
Sources: Kamloops and District Real Estate Association, BC Real Estate Association, and Canadian Real Estate Association
There were 22 new housing starts in Kamloops in August 2018. This is in comparison to 42 starts in August 2017. The 22 housing starts represented $6,643,140 in construction value, compared to $11,867,780 in construction value for the 42 housing starts in August of the previous year.
Source: City of Kamloops; Statistics Canada
In August 2018, the City of Kamloops issued 35 residential building permits valued at $7,101,740 down from the 64 permits issued in August of the previous year at a value of $12,552,890. A total of 18 commercial building permits were issued in August 2018 with a value of $1,966,000 compared to the 24 permits issued in August 2017 with a value of $4,076,687.
Source: City of Kamloops
Kamloops issued 35 new business license applications in August 2018, down from 53 the previous year.
Residential Building Permits
Commercial Building Permits
Source: City of Kamloops