The number of people employed in the Thompson Okanagan Region increased from 261,100 in July 2018 to 280,200 in July 2019. Simultaneously, the number of people in the labour force increased from 277,800 in July 2018 to 293,200 in July 2019. Last month, employment rates were 63.5% in B.C. and 62.9% in Canada, while the Thompson Okanagan Region was 62.9%. The unemployment rate in the Thompson Okanagan Region decreased from 4.9% in June to 4.4% in July.
Source: Statistics Canada LFS
Number of Postings by Occupation, in Kamloops 2018
Airport Passenger Volumes
Although month-to-month passenger growth from June is strong at an increase of 6%, we have seen a decrease from this period last year of 2.5%. This decrease is not unexpected as Rouge operated 8 flights versus 26 over the same period last year.
Source: Kamloops Airport Authority
The British Columbia Real Estate Association (BCREA) reports that a total of 7,930 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in July, an increase of 12.4 per cent from the same month last year. The average MLS® residential price in the province was $684,497, a decline of 1.6 per cent from July 2018. Total sales dollar volume was $5.43 billion, a 10.5 per cent increase from the same month last year.
Last month there were 566 new listings and 319 unit sales in Kamloops, compared to the 533 new listings and 322 unit sales in July of last year.
Sources: Kamloops and District Real Estate Association, BC Real Estate Association, and Canadian Real Estate Association
There were 159 new housing starts in Kamloops in July 2019, which was down from the 244 starts in July 2018. The 159 housing starts represented $25,719,038 in construction value, compared to $37,127,983 in construction value for the 244 housing starts in July of the previous year.
Source: City of Kamloops; Statistics Canada
In July 2019, the City of Kamloops issued 44 residential building permits valued at $26,642,713 down from the 43 permits issued in July of the previous year at a value of $37,521,583. A total of 9 commercial building permits were issued in July 2019 with a value of $1,372,080 compared to the 11 permits issued in July 2018 with a value of $2,224,025.
Source: City of Kamloops
Kamloops issued 57 new business license applications in July 2019, up from 51 the previous year.
Residential Building Permits
Commercial Building Permits
Source: City of Kamloops