economy

Greater Victoria may be picturesque, but it has one of the worst vacancy rental rents in the country with 1.6 per cent in 2023, according to a report from CMHC. But Greater Victoria’s rate is better than Metro Vancouver’s rate of 0.9 per cent. (Black Press Media File Photo)

Rental squeeze tighter in Vancouver, Victoria despite growing supply: CMHC

Metro Vancouver’s vacancy rate below Canada’s, Greater Victoria’s slightly above it

Greater Victoria may be picturesque, but it has one of the worst vacancy rental rents in the country with 1.6 per cent in 2023, according to a report from CMHC. But Greater Victoria’s rate is better than Metro Vancouver’s rate of 0.9 per cent. (Black Press Media File Photo)
Vancouver-West End MLA Spencer Chandra Herbert, middle right, here seen speaking to renters, Wednesday announced $11 million from the provincial government for the rent bank program. (Black Press Media file photo)

B.C. banks an additional $11 million for immediate renter help

Spencer Chandra Herbert, MLA for Vancouver West-End, announced rent bank top-up Wednesday

Vancouver-West End MLA Spencer Chandra Herbert, middle right, here seen speaking to renters, Wednesday announced $11 million from the provincial government for the rent bank program. (Black Press Media file photo)
Premier David Eby, here seen in early November 2023, said his government is close to announcing “better cooperation” with the federal government on financial support for heat pumps as well as heating costs generally. (Screencap) (Screencap)

B.C. Premier Eby signals ‘better co-operation’ with Ottawa on heat pumps

Housing and critical infrastructure other points of discussion with federal leaders

Premier David Eby, here seen in early November 2023, said his government is close to announcing “better cooperation” with the federal government on financial support for heat pumps as well as heating costs generally. (Screencap) (Screencap)
The Bank of Canada kept its overnight lending rate at 5 per cent, but a senior economist with TD forecasts that interest rate cuts are on the horizon, which promise to ease housing costs in B.C. But B.C.’s economy is not predicted to grow as fast as the rest of the country’s. (THE CANADIAN PRESS/Sean Kilpatrick)

TD forecasts B.C.’s housing costs to ease with interest rate cuts on horizon

Bank of Canada held overnight lending rate at 5 per cent, but TD forecasts cuts in 2024

The Bank of Canada kept its overnight lending rate at 5 per cent, but a senior economist with TD forecasts that interest rate cuts are on the horizon, which promise to ease housing costs in B.C. But B.C.’s economy is not predicted to grow as fast as the rest of the country’s. (THE CANADIAN PRESS/Sean Kilpatrick)
As the Bank of Canada gears up to announce its next interest rate decision Wednesday, economists will on the lookout for any clues on when it plans to start cutting interest rates. The Bank of Canada is shown in Ottawa on Tuesday, July 12, 2022. THE CANADIAN PRESS/Sean Kilpatrick

All eyes on the BoC this week for hints on when it may cut interest rates

Forecasters expect cut to happen as early as this spring

As the Bank of Canada gears up to announce its next interest rate decision Wednesday, economists will on the lookout for any clues on when it plans to start cutting interest rates. The Bank of Canada is shown in Ottawa on Tuesday, July 12, 2022. THE CANADIAN PRESS/Sean Kilpatrick
Premier David Eby, here seen speaking in Victoria in Novemeber, announced Tuesday (Jan. 16) that BC Hydro would spend $36 billion over the next decade to generate more power in B.C. (Screencap)

Eby announces $36 billion for BC Hydro infrastructure over next 10 years

Premier David Eby announced the spending Tuesday in Prince George

Premier David Eby, here seen speaking in Victoria in Novemeber, announced Tuesday (Jan. 16) that BC Hydro would spend $36 billion over the next decade to generate more power in B.C. (Screencap)
Metro Vancouver is the most indebted region in Canada with a per capita consumer debt of just under $361,000, according to a new survey. It links rising consumer debt with B.C.’s lack of housing affordability. (THE CANADIAN PRESS/Darryl Dyck)

