Kamloops Economic Statistics March 2017

Here are the latest statistics for March 2017 from Venture Kamloops:

 

Employment


Created with Highcharts 4.2.1Unemployment Rate8.6%8.6%8.6%5.7%5.7%5.7%6.9%6.9%6.9%9.3%9.3%9.3%6.8%6.8%6.8%7.3%7.3%7.3%20172016Thompson NicolaRegion BCCanada
Created with Highcharts 4.2.1Employment RateFebruary 201757.1 %57.1 %57.1 %60.6 %60.6 %60.6 %60.9 %60.9 %60.9 %Thompson NicolaRegion BCCanada

The number of people employed in the Thompson Okanagan Region increased from 237,700 in February 2016 to 250,600 in February 2017. Simultaneously, the number of people in the labour force increased slightly from 262,000 in February 2016 to 274,100 in February 2017. Overall, the employment rate decreased slightly from 57.6% in January to 57.1% in February. Last month, employment rates were 60.5% in B.C. and 60.9% in Canada, while the Thompson Okanagan Region was 57.1%. The unemployment rate in the Thompson Okanagan Region was the same at 8.6% in January to 8.6% in February.

Source: Statistics Canada LFS

Airport Passenger Volumes


27,751 passengers moved through the Kamloops Airport in February 2017, which is down from the 31,090 passengers recorded in February 2016.

Source: Kamloops Airport Authority

Created with Highcharts 4.2.1Airport Passenger Volumes27,75127,75127,75157,71757,71757,71731,09031,09031,09062,32362,32362,32320172016Monthly TravelersYTD Travelers

Real Estate


Created with Highcharts 4.2.1Average Residential PriceFebruary 2017$379,500$379,500$379,500$380,000$380,000$380,000KamloopsKamloops & District

In February 2017, a total of 217 residential units were sold in Kamloops, up from the 210 total units in February of the previous year. New listings were down from 403 in February 2017 to the 507 in February 2016, and the total value of residential units sold increased from $71,226,408 (2016) to $71,983,138 (2017). The average home price in Kamloops was $379,500 in February compared to the BC average of $688,117 and the Canadian average of $519,521. According to statistics released today by The Canadian Real Estate Association (CREA), national home sales were up on a month-over-month basis in February 2017. Home sales over Canadian MLS® Systems rose by 5.2% month-over-month in February 2017 to reach the highest level since April 2016.

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

Housing Construction


There were 11 new housing starts in Kamloops in February 2017. This is in comparison to 87 starts in February 2016. The 11 housing starts represented $3,206,535 in construction value, compared to $10,043,285 in construction value for the 87 housing starts in February of the previous year.

Source: City of Kamloops; Statistics Canada

Created with Highcharts 4.2.1Number of Housing Starts YTD21212187878720172016

Building Permits


Created with Highcharts 4.2.1Construction Value ComparisonFebruary 2017$6,764,869$6,764,869$6,764,869$2,173,373$2,173,373$2,173,373$12,643,705$12,643,705$12,643,705$2,380,000$2,380,000$2,380,00020172016Residential (YTD)Commercial (YTD)

In February 2017, the City of Kamloops issued 18 residential building permits valued at $3,368,215 down from the 40 permits issued in February of the previous year at a value of $10,605,730. A total of 13 commercial building permits were issued in February 2017 with a value of $1,557,000 up from the 7 permits issued in February 2016 with a value of $715,000.

Source: City of Kamloops

Business Licenses


Kamloops received 70 new business license applications in February 2017, up from 59 the previous year.

128

Business Licenses Issued (YTD)

37

Residential Building Permits Issued (YTD)

20

Commercial Building Permits Issued (YTD)

 

Source: City of Kamloops

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Doren Quinton

Doren Quinton

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CENTURY 21 Desert Hills Realty (2010) Ltd.
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