economy

Bank of Canada Governor Tiff Macklem Wednesday announced an interest rate cut of 0.25 per cent to 4.75 per cent, the first cut since March 2020. (THE CANADIAN PRESS/Adrian Wyld)

B.C. housing starts, sales should increase after interest rate cut: experts

Bank of Canada lowers interest rate by 0.25 per cent to 4.75 per cent

 

B.C.’s minimum wage is going up on June 1 by 65 cents to $17.40 per hour, but a new report from Canadian Centre for Policy Alternatives, British Columbia, and Living Wage for Families BC, says the increase will still hundreds of thousands below the living wage for their community. (Black Press Media file photo)

B.C.’s minimum wage set to jump, still lags behind living wage: report

B.C.’s minimum wage will rise to $17.50 per hour June 1, but report wants $20 minimum wage

 

The rise of grocery prices slowed down in April 2024, according to new figures from Statistics Canada, which show annual inflation for April at 2.7 per cent. B.C.’s rate was 2.9 per cent. But economists suggest that the Bank of Canada could cut interest rates as early as June, meaning British Columbians could be paying less for mortgages and credit card bills. (THE CANADIAN PRESS/Cole Burston)

B.C.’s inflation rate remains higher than Canada’s, but relief on horizon

B.C.’s year-to-year-inflation in April 2024 was 2.9 while Canada’s rate was 2.7 per cent

 

Economic development officers from across B.C. are meeting in Penticton May 6 to 9 at the BC Economic Summit. Representatives from industry, as well as provincial, federal and First Nations representatives, will be attending. Issues include the state of the workforce as well health care. (Black Press Media file photo).

Workforce shortfalls top-of-mind at B.C. Economic Summit

Summit underway in Penticton against backdrop of labour shortages, concerns about rural health care

Economic development officers from across B.C. are meeting in Penticton May 6 to 9 at the BC Economic Summit. Representatives from industry, as well as provincial, federal and First Nations representatives, will be attending. Issues include the state of the workforce as well health care. (Black Press Media file photo).
Poverty and food security among children living in lone-parent households was on the rise in 2022, according to new figures from Statistics Canada. (Black Press Media file photo).

Child poverty spikes dramatically in B.C. single-mom families: StatsCan

Overall poverty rates and food insecurity up, while median after-tax incomes down

Poverty and food security among children living in lone-parent households was on the rise in 2022, according to new figures from Statistics Canada. (Black Press Media file photo).
B.C. is one of only two Canadian provinces that retain and attract more young skilled workers than they lose, but Alberta tops B.C. by a double-digit margin. (THE CANADIAN PRESS/Darryl Dyck)

B.C.’s ‘brain gain’ 2nd only to Alberta in terms of skilled young workers

Western-most pair the only provinces to attract and retain more than they train: Statistics Canada

B.C. is one of only two Canadian provinces that retain and attract more young skilled workers than they lose, but Alberta tops B.C. by a double-digit margin. (THE CANADIAN PRESS/Darryl Dyck)
Rising energy costs in March contributed to an uptick in B.C.’s inflation rate to 2.7 per cent, 0.2 per cent below Canada’s rate of 2.9 per cent. (THE CANADIAN PRESS/Darryl Dyck)

Higher gas prices pump up B.C.’s inflation rate slightly in March

B.C.’s 2.7 per cent rate remains below Canada’s rate of 2.9 per cent and Alberta’s of 3.5 per cent

Rising energy costs in March contributed to an uptick in B.C.’s inflation rate to 2.7 per cent, 0.2 per cent below Canada’s rate of 2.9 per cent. (THE CANADIAN PRESS/Darryl Dyck)
B.C. MP and energy minister Jonathan Wilkinson (right) last month signed an agreement with Germany represented by vice-chancellor Robert Habeck (left) to help “acclerate” the commercial-scale hydrogen trade between Canada and Germany. Former B.C. premier John Horgan, who now serves as Canada’s ambassador to Germany, attended the signing ceremony in Hamburg, represented by its Lord Mayor Peter Tschentscher. (Twitter)

