The number of people employed in the Thompson Okanagan Region decreased slightly from 250,600 in February 2017 to 244,600 in February 2018. Simultaneously, the number of people in the labour force decreased from 274,100 in February 2017 to 264,500 in February 2018. Last month, employment rates were 61.3% in B.C. and 61.0% in Canada, while the Thompson Okanagan Region was 55.1%. The unemployment rate in the Thompson Okanagan Region increased from 7.2% in January to 7.5% in February.
Source: Statistics Canada LFS
Number of Postings by Occupation, in Kamloops for 2017
Airport Passenger Volumes
Airport passenger volumes increased slightly from 27,751 in February 2017 to 29,510 in February 2018.
Source: Kamloops Airport Authority
In February 2018, a total of 223 residential units were sold in Kamloops, up from the 215 total units in February of the previous year. New listings were down from 403 in February 2017 to the 376 in February 2018, and the total value of residential units sold increased to $81,860,530 (2018) from $71,595,138 (2017). The average home price in Kamloops was $437,000 in February compared to the BC average of 748,327 and the Canadian average of $494,000.
The actual (not seasonally adjusted) national average price for homes sold in February 2018 was just over $494,000, down 5% from one year earlier. The decline demonstrates the impact of GTA sales activity on the national average price. The national average price is heavily skewed by sales in the GVA and GTA, two of Canada's most active and expensive markets. Excluding these two markets from calculations trims more than $112,000 from the national average price, reducing it to just under $382,000.
Sources: Kamloops and District Real Estate Association, BC Real Estate Association, and Canadian Real Estate Association
There were 10 new housing starts in Kamloops in February 2018. This is in comparison to 11 starts in February 2017. The 10 housing starts represented $2,745,071 in construction value, compared to $3,205,535 in construction value for the 11 housing starts in February of the previous year.
Source: City of Kamloops; Statistics Canada
In February 2018, the City of Kamloops issued 22 residential building permits valued at $3,555,166 down from the 60 permits issued in February of the previous year at a value of $9,492,082. A total of 6 commercial building permits were issued in February 2018 with a value of $3,164,720 up from the 13 permits issued in February 2017 with a value of $1,557,000.
Source: City of Kamloops
Kamloops issued 56 new business license applications in February 2018, down from 70 the previous year.
Residential Building Permits
Commercial Building Permits
Source: City of Kamloops