ECONOMIC UPDATE
June 2020
VIEW TRENDING ECONOMIC DATA FOR JUNE 2020
Every month, the Economic Development division at the City of Prince George tracks economic indicators to better understand the business climate in Prince George. Data included in the monthly analysis covers several areas, including employment rates and numbers, real estate developments and transactions, building permit values, business license applications, and airport passenger statistics.
Information is gathered from a variety of sources, including Statistics Canada, the BC Northern Real Estate Board, the Canada Housing and Mortgage Corporation, the City of Prince George, and the Prince George Airport Authority.
JUNE 2020 ECONOMIC INDICATORS
Down 12,400 jobs in the Cariboo Economic Development Region in June 2020. Wholesale and Retail Trade and Transportation and Warehousing are the main industries creating new jobs.
BUILDING PERMITS DECREASE
  • The total value of building permits issued in Prince George through the end of June, 2020 reached $15.2M. This was $16M behind when comparing to June, 2019.

  • There was an increase of $1.6M in Residential Permits when comparing to June, 2019.
BUSINESS LICENCE NUMBERS
  • There were 49 new business licence applications in June, 2020 compared to 61 in May, 2020.
AIR PASSENGER TRAFFIC
  • The Prince George Airport (YXS) reported 39,368 passengers in June, 2019. In June of this year there was a 91.1% decrease with 3,505 passengers arriving and departing.
REAL ESTATE SALES AND HOUSING CONSTRUCTION IN PRINCE GEORGE
  • There were 99 homes sold in June, 2020. There was a decrease between the two periods with 125 homes sold in June, 2019.

  • The average house sale price was $404,664 in June, 2020. There was an increase compared to last June when there was an average house sale price of $370,443.

  • There were more Single Family Dwelling starts and completions in June, 2020 compared to June, 2019.

View more housing statistics, including average rent, housing structure types, and more, through the Townfolio dashboard.
COVID-19 is having far-reaching impacts on the economy. Information and resources are available to help businesses cope with issues brought on by the pandemic
City of Prince George, 1100 Patricia Boulevard, Prince George, BC V2L 3V9
Email: ecdev@princegeorge.ca | Telephone: 250-561-7633 | Fax: 250-561-7724
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