Employment


The number of people employed in the Thompson Okanagan Region decreased slightly from 270,900 in December 2019 to 270,500 in December 2020. Simultaneously, the number of people in the labour force increased from 285,200 in December 2019 to 293,100 in December 2020. Last month, employment rates were 59.5% in B.C. and 59.4% in Canada, while the Thompson Okanagan Region was 58.5%. The unemployment rate in the Thompson Okanagan Region increased to 7.7% in December.

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 was $847,600, an increase of 12.5 per cent from December 2019. Total sales dollar volume was $7 billion, a 77.5 per cent increase year-over-year.

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

Housing Sales across the Province December 2020


Board Avg. Price ($) Unit Sales
Kamloops 492,106 211
Greater Vancouver 1,079,033 3,157
Fraser Valley 898,028 1,967
Victoria 769,941 576
Chilliwack 593,764 279
Okanagan Mainline 711,577 661
Vancouver Island 517,203 689
South Okanagan 546,372 172
Kootenay 424,241 221
BC Northern 319,182 286
Powell River 374,775 32
Northern Lights 254,676 689

Housing Construction


There were 87 new housing starts in Kamloops in December 2020, which was up from the 16 starts in December 2019. The 87 housing starts represented $13,069,972 in construction value, compared to $3,715,088 in construction value for the 16 housing starts in December of the previous year.

Source: City of Kamloops; Statistics Canada

Building Permits


In December 2020, the City of Kamloops issued 26 residential building permits valued at $14,007,761, an increase over total permits issued in December of the previous year at a value of $4,363,688. A total of 14 commercial building permits were issued in December 2020 with a value of $3,775,139 compared to the 17 permits issued in December 2019 with a value of $11,791,917.

Source: City of Kamloops

Business Licenses


Kamloops issued 42 new business license applications in December 2020 down from the 58 from the previous year.

682

Business Licenses
Issued (YTD)

500

Residential Building Permits
Issued (YTD)

132

Commercial Building Permits
Issued (YTD)

 

Source: City of Kamloops