CPABC in Focus July/August 2016 | Page 17

Working in regional BC Job creation BC’s employment grew by 27,800 jobs in 2015, reaching a total of 2.31 million—more than twice the number of jobs created in 2014 (see Table 1). Most of this growth occurred in Southwest BC, where the number of jobs increased by 21,300 new positions. The Vancouver Island/Coast Development Region gained 5,300 new jobs last year, 90% of which were generated in the services sector. Northwest BC, which includes the North Coast and Nechako development regions, saw the third-highest gain, with 3,100 new jobs. The Northeast, Kootenay, and Thompson-Okanagan saw comparatively small gains of 1,600, 1,500, and 1,000 jobs, respectively, and the Cariboo was the only development region to experience a decline, with a loss of 5,900 jobs. BC’s goods sector generated 9,200 new jobs in 2015 (an increase of 2.1% from 2014), bringing the total number of jobs in this sector to 459,100. The most significant growth, which took place in the manufacturing industry and accounted for 11,100 new jobs, was driven by greater output of wood, food, dairy, and other products, such as medical equipment and supplies. Most of the growth in the goods sector occurred in Southwest BC, the Thompson-Okanagan, and Northwest BC. Gains in this sector were offset by losses of 2,100 jobs in agriculture and 1,700 jobs in the forestry, fishery, and mining and oil and gas industries. BC’s services sector accounted for approximately two-thirds of the province’s overall employment gain in 2015, with the creation of 18,700 Table 1: Employment in All Development Regions, 2010-2015 (000s) Job Creation (000s) Region 2010 2011 2012 2013 2014 2015 5-Year 1-Year 2010-15 2014-15 Cariboo Kootenay Mainland/Southwest Northeast Northwest BC Thompson-Okanagan Vancouver Island/Coast British Columbia  Goods  Services 79.6 81.1 84.7 81.6 85.3 79.4 -0.2 68.1 70.6 72.8 76.5 67.5 69.0 0.9 1,366.1 1,387.5 1,413.7 1,418.2 1,446.9 1,468.2 102.1 37.2 37.4 40.1 39.8 38.5 40.1 2.9 41.2 43.5 39.8 40.7 39.1 42.2 1.0 253.0 250.0 252.7 246.6 249.0 250.0 -3.0 377.8 357.8 358.6 362.2 352.0 357.3 -20.5 2,223.0 2,227.8 2,262.5 2,265.6 2,278.4 2,306.2 83.2 436.6 431.7 441.4 442.1 449.9 459.1 22.5 1,786.5 1,796.1 1,821.0 1,823.5 1,828.5 1,847.2 60.7 -5.9 1.5 21.3 1.6 3.1 1.0 5.3 27.8 9.2 18.7 Source: Statistics Canada, Labour Force Survey Historical Review, Custom Table. 16.RTurnbullBarChartAd 2016-05-31 11:05 AM Page 1 O DLU MB R OWN.CO M Disciplined Value Investing That Works Odlum Brown Model Portfolio: A Proven Track Record Odlum Brown Model Portfolio* S&P/TSX Total Return Index 15.1% Ross Turnbull, CPA, CA, CBV, CFA Vice President, Director, Portfolio Manager T 604 844 5363 or 1 888 886 3586 [email protected] 8.2% cineuno/iStock/Thinkstock 0.7% 1-YEAR -6.1% SINCE DECEMBER 15, 1994 Visit odlumbrown.com/rturnbull for more information. *Compound annual returns are from inception December 15, 1994 to May 15, 2016. The Odlum Brown Model Portfolio was established by the Research Department in December 1994, with a hypothetical investment of $250,000. Trades are made using the closing price on the day a change is announced. These are gross figures before fees. Past performance is not indicative of future performance. Member-Canadian Investor Protection Fund. CPABC in Focus • July/August 2016 17