A pair of studies are painting a positive economic picture for Prince George in the next few years.
The Conference Board of Canada and the City believe the economy will see modest growth despite a downturn in the province’s forestry sector.
Manager of Economic Development Melissa Barcellos told MyPGNow.com she was quite pleased with the findings.
“Considering the fact we’ve been facing those challenges and we’re still seeing positive growth in terms of GDP is a good sign.”
“I find this very encouraging considering what we have faced with the forestry sector this year as it’s a large contributor here locally.”
The economy is expected to expand by 1.5% this year, and another 1.7% in 2020.
Barcellos states a specific sector is leading the charge.
“The construction sector has largely contributed to that positive growth, continuing to see the residential development including the multi-family projects and the student housing projects that are going ahead.”
The city also issued a workforce analysis study to help forecast what the workforce is going to look like in the future and which jobs remain the most difficult to fill.
“That report identified the hospitality sector as well as health care and social assistance as having the strongest demand for workers currently and the most difficult time recruiting to fill those vacant positions,” added Barcellos.
The Conference Board study also suggests the northern capital’s unemployment rate should hover around five percent next year.