Employment


The number of people employed in the Thompson Okanagan Region decreased from 273,700 in June 2019 to 250,500 in June 2020. Simultaneously, the number of people in the labour force decreased from 287,600 in June 2019 to 279,400 in June 2020. Last month, employment rates were 53.4% in B.C. and 54.0% in Canada, while the Thompson Okanagan Region was 54.5%. The unemployment rate in the Thompson Okanagan Region increased from 9.5% in May to 10.3% in June.

Source: Statistics Canada LFS

Number of Postings by Occupation, in Kamloops


Airport Passenger Volumes


The passenger numbers for April and Year to Date, 2020 are available and as expected, are clearly showing the severe negative impact of the COVID-19 pandemic on the travel sector. All current indicators call for a slow recovery starting in Q2 with moderate recovery in Q3 and Q4. Recovery will be largely dependent on travel and physical distancing restrictions, demand, and availability of disposable income for leisure travel. On a more positive note however, airlines have indicated no further reductions to service in the Kamloops market are planned and a phased reentry into the market by Air Canada Express is tentatively scheduled for mid-June.

Source: Kamloops Airport Authority

Real Estate


British Columbia Real Estate Association (BCREA) reports that a total of 8,166 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in June 2020, an increase of 16.9 per cent from June 2019. The average MLS® residential price in BC was $748,155, a 9.1 per cent increase from $685,968 recorded the previous year. Total sales dollar volume in June was $6.1 billion, a 27.5 per cent increase over 2019.

The average housing price in Canada was $539,000

Sources: Kamloops and District Real Estate Association, BC Real Estate Association, and Canadian Real Estate Association

Housing Sales across the Province June 2020


Board Avg. Price ($) Unit Sales
Kamloops 456,701 291
Greater Vancouver 1,049,475 2,497
Fraser Valley 779,509 1,619
Victoria 789,004 780
Chilliwack 560,328 345
Okanagan Mainline 574,703 791
Vancouver Island 534,349 825
South Okanagan 496,263 225
Kootenay 373,529 296
BC Northern 335,873 438
Powell River 417,665 31
Northern Lights 268,721 28

Housing Construction


There were 11 new housing starts in Kamloops in June 2020, which was down from the 28 starts in June 2019. The 11 housing starts represented $2,699,810 in construction value, compared to $6,851,461 in construction value for the 28 housing starts in June of the previous year.

Source: City of Kamloops; Statistics Canada

Building Permits


In June 2020, the City of Kamloops issued 42 residential building permits valued at $4,699,027, a slight increase over total permits issued in June of the previous year at a value of $7,269,851. A total of 14 commercial building permits were issued in June 2020 with a value of $63,121,472 compared to the 18 permits issued in June 2019 with a value of $39,352,734.

Source: City of Kamloops

Business Licenses


Kamloops issued 54 new business license applications in June 2020 matching the 54 from the previous year.

289

Business Licenses
Issued (YTD)

246

Residential Building Permits
Issued (YTD)

62

Commercial Building Permits
Issued (YTD)

 

Source: City of Kamloops