Thompson-Okanagan Economic Region Workforce Insights

Key Insights

  • Employment decreased by 1,500 jobs from the previous month and increased by 7,200 jobs compared to the same month last year.
  • Full-time Employment decreased by 400 jobs from the previous month and increased by 7,500 jobs year-over-year.
  • Part-time Employment decreased by 1,000 jobs from the previous month and decreased by 100 jobs year-over-year.
  • Unemployment remained unchanged at 0 people from the previous month and increased by 1,600 compared to the same month last year.

Workforce Composition by Status

In the most recent month, Full-time Employment decreased by 400 jobs from last month and increased by 7,500 jobs compared to the same month last year.

Part-time Employment decreased by 1,000 jobs from last month and decreased by 100 jobs year-over-year.

The number of Unemployed individuals remained unchanged at 0 from the previous month and increased by 1,600 compared to last year.

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Employment, Unemployment, and Participation Rate

The Employment Rate remained unchanged at 0 percentage points year-over-year.

The Unemployment Rate increased by 0.3 percentage points from a year ago.

The Participation Rate increased by 0.2 percentage points year-over-year.

Jobs Added or Lost by Month

Employment levels decreased by 1,500 jobs in the most recent month and increased by 7,200 jobs compared to the same month last year.

In the most recent month, there was a net decreased by 1,500 jobs. Over the last year, the labor market has seen a net increased by 7,200 jobs in total.

Top 3 Industries in Goods Sector

  • Construction : 36,200 workers.
  • Manufacturing : 25,000 workers.
  • Forestry, fishing, mining, quarrying, oil and gas : 11,400 workers.

The Goods sector is mainly driven by industries such as Construction, Manufacturing, and Agriculture, which together account for a substantial share of the workforce.

Top 3 Industries in Services Sector

  • Health care and social assistance : 54,100 workers.
  • Wholesale and retail trade : 35,000 workers.
  • Professional, scientific and technical services : 23,500 workers.

In the Services sector, Health Care, Retail, and Professional Services lead employment, representing a dominant portion of the workforce.

Top 5 Industries by Change from Previous Month

  • Wholesale and retail trade : Change of 4,200 workers ( decreased by 10.71 %).
  • Information, culture and recreation : Change of 2,200 workers ( increased by 17.74 %).
  • Finance, insurance, real estate, rental and leasing : Change of 2,100 workers ( increased by 17.07 %).
  • Utilities : Change of 1,600 workers ( decreased by 100 %).
  • Business, building and other support services : Change of 1,200 workers ( decreased by 11.65 %).

These industries saw the largest month-over-month changes, indicating short-term trends.

Top 5 Industries by Change from Same Month Last Year

  • Health care and social assistance : Change of 13,000 workers ( increased by 31.63 %).
  • Wholesale and retail trade : Change of 12,700 workers ( decreased by 26.62 %).
  • Construction : Change of 7,900 workers ( increased by 27.92 %).
  • Educational services : Change of 6,700 workers ( decreased by 28.63 %).
  • Public administration : Change of 6,600 workers ( increased by 70.97 %).

The year-over-year changes provide insights into longer-term shifts, highlighting industries that have grown or declined significantly.

Conclusion

The overall employment trend is positive, with strong growth in the past year. Key industries driving the trend are: Construction, Manufacturing, Wholesale and retail trade, Professional, scientific and technical services, Health care and social assistance.

Local Workforce Insights

Key Local Labour Market Insights

  • Total local employment reached 6,920 in November 2024, it expanded by 590 jobs from October and grew by 640 jobs year-over-year.
  • The local employment rate registered 58.3%. It grew of 5.0 percentage points from October and increased by 4.2 percentage points from same month last year.
  • Local unemployment rate reached 7.3%. It increased by 0.9 percentage points month-over-month, and decreased by 0.6 percentage points year-over-year.

Employment Trends

Total employment in November 2024 was 6,920, showing a notable increase of 590. from November, employment levels improved by 640, showing strength.

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Employment Rate Dynamics

The employment rate reached 58.3% in November 2024. This represents a rise of 5.0 percentage points from October (53.3%). Year-over-year, the rate improved by 4.2 percentage points from 54.1%.

Unemployment Rate Trends

The unemployment rate was 7.3% in November 2024, up 0.9 percentage points from October. Compared to November last year (7.9%), the rate has decreased by 0.6 percentage points.

Employment: Regional vs Local Patterns

The moderate correlation (0.33) between regional and local employment levels indicates some alignment in employment trends. This suggests that local employment partially reflects regional patterns.

Employment Rate: Regional vs Local Patterns

Employment rates show a weak correlation (0.27) between regional and local levels. This suggests distinct local employment rate patterns, suggesting that local labor market conditions operate independently.

Unemployment Rate: Regional vs Local Patterns

The unemployment rate correlation of 0.18 shows a weak relationship. This points to distinct local unemployment dynamics, indicating that local unemployment follows its own distinct pattern.

Revelstoke consists of the following communities: Revelstoke, Columbia-Shuswap B, Columbia-Shuswap E, Sicamous .

Monthly Local Workforce Trends

Updated monthly, local monthly workforce trends focus on total employment, and employment unemployment rates estimates at "small-area" level.

Revelstoke consists of the following communities: Revelstoke, Columbia-Shuswap B, Columbia-Shuswap E, Sicamous .

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Local area

Employment Trends

Total employment in November 2024 was 6,920, showing a notable increase of 590. from November, employment levels improved by 640, showing strength.

