Finance, Insurance, Real Estate and Leasing

Overview

Employment summary

Growth (2014-2015):
-6.3%
Job growth (2014-2015):
-8,600
Total employment (2015):
128,600

Source: 2015 Labour Force Survey

Key points
  • This industry accounts for about one-quarter of B.C.’s total GDP.
  • The majority of employment in this industry occurs in the Mainland / Southwest region.
  • Only a small percentage of employees have union coverage.
  • The unemployment rate is about half the provincial average.

The Finance, Insurance, Real Estate and Leasing industry is made up of businesses that handle or arrange financial transactions on behalf of clients. Such businesses include banks and credit unions; insurance, real estate and leasing companies; and brokerages.

Workforce

Gender

Employment by gender in 2015

  Men: 45%
  Women: 55%

Source: 2015 Labour Force Survey

Provincial average in 2015

  Men: 52%
  Women: 48%

Source: 2015 Labour Force Survey

Age groups

% of employees under 25 years of age

  • 2010
  • 2015
  • B.C. average (2015)

Source: 2015 Labour Force Survey

% of employees 55 years and older

  • 2010
  • 2015
  • B.C. average (2015)

Source: 2015 Labour Force Survey

Employment

Types of employment

2010 2015 B.C. average (2015)
Part time
(% of employees working part time)
2010
19%
2015
17%
B.C. average (2015)
21%
Self-employed
(% of employees who are self-employed)
2010
25%
2015
23%
B.C. average (2015)
18%
Temporary jobs
(% of employees in temporary jobs)
2010
5%
2015
4%
B.C. average (2015)
14%

Source: 2015 Labour Force Survey

Workplace

% of workers in firms less than 20 employees

  • 2010
  • 2015
  • B.C. average (2015)

Source: 2015 Labour Force Survey

% of workers in private sector jobs

  • 2010
  • 2015
  • B.C. average (2015)

Source: 2015 Labour Force Survey

Unemployment rate

  • 2010
  • 2015
  • B.C. average (2015)

Source: 2015 Labour Force Survey

Earnings

Average hourly wages in this industry

Men

  • 2010
  • 2015
  • B.C. average (2015)

Source: 2015 Labour Force Survey

Women

  • 2010
  • 2015
  • B.C. average (2015)

Source: 2015 Labour Force Survey

Youth

  • 2010
  • 2015
  • B.C. average (2015)

Source: 2015 Labour Force Survey

Location of work

Select your region:
Vancouver Island / Coast Mainland / Southwest Thompson-Okanagan Kootenay Cariboo Northeast North Coast & Nechako
  % employment of this industry
  % employment of all industries

Vancouver Island / Coast

Mainland / Southwest

Thompson-Okanagan

Kootenay

Cariboo

North Coast & Nechako

Northeast

N/A - Data not available

Source: 2015 Labour Force Survey

Employment outlook

2016 2020 2025
Forecasted employment
2016
129,900
2020
136,500
2025
145,000

Source: B.C. Labour Market Outlook

Forecasted average annual employment growth rate

  • 2016 - 2020
  • 2020 - 2025

Source: B.C. Labour Market Outlook

Forecasted industry share of total employment

  • 2016
  • 2020
  • 2025

Source: B.C. Labour Market Outlook

Additional resources

British Columbia Real Estate Association (BCREA)
http://www.bcrea.bc.ca/

Chartered Financial Analyst Society of Vancouver
http://www.ibabc.org/

Financial Institutions Commission (FICOM)
http://www.fic.gov.bc.ca/

Insurance Brokers Association of BC (IBABC)
http://www.ibabc.org/