How We Crunched the Num­bers

BC Business Magazine - - Best Cities For Work In B.c. -

To de­ter­mine the Best Cities for Work in B.C., we ex­am­ined 10 eco­nomic in­di­ca­tors with a va­ri­ety of weight­ings, in­clud­ing seven car­ried over from last year and three new ones. This year the weight­ing was shifted slightly from lag­ging eco­nomic in­di­ca­tors, such as in­come growth, to more for­ward-look­ing, or lead­ing, in­di­ca­tors like hous­ing starts. Each city re­ceived a score out of a to­tal of 100 points and is ranked ac­cord­ingly.

Av­er­age house­hold in­come (max­i­mum score of 10 points)

This fig­ure rep­re­sents the av­er­age for 2018. To de­ter­mine a score out of 10, we gave the top av­er­age in­come 10 points and scored the other cities in pro­por­tion to that.

Av­er­age house­hold in­come un­der 35 (10 points)

This value rep­re­sents the 2018 av­er­age house­hold in­come for pri­mary in­come earn­ers un­der the age of 35. Again, we gave the top av­er­age 10 points and scored the other cities in re­la­tion to that.

Five-year av­er­age house­hold in­come growth (15 points)

This num­ber rep­re­sents the per­cent­age in­come growth from 2013 to 2018. As­sum­ing a floor of zero, the top value re­ceived 15 points, with the other cities scor­ing ac­cord­ingly.

Av­er­age house­hold spend­ing on recre­ation (10 points)

This in­di­ca­tor mea­sures house­hold spend­ing on all leisure tracked by Sta­tis­tics Canada, from con­certs and sport­ing events to recre­ational ve­hi­cles and home en­ter­tain­ment sys­tems. Giv­ing the city with the high­est av­er­age recre­ation spend­ing a 10, we ranked the oth­ers in re­la­tion to it.

Av­er­age shel­ter spend­ing (10 points)

This fig­ure cov­ers re­cur­rent hous­ing-re­lated liv­ing ex­penses, such as mort­gage pay­ments, rent and util­i­ties, for 2018. The city with the low­est av­er­age shel­ter spend­ing re­ceived a score of 10, with the other cities scor­ing in in­verse pro­por­tion.

Av­er­age value of pri­mary real es­tate (5 points)

This value mea­sures the av­er­age price of pri­mary real es­tate (i.e., not in­clud­ing sec­ondary or recre­ational prop­er­ties). We gave the low­est value 10 points and scored the other cities in in­verse pro­por­tion.

Av­er­age com­mute time (10 points)

This in­di­ca­tor pro­vides the av­er­age one-way com­mute time, in min­utes, for all mem­bers of the em­ployed labour force aged 15 and older. The city with the low­est av­er­age du­ra­tion re­ceived a score of 10, with the other cities scor­ing in re­la­tion to that.

Five-year pop­u­la­tion growth (10 points)

This fig­ure rep­re­sents the pro­por­tional pop­u­la­tion growth of each city from 2013 to 2018. We lim­ited the floor to zero and scored cities out of a max­i­mum value of 10.

Hous­ing starts per 10,000 res­i­dents (10 points)

This value is de­rived from the year-to-date hous­ing starts from Canada Mort­gage and Hous­ing Corp.'s monthly Starts and Com­ple­tion Sur­vey to the end of Septem­ber 2018. Hous­ing starts are di­vided by the to­tal city pop­u­la­tion and mul­ti­plied by 10,000 to give the num­ber of hous­ing starts per 10,000 res­i­dents. The city with the high­est num­ber of hous­ing starts per 10,000 res­i­dents re­ceived a score of 10, with the other cities scor­ing in re­la­tion to that.

Un­em­ploy­ment rate (10 points)

This num­ber is the un­em­ploy­ment rate from Stat­scan's Labour Force Sur­vey for Septem­ber 2018. We gave the low­est un­em­ploy­ment rate 10 points and scored the oth­ers in re­la­tion to that.

tion could make it eas­ier for com­pa­nies to lure and re­tain skilled labour, and at­tract in­vest­ment. Con­versely, con­tin­u­ally ris­ing prices may ac­cel­er­ate the eco­nomic and pop­u­la­tion growth seen in cities such as Kelowna and Vic­to­ria in re­cent years. How­ever, as hous­ing in these sec­ond-tier ur­ban cen­tres be­comes less af­ford­able in turn, there could be a ben­e­fi­cial knock-on ef­fect for the prov­ince’s smaller cen­tres.

Re­cent trends in oil and gas sug­gest that the North­east is poised for an eco­nomic re­bound. With fos­sil fuel prices grad­u­ally ris­ing and the LNG Canada con­sor­tium mov­ing ahead with its Kiti­mat ex­port ter­mi­nal for liq­ue­fied nat­u­ral gas, the pro­duc­tion cen­tres of Fort St. John and Daw­son Creek will share in the re­wards—as will com­mu­ni­ties on the North Coast.

Driv­ing these trends is a grow­ing global econ­omy, with the In­ter­na­tional Mon­e­tary Fund call­ing for steady ex­pan­sion in 2019. That could bring more pros­per­ity to B.C. com­mu­ni­ties, as for­eign coun­tries and their res­i­dents be­come in­creas­ingly im­por­tant to the prov­ince’s cen­tres of im­mi­gra­tion, tourism, ed­u­ca­tion and trade. But given in­ter­na­tional trade wor­ries and un­even global eco­nomic ex­pan­sion, it re­mains un­clear how B.C. may ben­e­fit.

Re­gard­less of how your city fared in this year’s rank­ing, keep in mind that many of those in the mid­dle scored very close to one an­other. And in a prov­ince with a healthy eco­nomic out­look, spec­tac­u­lar land­scapes and ready ac­cess to the great out­doors, even the low­est-rank­ing cities have much to of­fer.

Cat­e­gory weights shown in brack­ets. Full method­ol­ogy on page 33

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.