Former B.C. premier Horgan helps sell Canadian hydrogen in Germany

But recent agreement between Canada and Germany will largely benefit Atlantic Canada

B.C. MP and energy minister Jonathan Wilkinson (right) last month signed an agreement with Germany represented by vice-chancellor Robert Habeck (left) to help “acclerate” the commercial-scale hydrogen trade between Canada and Germany. Former B.C. premier John Horgan, who now serves as Canada’s ambassador to Germany, attended the signing ceremony in Hamburg, represented by its Lord Mayor Peter Tschentscher. (Twitter)
Real estate sales in B.C. dropped by 9.5 per cent in March 2024 compared to March 2023, according to new figures from the British Columbia Real Estate Association. (THE CANADIAN PRESS/Evan Buhler)

B.C. homebuyers waiting on Bank of Canada to drop rates: economist

New figures show home sales in March 2024 dropped by 9.5 per cent compared to March 2023.

Real estate sales in B.C. dropped by 9.5 per cent in March 2024 compared to March 2023, according to new figures from the British Columbia Real Estate Association. (THE CANADIAN PRESS/Evan Buhler)
B.C.’s Finance Minister Katrine Conroy, here seen during during budget lockup in Victoria in February, acknowledged Tuesday that two credit rating agencies downgraded B.C.’s credit rating, but said B.C. also faced what she called a “deficit of infrastructure” (Black Press Media file photo)

B.C.’s credit rating takes 2 high-profile hits on the same day

First Standard and Poor’s, then Moody’s lower province’s credit score

B.C.’s Finance Minister Katrine Conroy, here seen during during budget lockup in Victoria in February, acknowledged Tuesday that two credit rating agencies downgraded B.C.’s credit rating, but said B.C. also faced what she called a “deficit of infrastructure” (Black Press Media file photo)
The latest job numbers show B.C.’s unemployment up by 0.3 per cent to 5.5 per cent in March. The health care and social assistance sector added 10,300 people, but the information, culture and recreation, and accommodation and food services sectors lost a combined 11,000 jobs. The construction industry gained jobs, but only marginally in the face of high interest rates.

March job numbers offer “mixed bag” for B.C. as unemployment rose slightly

Health care, social assistance sector added more than 10,000 jobs, but other key sectors lost jobs

The latest job numbers show B.C.’s unemployment up by 0.3 per cent to 5.5 per cent in March. The health care and social assistance sector added 10,300 people, but the information, culture and recreation, and accommodation and food services sectors lost a combined 11,000 jobs. The construction industry gained jobs, but only marginally in the face of high interest rates.
Keerit Jutla, president and CEO of the Association for Mineral Exploration, here seen in Smithers, wants to be part of technical working group struck by the province as reforms of the Mineral Tenure Act continue. Energy Minister Josie Osborne says AME will participate in the reform process, but not as a member of that technical group involving government and First Nations organizations. (Photo courtesy of Smithers Exploration Group)

B.C.’s mineral explorers want more input into mineral act reform

Association for Mineral Exploration in BC wants to join working group revising Mineral Tenure Act

Keerit Jutla, president and CEO of the Association for Mineral Exploration, here seen in Smithers, wants to be part of technical working group struck by the province as reforms of the Mineral Tenure Act continue. Energy Minister Josie Osborne says AME will participate in the reform process, but not as a member of that technical group involving government and First Nations organizations. (Photo courtesy of Smithers Exploration Group)
Jobs Minister Brenda Bailey, here seen announcing Canada’s first vehicle-to-grid pilot project in Surrey on Friday, Dec. 15, 2023, says new employment figures show that the provincial economy is holding steady. (Anna Burns/Surrey Now-Leader)

B.C.’s unemployment drops, but opposition fears loss of private-sector jobs

Credit rating agency raises concerns about B.C.’s financial trajectory, but maintains AA credit rating.

