The number of people employed in the Thompson Okanagan Region increased from 258,800 in October 2018 to 281,900 in October 2019. Simultaneously, the number of people in the labour force increased from 274,100 in October 2018 to 295,500 in October 2019. Last month, employment rates were 62.5% in B.C. and 62.5% in Canada, while the Thompson Okanagan Region was 62.0%. The unemployment rate in the Thompson Okanagan Region increased from 4.5% in September to 4.6% in October.
Source: Statistics Canada LFS
Number of Postings by Occupation, in Kamloops
Airport Passenger Volumes
We’re continuing to recover from comparisons to last year’s record numbers which saw a stronger Rouge presence in 2018 than in 2019. Passenger growth from September to October is up over 9% which is approximately 2% higher than normal during the shoulder season transition and indicators are pointing to a strong finish toward year end. Effective October 27th, Air Canada Express increased its frequencies to both Vancouver and Calgary, providing better connections to these key markets.
Source: Kamloops Airport Authority
MLS® residential active listings in the province were up 1 per cent from September 2018 to 36,567 units, although down slightly when compared on a seasonally adjusted basis. With sales and listings down, overall market conditions in the province have tightened, with a sales-to-active listings ratio of 21 per cent.
Year-to-date, BC residential sales dollar volume was down 9 per cent to $45.3 billion, compared with the same period in 2018. Residential unit sales were 6.2 per cent lower at 65,468 units, while the average MLS® residential price was down 3 per cent year-to-date at $691,618.
Sources: Kamloops and District Real Estate Association, BC Real Estate Association, and Canadian Real Estate Association
There were 111 new housing starts in Kamloops in October 2019, which was up from the 63 starts in October 2018. The 111 housing starts represented $24,185,198 in construction value, compared to $18,358,322 in construction value for the 63 housing starts in October of the previous year.
Source: City of Kamloops; Statistics Canada
In October 2019, the City of Kamloops issued 41 residential building permits valued at $24,492,198 up from the 39 permits issued in October of the previous year at a value of $19,225,572. A total of 8 commercial building permits were issued in October 2019 with a value of $12,269,140 compared to the 7 permits issued in October 2018 with a value of $3,905,347.
Source: City of Kamloops
Kamloops issued 58 new business license applications in October 2019, up from 54 the previous year.
Residential Building Permits
Commercial Building Permits
Source: City of Kamloops