Immigration has played a key role in BC’s recent population increase, compensating for the increase in those leaving the province.
At 5,017,000 individuals, BC’s population is at a record high, reaching 5 million for the first time, in the third quarter of 2018. The province has seen a decrease in the influx of people from Ontario and Alberta and an increase in outmigration, likely due to affordability issues and the more robust economies of other provinces.
That said, since late 2016 international immigration has boosted BC’s economy, with Canada overall seeing an increase in both permanent and temporary residents. Payroll data also shows an increase in BC’s jobs and wages, with a 2.7 per cent increase in earnings from the previous year.
This trend is likely to continue into 2019, painting a hopeful picture of BC’s economy in the coming months.