Photo by Whitehorse Star
Gary Brown
Wholesale sales drop sharply
A summary of wholesale sales activity in the Yukon is painting a picture of the significance of a new mine.
A summary of wholesale sales activity in the Yukon is painting a picture of the significance of a new mine.
Figures released by Statistics Canada Monday show a huge drop – 61 per cent – in wholesale sales from $41.6 million in September 2018 to $16 million this past September.
Gary Brown of the Yukon Bureau of Statistics explained Tuesday Statistics Canada was not specific about what caused the decline this year but suggested last year’s brisk wholesale activity was related to mining.
Victoria Gold was in the heat of buying equipment and constructing its Eagle Gold Mine north of Mayo last year.
Brown pointed out figures show that in the months of August, September and October 2018, wholesale sales in the Yukon hit a total of $88 million.
The average for the same three months in the previous five years was $35 million, he pointed out.
The report released Monday shows that from January through September this year, wholesale sales in the Yukon totalled $124.7 million, representing a decrease of $31.9 million or 20.4 per cent compared to the first nine months of 2018.
Nationally, wholesale activity increased 2.7 per cent in the first nine months of this year compared to 2018.
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Comments (7)
Up 8 Down 1
Atom on Nov 29, 2019 at 7:54 pm
If the mines slow we will see a change alright.
@jaynew....someone is walking their dog off leash in the greenbelt...red alert!
Up 8 Down 4
Jayne W on Nov 29, 2019 at 2:46 pm
@Not surprised.... I am still trying to figure out who is local here and who is not. Is there a test one has to take to prove they live here, pay rent (or mortgage), taxes, contribute to society etc? SMH. I am embarrassed for you with a comment like that.
Up 12 Down 4
Anie on Nov 29, 2019 at 2:26 pm
To not surprised: so the local people who work for stores that are not owned by locals don't matter? There's an unfortunate image here that owners of Yukon stores are struggling. In fact, many are doing very well. My compassion would be for employees, regardless of store ownership, because many make minimum wage and are only offered part time hours to keep benefits low
Up 10 Down 11
Not surprised on Nov 29, 2019 at 10:57 am
I only shop in local stores that employ local people. Everything else I buy online.
Up 17 Down 13
Juniper Jackson on Nov 28, 2019 at 1:08 pm
It could be..like me.. just hanging on to what little money I have. Trudeau promised a income tax increase. The last increase cost middle class an extra $2,400. a year. Since I don't know what's coming.. it will be a pretty skinny Christmas. I do know what's here, filling my car was $12.00 a week.. now it's $22. My grocery bill is the same, but I don't by steak, roast..just hamburger and chicken thighs.. or anything fresh..for the same money. If too many people cut back, stores start closing, more people on welfare, families break up.. the societal fall out is devastating. CRA does not care. They come after you anyway if you owe tax money.
Up 26 Down 4
Groucho d'North on Nov 28, 2019 at 10:24 am
I'd be interested to learn the impact of on-line sales in the Yukon and how it affects the bricks and mortar businesses here. It appears that the Post Office is doing a brisk business shipping all those smiling boxes from Amazon.
Up 47 Down 6
Jason on Nov 27, 2019 at 3:48 pm
In a small economy where one project can effectively tip the scales to bust or boom, we should absorb this data with a grain of salt. Our economy isn't big or diverse to reflect how these swings impact people in real terms.