The first update of the digital State of the North economic dashboard went live on September 5.
In May, Northern Development officially launched the site, which contains all of the information and statistics previously found in the annual State of the North reports.
The following sections of the dashboard are updated with new stats and commentary:
-GDP
-Exchange Rate
-Unemployment Rate
-Labour Force
-Job Vacancies
-Bankruptcies
-Tourism
-Mining, Oil and Gas
Some takeaways from the updates:
-Across B.C., job vacancies and job vacancy rates have declined and are closer to pre-pandemic levels. Industries such as construction, accommodation and the food services sector show significant declines in job vacancies
-Hospitality sector employment is down, which is likely linked to elevated interest rates causing declining levels of discretionary spending
-Global natural gas prices trended downwards in the first half of 2024, amid excess global supply. However, drilling activity in B.C. has trended upwards to support export capacity coming online once LNG Canada begins operations in 2025
The next State of the North update will be posted in November.
