As we enter the mid-way point of 2017, the job market in the Thompson-Okanagan continues to fluctuate. However the good news is that total employment in the area has increased slightly since 2015. StatsCan data states that the Thompson-Okanagan area has a population base of 439,500 with total employment at 252,500 up from 250,000 in 2015. Here’s a look at how the region stacked up to the rest of the province in 2015:
Data is from the StatsCan Labour Force Survey and Work BC.
- As of March 2017, the region had an unemployment rate of 8.3%
- During this same time Kelowna’s unemployment rate was 6.5%
- Approximately 77% of the jobs in the Thompson-Okanagan are in the Services industry with 23% being in the Goods industry (Source: Labour Force Survey)
- The employment rate went up 3.9% Year-over-Year when comparing March 2017 to 2016
- Overall, the unemployment rate went down from 7.8% to 6.5% during this same time
According to data from Workbc.ca, here is a look at the Top Industries and the Top careers for the Thompson-Okanagan:
Top 5 Industries
- Health Care / Social Assistance
- Accommodation / Food Service
Top 5 Careers
- Urban and Land use Planners
- Logging Machinery Operators
- Insurance Adjusters / Claim Examiners
- Insurance Agents / Brokers
Career profiles available at Workbc.ca.
Housing Stats for the Okanagan
The following data is from the Okanagan Mainline Real Estate Board
- Home sales across the Okanagan region of Revelstoke to Peachland took a sharp upward turn in May, with 1,132 homes sold, a 38% increase over April, with 6% fewer sales than this time last year
- May 2017 average pricing was $513,492, up from last year’s high of $486,636 recorded last May.
- Average number of days on market, (or the average time it takes to sell a home), was 73 days in May, as compared to 75 days in April and 77 days this time last year.
- In terms of buyers of homes in the Okanagan region, the largest percentage continues to be those who reside in the region at 56%, with Lower Mainland/Vancouver Island buyers at 20%, and Albertans at 8.5%, according to a Buyers Survey of homes sales that closed in April.
2017 has seen strong activity in the job and housing market in the Okanagan. With home sales spiking the job market remains steady as more and more people enter the Okanagan to work, rest and play. Kelowna traditionally has been a challenging place to find employment, but we may be on the verge of a shifting trend as the area sees innovation in the tech sector. In addition over the next ten years the area is expected to see nearly 77,000 job openings as a result of the need to replace retiring workers as we reported on in an article from last year.
Need help with recruiting or HR? Or perhaps you are looking for a job in the Okanagan? Contact Aspire Recruitment Solutions at 778-484-0161.
Aspire Recruitment Solutions is the leading human resource solution and employment agency provider to clients in Kelowna, Vernon, Kamloops, Northern BC and Alberta. We connect great employers with the best candidates every day.