More people working in Greater Victoria: report

Record low unemployment in Canada was reflected in Greater Victoria as the regional rate dropped to 4.1% in March. That’s down from 4.2% a month earlier.

“We’ve had one of the lowest unemployment rates for years, which is a mixed blessing for our regional economy,” Chamber CEO Bruce Williams told the Times Colonist. “We are ­fundamentally sound and many sectors have rebounded from the ­pandemic, but the challenge facing all employers, including our members, is finding and keeping the right staff.”

Statistics Canada figures show 229,800 people in Greater Victoria were available to work in March, up 4.3% from March 2021.

“That’s welcome news as people need jobs and employers need people to achieve their economic potential. But people also need homes and our region’s population is growing faster than we’re able to add new homes,” Williams said. “The Labour Market numbers really highlight how urgently we need a concerted effort by all levels of government to increase housing supply.”

Interest rate jumps as BoC looks to nip inflation

The Bank of Canada continued its efforts to fight rising inflation, raising interest rates by half a percent on Wednesday. The bank also stated it will begin quantitative tightening starting on April 25, which will effectively make fixed rate mortgages more expensive.

The interest rate increase was expected as the bank attempts to counter an inflation rate of 5.7%. More increases are likely in the months ahead.

“Russia’s ongoing invasion of Ukraine is causing unimaginable human suffering and new economic uncertainty,” stated a Bank of Canada media release. “Price spikes in oil, natural gas and other commodities are adding to inflation around the world. Supply disruptions resulting from the war are also exacerbating ongoing supply constraints and weighing on activity. These factors are the primary drivers of a substantial upward revision to the Bank’s outlook for inflation in Canada.”

Provincial funding helps stabilize health clinics

The province announced it will provide funding to keep five walk-in medical clinics from closing on southern Vancouver Island. The measures will help keep doctors and add nurses to serve Greater Victoria.

BC Health Minister Adrian Dix told CHEK News the five clinics requested funding through the South Island Primary Care Network (PCN) Walk-in Clinic Task Force.

“These five were the ones that participated in this particular task force, and we were able to find this solution in the short run as we work together for longer term solutions,” Dix said.

“Access to health care is a fundamental requirement for a community to achieve its economic potential,” Chamber CEO Bruce Williams said. “We need to retain doctors and other health care professionals so that our region continues to be an attractive destination for businesses and new residents.”

Chamber celebrates successful year at AGM

The Chamber held its 2022 AGM on Tuesday, with about 130 people gathering for our largest in-person event in two years.

Attendees celebrated the success of The Chamber and heard from the Hon. Rob Fleming, Minister of Transportation and Infrastructure, about the province’s plans for helping the region recover from the pandemic.

Fleming spoke about plans to rebuild and improve roads and other infrastructure damaged by climate events in 2021. The minister also spoke about creating rapid bus corridors in the region, and making the business case for modernizing Belleville Terminal. “The time is now to make that investment,” Fleming told the audience.

Other topics that The Chamber has advocated for included investing in a deep water port on Vancouver Island to help BC’s supply chain, creating a transit hub at Uptown and investing in shore power at Ogden Point.

Cruise ship season now scheduled to start Saturday

The cruise ship season is expected to begin Saturday with the arrival of Holland America’s Koningsdam.

The season was initially set to kick off today, but, as we’ve come to expect over the last two years, the arrival of the Caribbean Princess has been delayed out of an abundance of precaution.

“We’re learning to live with COVID-19, and that means we can expect occasional hiccups,” Chamber CEO Bruce Williams said. “We are in good place, with the vast majority of people protected through immunization against serious illness. However, The Chamber supports the work of the Greater Victoria Harbour Authority to put safety first as it welcomes a new cruise ship season.”

Last fall, The Chamber was part of a multi-organization effort to work with government to ensure cruise ships would be back in 2022. At the time, the GVHA estimated 759,000 passengers will visit our region aboard 350 ships from now until November.

For an up-to-date schedule of cruise ship arrivals at Ogden Point, go to gvha.ca.

