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Vancouver, Canada: Industry and Employment Trends
2009-12-01
by Goinglobal
The global financial crisis has taken its toll on the economy of British Columbia with growing concerns over job security and declining net worth. The province lost 60,000 jobs since January 2009 and in March 2009, British Columbia lost more jobs in one month than any other province in the country (most were construction jobs). The economic situation in 2010 is expected to improve. Real GDP growth in the province is forecast to rise 1.5 percent.
Vancouver is one of the largest industrial centers in North America thanks to its location at the western terminus of Canada’s transcontinental highway and rail routes. There is approximately 1,800 acres of industrial land located in the city. International commerce and trade is a key sector for the Vancouver’s economy. The Port of Vancouver does more than 43 billion CAD in trade with more than 90 countries, generating 4 billion in GDP. Forest products and mining companies are also headquartered in Vancouver, as well as an increased number of software development, biotechnology and film companies. Tourism is another major revenue generator with the city’s numerous parks, gardens, mountains, forests, parklands and ocean surrounding the city.
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