Employment
The number of people employed in the Thompson Okanagan Region decreased from 281,900 in October 2019 to 270,300 in October 2020. Simultaneously, the number of people in the labour force decreased from 295,500 in October 2019 to 293,900 in October 2020. Last month, employment rates were 58.5% in B.C. and 59.2% in Canada, while the Thompson Okanagan Region was 58.6%. The unemployment rate in the Thompson Okanagan Region remained at 8.1% October.
Source: Statistics Canada LFS
Airport Passenger Volumes
As expected, passenger numbers in Q3 continue to reflect the negative impacts of the COVID 19 pandemic on the airline, aviation and tourism industries in Kamloops. Passenger traffic is slowly recovering domestically with the increased services of WestJet Air Canada and Central Mountain Air However, as travel restrictions and quarantine requirements remain in effect for transborder, international and some interprovincial travelers, recovery for those sectors will be much slower.
Source: Kamloops Airport Authority
Real Estate
The average MLS® residential price in BC set a record of $812,960, a 12.5 per cent increase from $722,333 recorded the previous year.
Sources: Kamloops and District Real Estate Association, BC Real Estate Association, and Canadian Real Estate Association
Housing Sales across the Province October 2020
| Board | Avg. Price ($) | Unit Sales |
|---|---|---|
| Kamloops | 466,113 | 337 |
| Greater Vancouver | 1,105,234 | 3,787 |
| Fraser Valley | 843,952 | 2,230 |
| Victoria | 791,355 | 936 |
| Chilliwack | 616,857 | 391 |
| Okanagan Mainline | 668,825 | 1,062 |
| Vancouver Island | 541,037 | 1,041 |
| South Okanagan | 506,543 | 259 |
| Kootenay | 392,039 | 434 |
| BC Northern | 345,114 | 482 |
| Powell River | 472,055 | 56 |
| Northern Lights | 274,417 | 36 |
Housing Construction
There were 93 new housing starts in Kamloops in October 2020, which was down from the 111 starts in October 2019. The 93 housing starts represented $15,679,993 in construction value, compared to $24,185,198 in construction value for the 111 housing starts in October of the previous year.
Source: City of Kamloops; Statistics Canada
Building Permits
In October 2020, the City of Kamloops issued 65 residential building permits valued at $16,509,669, an decrease over total permits issued in October of the previous year at a value of $24,492,198. A total of 14 commercial building permits were issued in October 2020 with a value of $2,157,000 compared to the 8 permits issued in October 2019 with a value of $12,269,140.
Source: City of Kamloops
Business Licenses
Kamloops issued 90 new business license applications in October 2020 up from the 58 from the previous year.
567
Business Licenses
Issued (YTD)
441
Residential Building Permits
Issued (YTD)
104
Commercial Building Permits
Issued (YTD)
Source: City of Kamloops
