COEDC Releases Combined Q2 Economic Indicators and Job Market Indicators

Uncategorized August 30, 2024

The Regional District of Central Okanagan’s Economic Development Commission (COEDC) is excited to announce a significant update to its reporting process, combining the Economic Indicators and Job Market Indicators into a single, comprehensive resource. Previously, economic indicators were released quarterly, and job market indicators were issued twice a year. This new combined approach will streamline our reporting schedule, by publishing both sets of data together on a quarterly basis. Released last week, the Q2 Economic Indicators offers statistics and notable highlights on thirteen economic indicators as well as the Central Okanagan’s labour force and the job market.

By consolidating these key data points, the COEDC is further empowering decision-makers with an enhanced resource necessary to drive sustainable economic growth in the Central Okanagan.

“This integrated approach provides a more comprehensive view of the region’s economic health, offering local businesses, regional partners, entrepreneurs and stakeholders a complete perspective on both economic performance and labour market trends,” says Krista Mallory, Manager of the COEDC.

As noted in the Q2 Economic indicators, housing starts demonstrated a significant increase by 53.8% in the first half of 2024 compared to the same period in 2023. Another notable increase includes a 3.2% rise in airport passengers.

In contrast, job postings depicted an overall decrease by 24.5% in the first two quarters this year. Job postings varied by occupation, with a 65.89% increase in postings for Trades, Transport & Equipment Operators, while postings in Education, Law, Social, Community & Government Service occupations decreased by 35.4%.

The COEDC’s publication of Economic indicators is vital for the region’s strategic planning, development and attraction of business investments. This quarterly report offers insights into the local economic climate and employment trends, enabling businesses and stakeholders to make data-driven decisions and stay up to date.

Both reports and the economic profile are publicly available on investkelowna.com/resources.  To learn more about the COEDC and what they do, visit investkelowna.com. To stay informed and up to date on all COEDC resources and data releases, sign up for their newsletter at investkelowna.com/newsletter.