Date post: | 15-Apr-2017 |
Category: |
Economy & Finance |
Upload: | cpabc |
View: | 334 times |
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BC continues to be leader in GDP growth, due to...Revived export sector and improved tourism; and
Continued population growth and positive consumer confidence.
OUTLOOK FOR BC’S ECONOMY IS OPTIMISTIC
BC REMAINED IN SOLID FISCAL SHAPE IN 2015
THE GOOD…
3.1% real annual GDP growth
+27,800 new jobs
+44,724 new residents
THE BAD…
Marginal export growth
Highest consumer debt per capita in Canada
Lowest average compensation rate in Canada
BC IS IMPROVING AS A PLACE TO WORK
Two-thirds of 27,800 new jobs occurred in service sector.
Over 70.2% of BC labour force has at least some post-
secondary education.
Share of employment in sciences increased to 7.2%.
Average labour compensation increased to $53,373.
BC IS STILL A GOOD PLACE TO INVEST
Private sector non-residential building investment
increased by 2.8% to $3.97 billion.
Value of exports increased marginally despite low
commodity and energy prices.
BC is one of two provinces to declare a surplus for
fiscal 2016/17.
BC IS FACING CHALLENGES AS A PLACE TO LIVE
Consumer debt per capita reached $60,043, largely
due to mortgage debt to pay for high housing costs.
Households spent on average 76.9% median income
on housing in Vancouver and 45.8% in Victoria.
5.9% of labour force between ages 19 and 24 did not
complete high school education.