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