Jobs Minister Brenda Bailey, here seen announcing Canada’s first vehicle-to-grid pilot project in Surrey on Friday, Dec. 15, 2023, says new employment figures show that the provincial economy is holding steady. (Anna Burns/Surrey Now-Leader)
Fiona Famulak, president of the BC Chamber of Commerce, here seen with Premier David Eby in December, (Screencap)

B.C. business leader calls for ‘balance’ after government raises minimum wage

BC Chamber of Commerce’s Fiona Famulak worries about rising costs, while union leader praises hike

Fiona Famulak, president of the BC Chamber of Commerce, here seen with Premier David Eby in December, (Screencap)
Minimum wage workers in industries such as food and accommodation will see their hourly earnings rise to $17.40 on June 1. (Black Press Media file photo)

B.C. tying minimum wage increases to inflation permanently through new law

Minimum wage will rise to 65 cents to $17.40 on June 1 for most eligible workers

Minimum wage workers in industries such as food and accommodation will see their hourly earnings rise to $17.40 on June 1. (Black Press Media file photo)
Thursday is Budget Day in B.C. with Finance Minister Katrine Conroy publicly presenting the budget Thursday afternoon. (THE CANADIAN PRESS/Chad Hipolito)

2 B.C. budget wish lists: economists share what this province needs

Finance Minister Katrine Conroy will publicly table budget Thursday afternoon

Thursday is Budget Day in B.C. with Finance Minister Katrine Conroy publicly presenting the budget Thursday afternoon. (THE CANADIAN PRESS/Chad Hipolito)
Minister of Finance Katrine Conroy, here seen in February 2023 tabling her first budget, says tomorrow’s budget will target middle-class British Columbians, but the political opposition questions the direction. (THE CANADIAN PRESS/Chad Hipolito)

Minister says coming B.C. deficit budget aimed at helping middle-class

BC United and BC Greens question NDP’s priorities, call approach out of touch

Minister of Finance Katrine Conroy, here seen in February 2023 tabling her first budget, says tomorrow’s budget will target middle-class British Columbians, but the political opposition questions the direction. (THE CANADIAN PRESS/Chad Hipolito)
B.C.’s economy grew by just 0.9 per cent in 2023 and is forecast to grow only 0.7 per cent in 2024. THE CANADIAN PRESS/Adrian Wyld The mayor of Delta, B.C., calls the lack of communication from FortisBC “an egregious oversight” after the utility company failed to notify the public for more than four hours after a gas leak at a renewable gas plant. British Columbia’s provincial flag flies on a flagpole in Ottawa, Friday, July 3, 2020. THE CANADIAN PRESS/Adrian Wyld

Lacklustre economic growth expected in B.C. this year: report

Combination of local and global factors adds up to a forecast of 0.7% economic increase

B.C.’s economy grew by just 0.9 per cent in 2023 and is forecast to grow only 0.7 per cent in 2024. THE CANADIAN PRESS/Adrian Wyld The mayor of Delta, B.C., calls the lack of communication from FortisBC “an egregious oversight” after the utility company failed to notify the public for more than four hours after a gas leak at a renewable gas plant. British Columbia’s provincial flag flies on a flagpole in Ottawa, Friday, July 3, 2020. THE CANADIAN PRESS/Adrian Wyld
Frankie Nelson, left, business manager for Atlantic Power Inc.’s Williams Lake power plant, and Sean Gillespie, vice president of operations for Atlantic Power, spoke at the committee of the whole meeting at Williams Lake city hall on Feb. 6, 2024. (Ruth Lloyd photo - Williams Lake Tribune)

Williams Lake power plant, city’s biggest tax payer gives 1 year notice

Atlantic Power has given BC Hydro notice on the current contract, citing financial viability

Frankie Nelson, left, business manager for Atlantic Power Inc.’s Williams Lake power plant, and Sean Gillespie, vice president of operations for Atlantic Power, spoke at the committee of the whole meeting at Williams Lake city hall on Feb. 6, 2024. (Ruth Lloyd photo - Williams Lake Tribune)
The provincial government is promising additional support for Okanagan wine growers impacted by a shortage of grapes and a trade dispute with Alberta. (Black Press Media file photo)

Premier Eby questions Alberta’s reasoning behind trade dispute over B.C. wine

B.C. promises additional support as interprovincial wine dispute brews up

The provincial government is promising additional support for Okanagan wine growers impacted by a shortage of grapes and a trade dispute with Alberta. (Black Press Media file photo)