In a healthy community, the local economy builds strong businesses and organizations that create quality employment opportunities by training and supporting workers, and attracting and developing new jobs and businesses. How are we doing with respect to the Economy? You told us: B-

Employment In June 2009, 63.3% of the residents of Greater Victoria 15 and older were employed, compared to 61.3% in BC and 62.1% in Canada. This is somewhat less than in June 2008, when 68.2% of Greater Victorians 15 and older were employed. Grade: B-
Source

Business failures In 2008, there were 43 incorporated business bankruptcies in Greater Victoria compared to 35 in 2007, a 22.9% increase. This is significantly higher than the provincial bankruptcies decrease of 3.4% in 2008. Grade: C
Source

Employment insurance The number of people claiming regular employment insurance (not including those receiving maternity or sick benefits) in Greater Victoria in April 2009 was 3,940 compared to 1,410 in April 2008, an increase of 179.4%%. This compares to a provincial increase of 122.7% and a national increase of 55.8%. Grade: D+
Source

Building permits In 2008, the value of non-residential building permits in Greater Victoria was $282 million compared to $246 million in 2007, a 14.3% increase. This is significantly higher than a national increase of 2.5% and a provincial increase of 6.5%. Grade: B
Source

Employment growth Greater Victoria had employment growth of 4.4% in 2008, considerably higher than the 2.1% provincial growth rate and 1.5% national. Employment growth in Greater Victoria in 2007 was the same at 4.4%. Grade: B-
Source

Employment by Industry in Greater Victoria, 2008
(in thousands)
Source: Statistics Canada

Photo: Artist - Tad Suzuki