British Columbia Province Profile

British Columbia amends its budget-balance law to allow the province to carry a deficit; resource-based economy hit hard by weak fuel prices and wood product exports; house prices are expected to increase, but new tax could dampen home sales.

• Province job growth fell 2.0% in September 2009 from a year ago; national job growth fell 2.1%.
• Province unemployment averaged 7.4% in September 2009; the national average was 8.4%.
• Average weekly earnings rose 1.9% at $799 in July 2009 from a year ago.
• Provincial revenue fell 1.5% in FY 2009 from the previous year.
• Exports fell 23.2% to $14.6 billion in the first seven months of 2009 from a year ago.
• Venture capital investment in BC fell 67% to $19 million in Q2 2009 from the previous year, representing 10% of the national total.