Central Okanagan Economic Development Commissions’ Latest Snapshot
The Central Okanagan Economic Development Commission (COEDC) has released its 2018 fourth quarter economic indicators report. The report, and previous reports, can be found here.
Some of the exciting highlights include:
- the unemployment rate being down to 5.0% from 5.5% in same quarter the previous year;
- a 49.3% increase in job postings; and
- a record 2,080,372 passengers at YLW in 2018, making it Canada’s 10th busiest; and
- business licenses seeing a 4.5% increase in 2018 with Peachland leading the way at a 14.2% increase.
Please also see some of the infographics below excerpted from the report.
The statistics all point to an exciting future and continuing growth in the Okanagan. They also point to some challenges the Okanagan will be facing and the opportunities that come with approaching and resolving such challenges.
We are excited by the growth the Central Okanagan has experienced and look forward to assisting our clients with respect to challenges and opportunities the future foretells.
Note the COEDC collects the above third party statistical data from BC Stats, Statistics Canada, CMHC, and local governments in the Central Okanagan. Caution should be used in the interpretation of month-to-month statistics, in particular the Labour Force Survey, a monthly sample survey which provides unemployment rates of the Canadian labour market.
Thank you to the COEDC and Corrie Griffiths for preparing the economic indicators report and much of the content of this article.