B.C.’s Metro Vancouver and Greater Victoria top Canada’s debt map: report

Per capita consumer debt close to $361,000 in Metro Vancouver, under $306,000 in Greater Victoria

Metro Vancouver is the most indebted region in Canada with a per capita consumer debt of just under $361,000, according to a new survey. It links rising consumer debt with B.C.’s lack of housing affordability. (THE CANADIAN PRESS/Darryl Dyck)
The provincial film industry bounced back in December following the end of the respective strikes by Hollywood actors and writers. (Bob Orchard/Submitted)

B.C. unemployment up slightly despite creation of 74,000 new jobs

New figures show 2.83 million British Columbians employed in December 2023

The provincial film industry bounced back in December following the end of the respective strikes by Hollywood actors and writers. (Bob Orchard/Submitted)
Bank of Canada Governor Tiff Macklem arrives for the annual meeting of federal, provincial, and territorial finance ministers in Toronto on Friday, December 15, 2023. A slowing economy is expected to lay the groundwork for interest rate cuts as early as mid-2024, which would signal a turning point in the fight against inflation. THE CANADIAN PRESS/Nathan Denette

Inflation expected lower in 2024 as more feel pinch of high interest rates

Experts say Canadians can expect some price stabilization in the new year

Bank of Canada Governor Tiff Macklem arrives for the annual meeting of federal, provincial, and territorial finance ministers in Toronto on Friday, December 15, 2023. A slowing economy is expected to lay the groundwork for interest rate cuts as early as mid-2024, which would signal a turning point in the fight against inflation. THE CANADIAN PRESS/Nathan Denette
Salvation Army Major Michael Ramsay helps a student load a box of food into the Salvation Army truck at Alberni District Secondary School on Tuesday, Nov. 28. A new survey commissioned by the Salvation Army found almost seven out of 10 British Columbians faced food challenges last year. (ELENA RARDON / Alberni Valley News)

Nearly 7 of 10 British Columbians face food challenges, survey finds

Sally Ann survey finds 1 in 5 British Columbians concerned about having enough cash for basic needs

Salvation Army Major Michael Ramsay helps a student load a box of food into the Salvation Army truck at Alberni District Secondary School on Tuesday, Nov. 28. A new survey commissioned by the Salvation Army found almost seven out of 10 British Columbians faced food challenges last year. (ELENA RARDON / Alberni Valley News)
More than half of British Columbians (56 per cent) report feeling worried about their finances this holiday season and about a third cannot afford to buy gifts for their loved ones. (THE CANADIAN PRESS/Justin Tang)

1 in 3 B.C residents say they cannot afford to buy holiday gifts this year

Survey: Inflation depresses Christmas spending in B.C., with nearly 75% cutting back spending

More than half of British Columbians (56 per cent) report feeling worried about their finances this holiday season and about a third cannot afford to buy gifts for their loved ones. (THE CANADIAN PRESS/Justin Tang)
Finance Minister Katrine Conroy says her ministry’s housing forecast are prudent. They show 4,000 fewer new housing starts in 2024 than in 2023. (Black Press Media file photo)

B.C. forecasts smaller deficit, but also fewer housing starts in 2024

Finance Minister Katrine Conroy delivered fiscal update for the second quarter of 2023

Finance Minister Katrine Conroy says her ministry’s housing forecast are prudent. They show 4,000 fewer new housing starts in 2024 than in 2023. (Black Press Media file photo)
Plastic shopping bags, along with a wide range of containers made out of certain plastics, will be banned Dec. 20. (Neil Corbett/The News)

B.C.’s soon-to-be ban on certain plastics feeds entrepreneurial boom

Co-founder of company offering sustainable foodware products welcomes Dec. 20 ban