“The start of cruise ship season is another sign that Greater Victoria is reconnecting with the world,” Williams said. “International visitors provide a significant boost to our region’s economic ecosystem, which truly flourishes when all sectors are able to achieve their potential. It’s exhilarating to once again show off our spectacular corner of the world to travellers. On behalf of all Chamber members, I’m thrilled to welcome the first passengers back to Greater Victoria.”

BC Transit receives relief as ridership improves

Transportation services such as commuter buses were hit hard by pandemic restrictions.

BC Transit is reporting ridership levels have recovered to about 70% of pre-pandemic levels. To ensure the service can carry on until it’s fully recovered, the federal and provincial governments announced $28 million in relief. The governments are also providing $176 million to Translink on the Lower Mainland.

PHO confirms vax pass restrictions expire Friday

Starting Friday, businesses and event organizers will no longer be required by the province to check vaccination status. As well, businesses will only need a communicable disease plan to reduce the spread of all infectious diseases rather than a specific COVID-19 safety plan.

“We expect a few businesses will continue to require proof of immunization, much as many continue to ask that masks are worn in common areas,” Chamber CEO Bruce Williams said. “We welcome the end of formal regulations and support businesses that know their customers and their staff, and who make decisions that work for their organization.”

Ban on foreign buyers reportedly in federal budget

The federal budget will be unveiled tomorrow at 1 pm and is expected to include plans for long-term economic growth. However, high inflation and uncertainty over the war in the Ukraine could see the government focus on new spending priorities, states an analysis by RBC Dominion Securities.

Housing affordability will be the cornerstone of the budget, according to media reports that suggest new rules will prohibit foreign buyers of real estate for the next two years. CTV also says the budget will include:

  •  $4 billion for municipalities to update zoning and permit systems to speed up housing construction
  •  $1 billion affordable housing construction
  •  and $1.5 billion in loans and funding for co-op housing.

The budget is also expected to include a surtax on banks and insurance companies, and billions of dollars in new spending for the military.

The RBC analysis notes that Canada’s economic recovery has been stronger than expected, allowing the feds to announce new spending and lower deficit projections. The analysis also points out that private capital will be required to grow the economy over the long term and to begin addressing chronic labour shortages facing all sectors.

SD61 budget cuts could impact student employment

The Chamber has lent its support to the long-standing career centre program at the Greater Victoria School District. The SD61 school board is expected to announce funding cuts as part of finalizing its budget tomorrow.

“We understand that this year’s budget process requires difficult decisions, and we do appreciate that every trustee is doing their best to make the right decision. That said, we urge the school board to continue adequately funding career centre staff positions,” Chamber CEO Bruce Williams stated in a letter to trustees. “Education is about helping students grow and learn to be successful adults who contribute to making our world a better place. Students receive positive direction to fulfill their academic potential, and they deserve to also have positive direction to prepare them for working life.”

Career centre staff are able to help students learn to build connections and professional relationships. Without that assistance, there might be fewer students available to take on traditional student positions. With Greater Victoria experiencing a workforce crisis, hiring students helps employers and gives young people a chance to earn money to pursue their own dreams.

VicPD protects us regardless of where we call home

A convoy of honking trucks and anti-government protestors that planned to entrench themselves in James Bay fizzled out before it could gain a foothold.

“Safe, peaceful and lawful protest are protected under the Charter of Rights and Freedoms. Occupation is not,” states a VicPD media release. “Dangerous and/or unlawful activity will continue to be met with de-escalation and enforcement.

By being proactive, the Victoria Police Department were able to avoid a prolonged disruption to businesses and residents. VicPD consulted with Ottawa police about lessons learned by that city when it permitted a protest that then turned into an encampment.

VicPD Police Chief Del Manak shared his insights as a guest speaker at The Chamber’s Public Policy and Advocacy committee meeting this week. Chief Manak was also asked about efforts to create a regional police department that could draw resources from more than one municipality. VicPD works with their neighbouring police forces as much as possible, but there’s no question the department faces critical constraints. The job of police is to protect people in their community, regardless of where they’re from. In Greater Victoria, that means VicPD protect everyone who visits downtown for work in the day or for all of its entertainment options in the evening.

The Chamber has long called for a regional police force, and we will be looking for indications government is listening when the provincial Special Committee on Reforming the Police Act is released April 28.