In an effort to keep the public and business community informed on the economic recovery of the region, the COEDC - the region's primary business resource - has just released the Q2 Economic Indicators Report highlighting key economicc data for the Central Okanagan. In addition, the COEDC has published the Jan- June 2022 Job Market Indicators Report that provides a snapshot of the Central Okanana's labour force and job market through data collected from Vicinity Jobs, a real-time labour market information technology platform.
Access the full Q2 2022 Economic Indicators Report here.
Access the full Jan-June 2021 Job Market Indicators Report here.
Highlights reported by Kelowna International Airport (YLW) saw airport passenger numbers in the first half of 2022 increase 311.1% compared with the same period in 2021. Highlights reported by the Canadian Mortgage and Housing Corporation saw housing starts in the region increase 38.9% comparing Jan-June 2022 to Jan-June 2021 with the focus remaining on multi-family units.
Looking at the Job Market Indicators, job postings for Jan-June 2022 are up 52.1% when compared to Jan-June 2021. This is reflective of economic growth and increased demand for workforce in the region. In addition, job seekers (individuals who created a profile in job portals) are up 11.3% in Jan-June 2022 compared to the same period in 2021.
Note the Commission collects the above third party statistical data from BC Stats, Statistics Canada, CMHC, Vicinity Jobs, and local governments in the Central Okanagan. Caution should be used in the interpretation of month-to-month statistics, in particular the Labour Force Survey, a monthly sample survey which provides unemployment rates of the Canadian labour market.