 |
|
|
| |
|
|
| In November 2018, Prince George's unemployment rate was 5.2%, a decrease of 0.1% compared to the same month in 2017 when it was 5.3%. The unemployment rate of 5.2% for Prince George was higher than the provincial rate of 4.4% but lower than the national rate of 5.6%.
Prince George's employment rate in November 2018 was 63.3%, a decrease of 5.4% from the same month in November 2017 when it was 68.7%
. The employment rate of 63.3% for Prince George was higher than British Columbia's provincial rate of 62.4% and Canada's national rate of 61.7%.
Total employment in the Cariboo Economic Development region was 75,900 during November 2018. This represents a decrease of 2800 jobs when compared to the previous month. The Cariboo region job numbers have reduced by 3,400 since January 2018 when total employment was 79,300. The Transportation sector had the highest increase in November with an additional 600 jobs being added. The Mining and Oil and Gas and social Assistance sectors decreased by 1600 jobs.
|
|
The BC Northern Real Estate Board (BCNREB) reported the average house sale price (single detached) for November 2018 was $337,878 with 56 units sold in Prince George. For November 2017, the average house sale price was $350,297 with 66 units sold. The average house sale price has decreased 3.5% when compared to the same month last year.
|
The Canadian Mortgage and Housing Corporation (CMHC ) reported 36 (14 SFD, 22 multiples) total housing starts in Prince George during November 2018 compared to 9 (9 SFD, 0 multiple) in November 2017. This is an increase of 300% over the same month last year. There were 15 (9 SFD, 6 multiples) completions in November 2018 while November 2017 had 82 (66 SFD, 16 multiples) completions for both single family and multiple family dwellings.
Year-to-date total housing starts in Prince George were up to 360 in November 2018, compared to 210 total housing starts through November 2017, an increase of 71%. Year-to-date total housing completions in Prince George reinforce this economic activity; in 2017 Prince George recorded 149 total housing completions during this time period while 2018 year-to-date total housing completions totalled 294, an increase of 97%. Both statistics reflect strong performance this year for the construction industry in Prince George.
Across BC, housing starts decreased by 16.6% from 3,781 (1,021 SFD, 2,760 multiples) in November 2017 to 3,152 (818 SFD, 2,334 multiples) in November 2018. The total number of completions in BC decreased by 15.6% from 3,553 (1,240 SFD, 2,313 multiples) in November 2017 to 2,996 (963 SFD, 2,033 multiples) in November 2018. |
|
The City of Prince George issued 58 building permits valued at $9,319,401 in November 2018, which included $6,201,823 in single family permits, $1,635,828 in multiple family permits, and $3,917,100 in commercial permits.
This is a 25% increase in total dollar value of permits over November 2017 when 33 permits were issued at a value of $7,451,241.
Year-to-date building permit statistics continue to track the strong building activity in Prince George for 2018. In November 2018, a year-to-date total value of $182,029,079 in building permits were issued compared to November 2017 when year-to-date building permits came in at $115,737,322. This represents a very positive economic indicator for Prince George in 2018 with additional economic spin-offs, both direct and indirect, across a broad array of sectors including goods and services.
The complete
Monthly Building Permit Report
for November 2018 and detailed descriptions of building permits issued is available on the City of Prince George website.
|
The City of Prince George issued 3 new business licenses in November 2018.
The
Monthly Business License Report for November 2018 is
available on the
City of Prince George website.
|
|
In November 2018, 42,558 passengers moved through the Prince George International Airport (YXS). This was a decrease of 3% or 1,316 less passengers than November 2017 when passenger volume was 43,874. Year-to-date air passenger traffic at YXS for 2018 is up 1.61% over volumes recorded in 2017.
|
The City of Prince George Economic Development Division offers a
dashboard that provides relevant
up-to-date
economic data including the following: population, demographics, labour, tax, quality of life, housing, transportation, household income, education, companies, and utilities. Powered by Townfolio, this statistical tool is designed to help businesses and the community gain access to up-to-date statistics about the Prince George economy.
Follow us on social media too!
|
|
|
|
|
|
|
|
