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October 27, 2017 4:22 pm

P.G. Economy Expected to Slow

Thursday, July 27, 2017 @ 9:48 AM

Prince George, B.C.- The Conference Board of Canada is predicting housing will be the  economic driver in Prince George  for the next year.The Conference Board of Canada’s Mid Sized Cities Outlook,  says  Prince George’s  economic growth will slow  to  about 1.5% in the coming year  largely because of challenges in the forest industry.

Prince George had  averaged  economic growth of  2.2%  annually  between 2012 and 2016,   while a 1.5%  growth is still healthy, the  Board  says  “the ongoing negative impact of the mountain pine beetle on wood supply, the imposition of tariffs on softwood lumber entering the U.S., and a struggling mining sector will keep the industry’s growth in check.”

The  Conference Board  concludes ” the insurance and real estate industry will continue to benefit from a strong housing market, making it Prince George’s fastest-growing industry in 2017. ”   The Board also  predicts  job growth  to  show a 5% increase this year.

In its economic update,  the City of Prince George  reflects positive notes , showing  more people  were  working in Prince George in June  compared to the  same month a year ago.  June 2017 saw   an employment rate of 66.2%  .  That employment rate is  higher  than the provincial  mark of 62.5%  and the National  rate which was 61.6%

Total employment in the Cariboo Economic Development region was 81,300 for June. This represented a net increase of 300 jobs when compared to the previous month. Manufacturing saw the highest increase with the addition of 800 jobs in each category. Truck Transportation had the highest decrease with a decrease of 600 jobs.



it has already started, Chevron on the by pass just raised their rates a dime..from 96.4 to 106.9..

    What grade of fuel? Costco 93.9 all others 96.9.

Truck Transportation loss of 600 Jobs seems to be awful high. Not sure how they come up with these stats.

    Spring break up and then keeping their EI claims open… I guess we can’t expect the economists in Toronto to understand this much. Otherwise it defies explanation.

      Most mills in the area are lower on log inventories then I have ever seen them. Almost to the point of off loading logs straight into the mill. The managers are putting just in time to its limits and the adjustment could be seen in the drop in driving jobs over the term of this report?

Oh its just a coincidence folks. The downturn in economies and the NDP coming into power, is all one big coincidence. lol

Can’t wait for all the 20-30 year olds to witness this gov’t they were so in love with.

    i think it is really unfair to put the blame on 20 to 30 year olds. There is nothing out there to suggest that.

    the greens owned the government and they sold out their party to Horgan.

      BC Racer. How many Greens have you talked to who feel they have been sold out.

      I havent heard anything like that except from a few people posting here.

    Wow NDP in for a few weeks and already being blamed for everything going wrong in BC and maybe even the world. Lets look back at the last 16 years maybe we can blame the NDP for everything else that has happened also. Or was everything perfect under the Libs.

      It isn’t one big coincidence…

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