PRINCE GEORGE, British Columbia, June 11, 2019 (GLOBE NEWSWIRE) -- According to CPABC’s Regional Check-Up report, in 2018 the Cariboo Development Region added 1,700 jobs in the goods sector and pushed employment in this to 23,900 positions.
“In addition to rebuilding from the fires, an onset of new construction activity fueled our region’s employment. This included a construction boom in Prince George’s residential and institutional development, as well as considerable industrial and residential building construction at Williams Lake,” said Stan Mitchell, CPA, CA, partner at KPMG LLP in Prince George. “As a result, the construction industry added 1,200 jobs in 2018.”
At the same time, the region’s manufacturing industry added 1,100 new jobs, pushing the industry’s employment to its highest point in the past five years. This was partially due to increased activity in paper and wood products manufacturing.
The success of the region’s construction and manufacturing industries helped to offset challenges faced by its mining industry in 2018. Two key challenges were the volatility of copper pricing, and limited access to water. As a result, the major mines in the Cariboo reduced production and Mount Polley announced that it would be suspending operations at the end of May 2019. The region’s forestry industry also experienced challenges, as multiple factors reduced lumber production.
While employment in Cariboo’s goods sector thrived, its service sector decreased by 2,000 jobs, with many employers finding it challenging to fill jobs, particularly in occupations related to sales and services, trades, transport and equipment operation. Part of this challenge was due to 2,100 individuals leaving the region’s work force.
“Looking at the first quarter of 2019, goods sector employment continued to expand, adding 1,000 jobs altogether. This was led by continued growth in the construction industry,” noted Mitchell. “At the same time, our service sector added 1,300 jobs, recovering much of the losses incurred in 2018. This was largely due to gains in the trade, health care and social assistance, as well as educational services industry.”
About CPABC Regional Check-Up – Cariboo:
The Cariboo Development Region comprises the Cariboo and Fraser-Fort George Regional Districts, and accounts for 3.4 per cent of B.C.’s total population.
The CPABC Regional Check-Up reports look at British Columbia’s eight Development Regions as a place to work, invest, and live. The reports are available online at: www.bccheckup.com.
About CPA British Columbia
The Chartered Professional Accountants of British Columbia (CPABC) is the training, governing, and regulatory body for over 36,000 CPA members and 5,000 CPA students and candidates. CPABC carries out its primary mission to protect the public by enforcing the highest professional and ethical standards and contributing to the advancement of public policy. CPAs are recognized internationally for bringing superior financial expertise, strategic thinking, business insight, and leadership to organizations.
For more information or to arrange an interview, contact:
Vivian Tse, Public Affairs Manager
604.488.2647
vtse@bccpa.ca