Bryan Yu

Home construction heats up after winter freeze

Housing starts bounced higher in February following a weather-induced January drop. Urban B.C. housing starts came in at an annualized rate of 38,286 units, up 55% from the 24,561 units the previous...

B.C. employment continues to decline

Softening employment patterns extended into February. Total employment in the province fell 0.3% or by 6,500 persons in February to 2.54 million workers. Notwithstanding month-to-month fluctuations...

B.C. weekly pay grows by 3.7% year-over-year

B.C. employees saw little change in their pay from November, with average weekly earnings essentially the same at $1,012. Despite the lull, year-over-year growth accelerated to 3.7% from 3.3% the...

Clothing, appliances help boost B.C. retail

B.C. retailers saw modest positive momentum heading into 2020 with retail spending at bricks-and-mortar stores up 0.1% in December to $7.26 billion. This followed a 1.4% increase in...

B.C. housing market feels winter chill

B.C. Multiple Listing Service (MLS) home sales declined 14% from December to a seasonally adjusted 6,763 units as the blast of winter weather kept buyers on the sidelines. While sales rose 22.7%...

Weather, virus take toll on home sales in January

The strong upswing in Lower Mainland Multiple Listing Service home sales ended abruptly in January following a near uninterrupted recovery since March. We calculate a near 12% seasonally adjusted...

B.C. weekly earnings, business confidence up

According to Statistics Canada’s Survey of Employment, Payrolls and Hours (SEPH), average weekly earnings fell 0.4% in November to $1,011 to negate October gains. Despite this, year-over-year growth...

Food, shelter costs hurting growth of B.C. retail sales

Consumers were not in a spending mood heading into the holidays. While rebounding 1.1% in November following a prior-month decline, B.C. retail sales remained sluggish. Year-over-year growth...

Increased demand drives B.C. home sales recovery

After starting the year at depressed levels, provincial Multiple Listing Service home sales maintained upward momentum through December. Seasonally adjusted sales rose 2.5% from November to 7,953...

B.C. employment, housing starts drop in December

B.C.’s labour market faltered at the end of 2019. Employment slipped 0.3%, to add to November’s 0.7% decline, marking a drop of 7,700 positions to 2.54 million persons. Metro Vancouver declined 0.8%...