At present, the economic prosperity of Fraser Lake rests on the forest and mining industries. Approximately 36% of Fraser Lake's population is employed at either West Fraser Sawmill, or in supplying the sawmill with logs. Endako Mine now occupies the position of being the second largest employer with a labour force of over 200, drawn from the Village and surrounding area. 

After the recession of the 1980s, Fraser Lake experienced economic benefit from significant growth in secondary industries. Tourism is increasingly becoming a competitor in the economy. Fraser Lake's relative geographical position, splendid beauty and wealth of wilderness attractions offer the area a natural advantage.

To capitalize on the natural beauty of the are the municipality has initiated projects such as the Fraser Lake Wharf Reconstruction. This project restored lake access for area residents and tourists, creating opportunities for recreational fishing and boating. Restoration of this key public infrastructure created five direct jobs and is asset for attracting tourists.

The $605,350 project was initiated in June 2004. The Village of Fraser Lake received $245,850 towards the costs of reconstructing the historic public wharf through the Softwood Industry Community Economic Adjustment Initiative (SICEAI) administered by Community Futures.