B.C. Business Matters:
For the past decade or so, amid readily available credit and ultra-low interest rates, Canadians have been piling up debt.
Policy Directions to Foster Strong and Inclusive Economic Growth
Last year, Canada’s economic performance and prospects received a fresh look from researchers at the Organization for Economic Cooperation and Development (OECD).
Firms in B.C. and Central Canada Report Widespread Capacity Pressures
The Bank of Canada’s Summer Business Outlook Survey provides some interesting insights into the extent of capacity pressures faced by companies across the country
B.C. Employment by Industry -- The Long View
Following up on our recent blog looking at long-term employment growth by occupation, we now examine which industries have contributed to B.C. employment growth over time.
B.C. Employment Growth by Occupation -- The Long View
How has the labour market in British Columbia changed over the past thirty years? How has technology reshaped it? What occupations have shown the most and the least employment growth?
How will Digitalization Affect the Labour Market?
The challenge facing policy-makers – in British Columbia, Canada and globally – is how to maximise the productivity gains of technological progress through digitalization, while taking steps to mitigate its intrinsically-skewed distribution of benefits.
Toward Higher Costs and Less Competition in Public Sector Procurement
The provincial government is establishing a new framework for developing and sourcing labour to build public-sector infrastructure projects. We see at least two big problems with the government's plan.
Where Does the Money Come From? The B.C. Government’s Top Revenue Sources
Where exactly does the province get the vast sums required to pay for the services and programs it provides or supports?
An Update on Government Finances
With the national economy having reached potential, now is not a propitious time for governments to be running fiscal deficits. Yet, collectively, they are doing just that.
Show Me the Money! Earnings by Field of Study and Education Level
As students contemplate their field of study - one consideration might be potential future earnings.
Cruising Along: International Tourism on the Rise in B.C.
Last year was a memorable one for international tourism in the province, and the first quarter of 2018 is looking even better. There were 7.9 million international traveller entries to B.C. in 2017, an increase of 3.5% over 2016. Since 2010, the number of international visitors is up 25%. Tourism is a vital economic engine for the province, with the main tourism-related industries accounting for 12% of all jobs.
Long-Term Downward Trend in Unionization Rates
The unionization rate – sometimes called “union density” – is the share of employees in the workforce who belong to a union. Statistics Canada tracks and reports on “union coverage,” which is a similar concept but also includes workers who are not union members but are covered by a collective agreement.
BC's Net Inflow of Interprovincial Migrants Slows Sharply
Halfway through last year, the net inflow of people moving to BC from other provinces dropped sharply, and the slowing persisted over the rest of 2017. The shift is surprising because it breaks with past migration patterns that usually reflect differing labour market conditions across the country.
The Changing Face of Asset Ownership in China
China’s economic development continues to have profound implications for the world economy and, as Canada’s gateway to Asia, for British Columbia.
The Rise of China's Top-10%
A by-product of China’s rapid economic rise is that income and wealth have become increasingly concentrated among the top-10% of the population.
Automation Trends Around the World: 5 Takeaways from 32 Countries
The results of a new OECD study hold some important takeaways for policy makers, namely that the future of work may depend on where a worker lives, the stage of their career, and the level of skills they have.
The Slowing Pace of 'Creative Destruction' in Canada
Creative destruction involves economic renewal or “churn,” whereby innovative new firms and entrepreneurs force outdated firms to exit. Labour and capital are freed and reallocated to better use, in doing so raising productivity and living standards. Canadian data is concerning because it suggests a significant, long-term decline in the rate of economic renewal.
Bridging Classroom and Career
The world of work is very different today than it was a few decades ago. Traditional clear-cut pathways to well-paying, full-time jobs increasingly are giving way to less linear career trajectories as employers look for a different mix of skills, experience and formal qualifications.
"When you drive out ridesharing, you drive out innovation."
Recently, BCBC’s NEXT Leaders came together to discuss ridesharing and the future of transportation. As a follow-up to the meeting, we surveyed members of the group.
How Do House Prices Affect the Consumer Price Index?
It can seem hard to reconcile the stellar growth in house prices in recent years in Vancouver and some other Canadian urban centres with the modest growth in the CPI.