Finance, Insurance and Real Estate
Industry Overview
The Finance, Insurance and Real Estate 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.
Key Facts
- 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 lower than the provincial average.
Hourly Earnings
Earnings is income that workers receive in exchange for their labour. Below are the average hourly earnings for this industry.
B.C. Average Hourly Earnings (2023)
| Men | $38.00/hr |
| Women | $32.00/hr |
| Youth | $21.00/hr |
Industry Average Hourly Earnings (2023)
| Men | $44.34/hr |
| Women | $37.66/hr |
| Youth | $27.50/hr |
Workforce
The workforce includes people who are employed or unemployed but actively looking for work. The workforce is made up of people who are 15 years of age and older and living in Canada.
Employment by Sex (2023)
BC Average (2023)
Employment by Age Group
| Age Group | Industry Average (2023) | B.C. Average (2023) |
|---|---|---|
| 15 - 24 years | 6.7% | 13.3% |
| 25 - 54 years | 69.5% | 64.8% |
| 55+ years | 23.8% | 21.9% |
Labour Market Statistics
Discover data, facts and information that have been gathered and analyzed. Learn about the characteristics of the economy and labour market in B.C.
Employment
Find out about employment types and trends by region and industry.
Latest Employment Trends
Mar 2025 vs. Feb 2025
Employment
% Change
Employment by Region
| Region | % Employment this Industry (2023) | % Employment All Industries (2023) |
|---|---|---|
| Cariboo | 1.6% | 3.0% |
| Kootenay | 1.9% | 2.9% |
| Mainland/Southwest | 73.6% | 64.5% |
| North Coast and Nechako | 0.8% | 1.6% |
| Northeast | 0.6% | 1.3% |
| Thompson-Okanagan | 8.5% | 10.9% |
| Vancouver Island/Coast | 13.1% | 15.8% |
Labour Market Outlook
The B.C. Labour Market Outlook is a 10-year forecast of the expected supply and demand for labour in the province. It’s usually updated every year. The purpose is to provide British Columbians with the knowledge to make informed decisions on careers, skills training, education and hiring.
Forecasted Average Annual Employment Growth Rate
Forecasted 10-Year Industry Share of Total Employment
Top Occupations by Job Openings
Top occupations are those with stronger demand and offer higher pay compared to other occupations.
Resources
-
BC Financial Services Authorityhttps://www.bcfsa.ca/
-
British Columbia Real Estate Association (BCREA)https://www.bcrea.bc.ca
-
CFA Society Vancouverhttps://www.cfasociety.org/vancouver/Pages/default.aspx
-
Insurance Brokers Association of BC (IBABC)https://www.ibabc.org
Recent Jobs
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