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Local area

Employment Rate Dynamics

The employment rate reached 58.3% in November 2024. This represents a rise of 5.0 percentage points from October (53.3%). Year-over-year, the rate improved by 4.2 percentage points from 54.1%.

Unemployment Rate Trends

The unemployment rate was 7.3% in November 2024, up 0.9 percentage points from October. Compared to November last year (7.9%), the rate has decreased by 0.6 percentage points.

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Local area

Employment Rate: Regional vs Local Patterns

Employment rates show a weak correlation (0.27) between regional and local levels. This suggests distinct local employment rate patterns, suggesting that local labor market conditions operate independently.

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Local area

Unemployment Rate: Regional vs Local Patterns

The unemployment rate correlation of 0.18 shows a weak relationship. This points to distinct local unemployment dynamics, indicating that local unemployment follows its own distinct pattern.

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Economic region

Workforce Composition by Status

In the most recent month, Full-time Employment decreased by 400 jobs from last month and increased by 7,500 jobs compared to the same month last year.

Part-time Employment decreased by 1,000 jobs from last month and decreased by 100 jobs year-over-year.

The number of Unemployed individuals remained unchanged at 0 from the previous month and increased by 1,600 compared to last year.

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Economic region

Employment, Unemployment, and Participation Rate

The Employment Rate remained unchanged at 0 percentage points year-over-year.

The Unemployment Rate increased by 0.3 percentage points from a year ago.

The Participation Rate increased by 0.2 percentage points year-over-year.

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Economic region

Jobs Added or Lost by Month

Employment levels decreased by 1,500 jobs in the most recent month and increased by 7,200 jobs compared to the same month last year.

In the most recent month, there was a net decreased by 1,500 jobs. Over the last year, the labor market has seen a net increased by 7,200 jobs in total.

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Economic region

Top 3 Industries in Goods Sector

  • Construction : 36,200 workers.
  • Manufacturing : 25,000 workers.
  • Forestry, fishing, mining, quarrying, oil and gas : 11,400 workers.

The Goods sector is mainly driven by industries such as Construction, Manufacturing, and Agriculture, which together account for a substantial share of the workforce.

Top 3 Industries in Services Sector

  • Health care and social assistance : 54,100 workers.
  • Wholesale and retail trade : 35,000 workers.
  • Professional, scientific and technical services : 23,500 workers.

In the Services sector, Health Care, Retail, and Professional Services lead employment, representing a dominant portion of the workforce.

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Economic region

Top 5 Industries by Change from Previous Month

  • Wholesale and retail trade : Change of 4,200 workers ( decreased by 10.71 %).
  • Information, culture and recreation : Change of 2,200 workers ( increased by 17.74 %).
  • Finance, insurance, real estate, rental and leasing : Change of 2,100 workers ( increased by 17.07 %).
  • Utilities : Change of 1,600 workers ( decreased by 100 %).
  • Business, building and other support services : Change of 1,200 workers ( decreased by 11.65 %).

These industries saw the largest month-over-month changes, indicating short-term trends.

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Economic region

Top 5 Industries by Change from Same Month Last Year

  • Health care and social assistance : Change of 13,000 workers ( increased by 31.63 %).
  • Wholesale and retail trade : Change of 12,700 workers ( decreased by 26.62 %).
  • Construction : Change of 7,900 workers ( increased by 27.92 %).
  • Educational services : Change of 6,700 workers ( decreased by 28.63 %).
  • Public administration : Change of 6,600 workers ( increased by 70.97 %).

The year-over-year changes provide insights into longer-term shifts, highlighting industries that have grown or declined significantly.

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Economic region

Conclusion

The overall employment trend is positive, with strong growth in the past year. Key industries driving the trend are: Construction, Manufacturing, Wholesale and retail trade, Professional, scientific and technical services, Health care and social assistance.

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Employment rate Provincial Comparison

Among 94 small areas in British Columbia, Revelstoke ranks 14th with an employment rate of 58.3%. The provincial range is 23.4% to 67.4%, with half of areas between 37.2% and 56.9% (median: 51.5%).

Unemployment rate Provincial Comparison

Among 94 small areas in British Columbia, Revelstoke ranks 62nd with an unemployment rate of 7.3%. The provincial range is 3.7% to 13.4%, with half of areas between 5.6% and 7.5% (median: 6.4%).

Thompson-Okanagan Economic region — Labour Market Outlook

Total Job Openings

Most Job Openings

Job openings and employment by occupation and industry for the period 2023-2033

Forecasted number of new job openings in the period 2023-2033

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Data source: Labour Market Analytics, Forecasting & Information

Forecasted employment in the period 2023-2033

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Data source: Labour Market Analytics, Forecasting & Information

High-opportunity occupations

High opportunity occupations by NOC based on forecasted number of job openings in the period 2023-2033

Data source: Labour Market Analytics, Forecasting & Information

BC workforce supply composition for the period 2023-2033

Forecasted number of new job market entrants in the period 2023-2033

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Data source: Labour Market Analytics, Forecasting & Information

These job openings provide a forecast for the demand for labour with the associated education background. This is a demand projection only and is not a measure of how many graduates the B.C. education system needs to produce. These job openings are projected to be supplied through a mix of young B.C. residents starting work after being educated either in B.C. or other jurisdictions, immigrants, migrants from other provinces, or existing residents pursuing additional education.

Planners should take these other possible sources of supply into account when using these projections for post-secondary program planning purposes.