Regional Statistics & Research Update
Comox Valley Economic Development's services include the collection and provision of economic data and statistics about the region. To view additional resources click here.
130 single-family homes sold in the Comox Valley in June 2016, a 2% increase over June 2015. 12 months-to-date single-family unit sales were 944, a
14% increase over the same period last year. The average single-family unit selling price for June 2016 was $396,481, a 13% increase over June 2015. There were 20 housing starts in June 2016, a 42% decrease over June 2015. There have been 128 housing starts YTD, a 48% decrease over last year YTD.
Source: VIREB Graph Stats Comox Valley, Canadian Mortgage and Housing Corporation
The BC unemployment rate decreased from 6.1% in May 2016 to 5.9% in June 2016. The labour force grew by 0.5% while the participation rate fell by 0.2%. The number of employed increased 0.7% and the number of unemployed fell by 2.7% from May 2016 to June 2016. The Vancouver Island/Coast Development region's 3-month moving average unemployment rate saw a 0.8% decrease from 5.8% to 5.1% in June from May, with an increase of 3,200 employed.
Source: Statistics Canada Labour Force Survey, Highlights prepared by BC Stats
Data is Seasonally Adjusted
Consumer Price Index
The Consumer Price Index (CPI) in BC rose 2.0% in June 2016 over June 2015. The inflation rate rises to 2.5% when energy is excluded. The CPI in metropolitan areas of BC, Victoria and Vancouver, rose 1.8% and 2.4% respectively. Canada's CPI increased by 1.5% in June, with Newfoundland & Labrador having the highest increase (2.4%) and Quebec having the lowest (0.6%).
Source: Statistics Canada Consumer Price Index, Highlights prepared by BC Stats
Additional Hotel Room Tax Revenues for January - April 2016 are up 44% over the same period in 2015, with a 62% increase in April 2016 over April 2015; True Visitor Parties at the Vancouver Island Visitor Centre in June were up 11.7% over June 2015, and are up 6.47% YTD. The Comox Valley Airport has seen an increase in passenger volumes of 5.1% in June 2016 over 2015, and a YTD increase of 10.4% over 2015.
Source: AHRT Report, VIVC Report, Comox Airport Passenger Volumes
News & Events
BC Seafood Expo a Great Success
The BC Seafood Expo, held June 9-10 in the Comox Valley, brought together leading shellfish & seafood producers, suppliers, distributors, chefs, exporters and experts. Over 30 speakers presented in 14 sessions. As well, over 35 international seafood buyers from Euope, Asia and the United States were hosted.
Read more about the Expo success here
North Island Hospitals Project Employment Hits New High
Employment numbers hit 1000 people working on the
North Island Hospitals Project
in April and is expected to stay in this range in the months to come. The construction of the new hospitals will create an estimated 2,200 direct jobs and more than 1,400 indirect jobs, and the project has purchased $165 million worth of equipment from Island suppliers. Find out more in the
July Newsletter here
Small Business BC announces INSPIRE Celebration of Entrepreneurship Launch Event
Small Business BC
TD Bank Group
will launch the 10th Annual Small Business Month in BC province's largest Small Business Month event, the 7th Annual INSPIRE Celebration of Entrepreneurship. The event will be held on Thursday, September 29, 2016 at the TELUS World of Science in Vancouver and have a panel discussion that features several prominent small business founders in BC.
Find out more here.