A new Conference Board of Canada report says Vernon’s economy has contracted for five consecutive years.
According to the report, Vernon’s total gross domestic product went from $2.1 million in 2005 to $1.5 million in 2012. It also states that Vernon’s total employment declined from 31,300 in 2005 to 19,000 in 2012.
However, Kevin Poole, Vernon’s economic development manager, questions the validity of the report because it is based on federal and provincial statistics.
“One of the key challenges we’ve had is that the survey size for the Canadian Labour Force Survey in our area is too small and has skewed our numbers to the point where in my opinion they are not usable,” he said.
Poole also wonders if the report factors activity in Spallumcheen and Lumby.
“If you look at the industrial base, it’s in those communities.”
Poole says he will be looking at the Conference Board of Canada report further.
Look for more details in Wednesday’s Morning Star.
