Employment outlook for Vernon
Vernon is forecast to have the lowest unemployment rate and the tightest labour market supply in the urban areas of the Okanagan - averaging 2.7.% of the labour force in 2009. Our planners tell us that 1200 net new jobs per year on average will be realized through 2009. BUT those employment gains are forecast to outpace the growth in our labour force. The anticipated result is that economic growth will fall short of its potential which will lead to INCREASED SALARIES AND WAGES.
How will Vernon attract the workforce we will need. This is where Vernon Real Estate fits into the equation... The provision of housing is critical. In order to attract new economic investment to our community, we need to have two things... land for the business and housing for the workforce.