The number of people employed in the Thompson Okanagan Region decreased from 265,500 in April 2019 to 252,200 in April 2020. Simultaneously, the number of people in the labour force decreased from 280,500 in April 2019 to 277,200 in April 2020. Last month, employment rates were 56.3% in B.C. and 56.6% in Canada, while the Thompson Okanagan Region was 55.0%. The unemployment rate in the Thompson Okanagan Region increased from 7.2% in March to 9.0% in April.
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
Home sales recorded over Canadian MLS® Systems dropped by a record 56.8% in April 2020 compared to an already weakened March, with a majority of sellers and buyers having seemingly moved off to the sidelines during the COVID-19 lockdown.
Actual (not seasonally adjusted) sales activity dropped by 57.6% on a y-o-y basis, marking the lowest April sales figure since 1984. Similar to the m-o-m changes above, declines in the biggest markets were clustered in the 55%-70% range.
Sources: Kamloops and District Real Estate Association, BC Real Estate Association, and Canadian Real Estate Association
Housing Sales across the Province April 2020
|Board||Avg. Price ($)||Unit Sales|
There were 136 new housing starts in Kamloops in April 2020, which was up from the 96 starts in April 2019. The 136 housing starts represented $22,715,000 in construction value, compared to $19,101,774 in construction value for the 96 housing starts in April of the previous year.
Source: City of Kamloops; Statistics Canada
In April 2020, the City of Kamloops issued 41 residential building permits valued at $23,059,530, an increase over total permits issued in April of the previous year at a value of $19,771,164. A total of 16 commercial building permits were issued in April 2020 with a value of $13,875,170 compared to the 10 permits issued in April 2019 with a value of $11,995,844.
Source: City of Kamloops
Kamloops issued 41 new business license applications in April 2020 down from the 62 from the previous year.
Residential Building Permits
Commercial Building Permits
Source: City of Kamloops