BC Economy
CPAs are on the front lines of business in this province, and they see firsthand what issues are affecting investment and the economy. CPABC provides CPAs and the public with timely economic updates and analysis on British Columbia as a place to WORK, INVEST, and LIVE.
BC Check-Up 2024 Live
The 2024 BC Check-Up Live report focuses on affordability and demographic trends amid record population growth . The report finds that BC added more than 162,000 residents between July 1, 2022 to July 1, 2023, coming entirely from international migration. In the housing market, higher interest rates kept home prices below the March 2022 peak, but prices have stabilized over the past year. Still, housing affordability remains one of the biggest challenges in the province. Results from CPABC’s member survey showed that 61% of respondents expected housing affordability to worsen in their region in 2024.
Press Release
BC Check-Up Invest
The 2024 BC Check-Up Invest report focuses on investment trends across the province and in each of the province’s seven development regions. The report highlights that housing starts reached a record high in 2023, but other indicators showed mixed results amid higher interest rates. Weak economic growth is expected for 2024, with GDP per person forecasted to fall for the second consecutive year. Major project activity is also expected to decline in the coming years, as many large natural resource projects approach completion. Meanwhile, the provincial government announced its largest capital spending package ever in the 2024/25 budget.
Press Release
BC Check-Up Work
The 2023 BC: Check-Up Work report focuses on labour-market trends across the province and in each of the province’s seven economic development regions. The report finds that BC’s labour market has been resilient to economic headwinds, despite showing some signs of softening over the last year. Employment gains were muted relative to surging population growth, and the unemployment rate jumped from 4.3% in September 2022 to 5.4% in September 2023. However, average wages grew at a faster pace than inflation, and labour-market conditions remained strong in a historical context.
BC Check-Up Archive
BC's tipping point
BC Check-Up: Investment climate shows strength in housing construction, but challenges in economic growth and major projects
Investing in BC
What are the benefits of BC’s Pay Transparency Act?
Work in BC
Life in BC - Immigration driving growth as housing crisis persists
CPABC: BC’s population growth surges in 2022 as international migration picks up
How can BC focus on policies that boost economic outlook?
Economic update: Inflation slowing, BC labour market strong, and forestry industry struggles
CPABC: Building investment strong in 2022, but high inflation and interest rates weaken outlook
Economic update: Inflation slowing but remains high; BC adds more jobs
A look at the federal underused housing tax
Economic update: Interest rates may have peaked as inflation begins to slow
Holiday spending up this season, though inflation weighing: PwC Report
Despite economic challenges, BC facing record labour shortages
Employee benefits inflation projection for 2023
Economic update – BC’s labour market remains strong, but rising interest rates and housing costs cause challenges
The Cullen Commission: What's next?
Work in BC
Work-life balance preferred over big salaries, CPAs say
Economic update: Inflation, interest rates, and weakening employment challenge BC’s recovery
What do the recent interest rate hikes mean for Canadians?
CPABC: B.C. housing shortage creates affordability crunch
The high cost of living in British Columbia
Uneven BC economic recovery: Price escalation, robust labour market
CPABC: BC's population growth continued to slow into 2021, housing prices a major deterrent
BC springs forward with strong economy, but inflationary and labour supply pressures loom
BC Check-Up: Invest
Greater Victoria starts 2022 off with low unemployment, but high job vacancies
Kicking off 2022 with record employment and job vacancies in the Thompson-Okanagan
BC ended 2021 with robust labour market, but employment growth lags population gains
BC employment continues to exceed pre-pandemic levels, exports reach record highs
PwC forecasts holiday spending to be up a third this year
Employee benefits inflation update for 2022
Work in British Columbia
Employment gains over past year pushes BC workforce above pre-pandemic levels
CPABC: B.C.’s labour market tightening as workforce up over 150,000 positions since September 2020
CPABC's 2022-2023 Budget Submission: A focus on tax modernization to encourage economic resurgence
CPABC: With limited fiscal room, B.C. government should focus on tax modernization to spur growth
Life in British Columbia
PwC CEO Survey: Despite economic optimism, investment in employees and workplaces is critical
BC’s population growth slowed in 2020 while inadequate housing supply pushing prices higher
BC suffers job losses due to circuit breaker, but economy is still expected to resurge this year
Where does BC’s economy stand a year after the pandemic shut down our status quo?
CPABC: B.C.’s Budget 2021 Focused on Economic and Healthcare Supports
Ambitious 2021 federal budget offers $101 billion in new spending over coming years
Strong major project activity in Southwest B.C. may spark economic rebound
BC economy continues to recover in February, but challenges remain
Greater Victoria business activity and housing starts take a hit in 2020, but major investments should boost recovery
CPA profession appears at Cullen Commission into money laundering
Canadian economy hitting some bumps on road to recovery
Southwest B.C.’s employment recovering, but nearly 70,000 workers remain displaced
Thompson-Okanagan’s goods sector leading economic recovery
The fight continues
2020 is the year of working (out) from home
Why scaling up BC tech companies is critical to BC’s economy
COVID-19 employment disruption remains concentrated amongst B.C.’s youth
BC Check-Up: Work
CPABC: Despite recent gains, COVID-19 continues to displace over 100,000 workers across B.C.
At 12.3 per cent, Southwest B.C.’s summer unemployment rate highest in B.C.
BC continues strong job growth and recovery in consumer spending in September
The new retail experience: How COVID-19 rapidly accelerated the shift in customer demands
July data sees BC’s economic recovery continue, but recent COVID-19 outbreaks pose threat
BC’s road to recovery: Supporting displaced workers
June economic data: BC continues recovery from COVID-19
Federal deficit to hit $343 billion from COVID-19 economic fallout
CPABC: Bolstering B.C. business productivity key to economic recovery
Worst appears to be behind us with encouraging May economic data on BC’s COVID-19 recovery
BC’s economy: Full impact of COVID-19 still unknown as economy prepares to reopen
BC’s road to recovery – Minimizing the economic fallout
BC’s economic outlook: Bleak now, brighter in the future
Economic forecasts: COVID-19's impact expected to bring Canada, BC in recession
Economic forecast uncertain, but COVID-19 containment can bring hope
CPABC: B.C.’s Budget 2020 Introduces New Measures to Maintain Balanced Budget and Affordability
Moderate Economic Growth to Continue into 2020
Walking on water, living the life
Affordability key to BC Budget 2019
Why modular housing can be one key solution to housing affordability
Ensuring B.C.’s business competitiveness
B.C. exporters should take advantage of Canada’s trade agreements
Temperature check: BC’s economic activity expected to cool down slightly
GDPR: What European privacy regulations mean for Canadian businesses
Bridging the gap – Skills vs. needs
Skills Training: An Essential for Employees & Entrepreneurs
A quiet crisis – youth employment
High cost of living impacts business competitiveness
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