Plastic shopping bags, along with a wide range of containers made out of certain plastics, will be banned Dec. 20. (Neil Corbett/The News)
Federal government cabinet minister Harjit Sajjan sees optimistic signs of economic recovery for Canada over the next year. (File photo)

Interest rate fall prediction generates optimism for Canadians

Harjit Sajjan says decline in interest rates on the horizon

Federal government cabinet minister Harjit Sajjan sees optimistic signs of economic recovery for Canada over the next year. (File photo)
Renee Merrifield, MLA Kelowna-Mission, was among several BC United MLA Monday (Nov. 20) attacking CleanBC, the provincial government’s plan to lower greenhouse gas emissions by 40 per cent below 2007 by 2030. Several New Democratic ministers including Premier David Eby himself defended the plan. (Screencap)

BC United calls the NDP’s climate change plan an attack on B.C.’s well-being

Premier David Eby accused BC United of being ‘desperate’ and saying ‘anything to get elected’

Renee Merrifield, MLA Kelowna-Mission, was among several BC United MLA Monday (Nov. 20) attacking CleanBC, the provincial government’s plan to lower greenhouse gas emissions by 40 per cent below 2007 by 2030. Several New Democratic ministers including Premier David Eby himself defended the plan. (Screencap)
A passenger gets into an Uber rideshare in San Francisco. Labour Minister Harry Bains announced new prosposals to protect ride-hail and food-delivery workers. (Kevin N. Hume/S.F. Examiner)

New measures to protect gig workers in B.C. coming in early 2024

Expert, labour leader call measures a good first step but insufficient

A passenger gets into an Uber rideshare in San Francisco. Labour Minister Harry Bains announced new prosposals to protect ride-hail and food-delivery workers. (Kevin N. Hume/S.F. Examiner)
Premier David Eby, seen here in Nova Scotia, warns against playing affordability off against climate change. During a meeting with federal and territorial leaders in Nova Scotia he held up an “I Heart Heat Pumps” T-shirt during interviews. (Screencap)

‘Mistake’ to play affordability off against climate change, says B.C. premier

Eby calls Ottawa’s handling of carbon tax exemption ‘startling’ and ‘disturbing’

Premier David Eby, seen here in Nova Scotia, warns against playing affordability off against climate change. During a meeting with federal and territorial leaders in Nova Scotia he held up an “I Heart Heat Pumps” T-shirt during interviews. (Screencap)
New legislation passed last week promises to make it easier for foreign-trained workers to enter 29 professions, including early childhood education. (Submitted)

New law recognizing foreign-trained professionals passes in B.C. legislature

Workers trained abroad work and earn less, but needed with one million job openings over next decade

New legislation passed last week promises to make it easier for foreign-trained workers to enter 29 professions, including early childhood education. (Submitted)
Clayoquot Sound clocked in with B.C.’s highest living wage for 2023 at $26.51, according to the latest data calculated by the Canadian Centre for Policy Alternatives. A living wage is the hourly wage that two parents working full time must earn in order to support a family of four based on the actual costs of living in a particular community. (File photo)

Living wage leaps past $25 an hour in 8 B.C. communities

Nanaimo had the highest percentage increase at nearly 13%

Clayoquot Sound clocked in with B.C.’s highest living wage for 2023 at $26.51, according to the latest data calculated by the Canadian Centre for Policy Alternatives. A living wage is the hourly wage that two parents working full time must earn in order to support a family of four based on the actual costs of living in a particular community. (File photo)
Newfoundland and Labrador Premier Andrew Furey and B.C. Premier David Eby held a joint news conference Tuesday prior to signing a statement of cooperation around clean energy generally and the hydrogen economy specifically. (Screencap)

B.C. eyes green hydrogen economy with cross-country partnership

Premier David Eby Tuesday signs partnership agreement with Newfoundland and Labrador premier

Newfoundland and Labrador Premier Andrew Furey and B.C. Premier David Eby held a joint news conference Tuesday prior to signing a statement of cooperation around clean energy generally and the hydrogen economy specifically. (Screencap)