Road to Recovery: Economist predicts Vancouver Island’s economy will ‘bounce back’ in 2022 after Omicron restrictions lift

Road to Recovery: Economist predicts Vancouver Island's economy will 'bounce back' in 2022 after Omicron restrictions lift

In this week’s episode of Road to Recovery with Douglas Magazine, CHEK’s Jasmine Bala sits down with Bryan Yu, Chief Economist for Central 1.

Central 1 is the member organization all of the credit unions in British Columbia belong to. The organization provides economic analysis, commentary, interest rate forecasts and weekly economic briefings. The team carefully scans the global economic landscape and analyzes how global tensions, trade issues, and oil and gas prices impact the province.

“Our economists provide insight into current economic events and developments from international and domestic sources with implications for Canada’s economy as well as provincial and local ones,” its website reads.

Yu oversees Central 1’s economic analysis team and is author and editor of many of its flagship research reports and weekly notes. He frequently speaks at credit union and industry events and often provides commentary on the national and provincial economy.

Yu explains in this segment what the economic forecast is looking like in 2022, what we saw last year, and what we’re seeing right now in the economy.

“We’re going to bounce back relatively quickly,” Yu said. “Seen in the past cycles, or the past variants, the economy tends to regain a lot of those jobs once the restrictions are over.”

Road to Recovery is done in partnership with Douglas Magazine.

READ MORE: Road to Recovery: Startups struggle to survive without government financial support nearly two years into pandemic

Jasmine BalaJasmine Bala

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