Stock image (ID 13442775 © Katarzyna Zwolska | Dreamstime.com)

By Liam Verster

Labour Statistics

Regional unemployment declined, but so did employment

Mar 10, 2023 | 11:00 AM

The local labour force saw some slight improvements last month.

Statistics Canada reported the unadjusted unemployment rate for the Thompson-Okanagan in February was 4.2 per cent last month.

The economic region that includes Vernon also had an unadjusted employment rate of 58.1 per cent.

The unemployment rate improved from the 4.3 per cent in January, but the employment rate declined from the previous month’s 58.6 per cent.

Stats Can did report improvements for both figures on an annual basis as last February had an unemployment rate of 6.0 per cent and an employment rate of 56.4 per cent.

Addiction Services

More substance-use treatment beds coming to Kelowna, B.C.

13h ago

Sunday Morning Shooting

Police investigating shooting in Kelowna

14h ago

Identifying Accessibility Barriers

RDNO asks people to participate in Accessibility Survey

16h ago

The data collection agency did not provide specific figures for Vernon, but did have rates for Kelowna.

The metropolitan area had an adjusted unemployment rate of 3.5 per cent and an employment rate of 59.3 per cent.

Those are improvements from the 4.0 unemployed and 57.8 employed in January. The rates were also significantly improved from the 6.7 per cent unemployment and 56.2 per cent employment figures in January of 2022.

British Columbia, as a whole, saw some negative changes.

The provincial adjusted unemployment rate was recorded at 5.1 per cent, while the employment rate was 62.2 per cent.

The unemployment figure increased from the previous month’s 4.4. per cent, while the employment rate remained flat.

Additionally, the provincial employment rate was down slightly from the 62.3 per cent recorded in January of 2022, though unemployment was better than the 5.6 per cent recorded that month.

“At a time of economic uncertainty, B.C. continues to demonstrate resiliency. B.C. added 6,700 new jobs in February, and the unemployment rate is at 5.1 per cent, remaining one of the lowest in the country. B.C. built on the 66,200 new jobs added in 2022 – two months into 2023 and B.C. has already added 14,400 new jobs,” Brenda Bailey, Minister of Jobs, Economic Development and Innovation, stated.

“We know the global economic headwinds ahead of us – ongoing effects of the pandemic, rising inflation, as well as economic slowdowns – have placed pressure on B.C.’s economy and are presenting real challenges for families and businesses. That’s why Budget 2023 invests in things that matter most to people, like strengthening public health care, tackling the housing crisis, helping people with rising costs, making our communities safer, and growing a clean and inclusive economy that works for everyone.”

Bailey also noted all the job growth in February was attributed to women entering or returning to the workforce.

“We know there is more work ahead to create an economy that works for everyone, and that’s why we just introduced pay transparency legislation, an important next step to close the gender pay gap that disproportionately impacts Indigenous women, women of colour, and immigrant women, as well as women with disabilities and non-binary people,” Bailey said.

Nationally, the unemployment rate remained unchanged on a month-over-month basis at 5.0 per cent in February. Stats Can stated that remains just shy of the record low rate of 4.9 per cent in June and July of 2022.

Canada’s employment saw a monthly gain of 0.1 per cent to 62.6 per cent in February. That increase was attributed to the net gain of over 22,000 jobs, mainly in health care and social assistance, public administration and utilities, though StatsCan did report there was a decline in people working in business, building and support services.

Additionally, average hourly wages in Canada rose 5.4 per cent, or $1.69, on an annual basis to reach $33.16 in February.