The number of people employed in the Thompson Okanagan Region increased from 253,300 in August 2016 to 267,900 in August 2017. Simultaneously, the number of people in the labour force increased from 271,700 in August 2016 to 286,100 in August 2017. Last month, employment rates were 63.1% in B.C. and 62.5% in Canada, while the Thompson Okanagan Region was 60.6%. The unemployment rate in the Thompson Okanagan Region increased from 5.6% in July to 6.4% in August.
Source: Statistics Canada LFS
Number of Postings by Occupation, in Kamloops for Q2 2017
Airport Passenger Volumes
August traveler numbers were down significantly as a result of cancelled flights due to obscuring smoke from nearby wildfires.
Source: Kamloops Airport Authority
In August 2017, a total of 362 residential units were sold in Kamloops, down from the 399 total units in August of the previous year. New listings were up from 509 in August 2016 to the 529 in August 2017, and the total value of residential units sold decreased to $126,874,790 (2017) from $138,910,662 (2016). The average home price in Kamloops was $425,000 in August compared to the BC average of $678,186 and the Canadian average of $472,247.
The actual (not seasonally adjusted) national average price for homes sold in August 2017 was $472,247, up 3.6% from where it stood one year earlier. The national average price is heavily skewed by sales in Greater Vancouver and Greater Toronto, two of Canada's most active and expensive markets. Excluding these two markets from calculations trims almost $100,000 from the national average price ($373,859).
Sources: Kamloops and District Real Estate Association, BC Real Estate Association, and Canadian Real Estate Association
There were 42 new housing starts in Kamloops in August 2017. This is in comparison to 125 starts in August 2016. The 42 housing starts represented $11,867,810 in construction value, compared to $19,897,100 in construction value for the 125 housing starts in August of the previous year.
Source: City of Kamloops; Statistics Canada
In August 2017, the City of Kamloops issued 64 residential building permits valued at $12,552,890 down from the 48 permits issued in August of the previous year at a value of $20,929,584. A total of 24 commercial building permits were issued in August 2017 with a value of $4,076,687 up from the 10 permits issued in August 2016 with a value of $2,213,445.
Source: City of Kamloops
Kamloops received 60 new business license applications in July 2017, up from 49 the previous year.
Business Licenses Issued (YTD)
Residential Building Permits Issued (YTD)
Commercial Building Permits Issued (YTD)
Source: City of Kamloops