City’s Latest Economic Update Released
Prince George, B.C.-Unemployment, new housing prices and housing starts were all ‘up’ in Prince George in November, says the newly released City of Prince George Economic Update.
The report is something that used to be produced by Initiatives Prince George. Now that IPG ‘s role has been moved to City Hall, the report is being produced ‘in house”.
According to the report, the employment rate in Prince George (65.8%) was better than the Provincial (60.1%) and national (61.2%) stats in November.
When it comes to those who were without work during the same period, Prince George’s unemployment rate of 6.5% was higher than B.C.’s (5.9%) and nearly matched the national rate of 6.6%.
On the subject of housing, the reports says 23 newly built single detached homes were sold in P.G. in November at an average price of $437,715. That’s well above the average selling price of $405,031 for the 16 new homes which sold in the same month in 2014.
44 housing starts in Prince George in November was an increase over the 28 starts in the same month a year ago.
Although there were fewer building permits issued in November (30) than in November 2014 , the value of the permits was nearly the same. November 2015’s thirty permits were valued at $6.4 million, while the same month a year ago 46 permits were issued with a total value of $6.9 million.
Comments
Economic update = pay more for everything including BC taxes in the new year.
that unemployment stat is not really correct as it only indicates those who are drawing EI it fails to include those who are not working and living on other sources of income.
something wrong with thee stat however…. typo maybe?
According to the report, the employment rate in Prince George (65.8%) was better than the Provincial (60.1%) and national (61.2%) stats in November.
60% + seems just a little elevated.
Communities with a younger demographic typically have a higher employment rate.
Time they improved their web site. I put “economic update” into the search engines and got nothing remotely resembling the report. :-)
“Prince George is the largest city in one of the fastest growing regions in Canada.”
That is what it says on the economic development site.
Is there anyone here who can provide me with some details of that? Like maybe some BCstats or Census Canada data which would confirm that.
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