Local unemployment rate rises, strong year for job growth in B.C.

Jan 5, 2024 | 11:30 AM

The economic region that includes Vernon and the Okanagan saw the unemployment rate increase and employment rate decline in December.

Statistics Canada reported the unadjusted unemployment rate for the Thompson-Okanagan at 3.4 per cent last month, while the employment rate was 54.4. per cent.

The jobless rate was up from November’s rate of 3.1 per cent, but was still below the rate of 4.1 per cent recorded in December of 2022.

The data collection agency reported the local employment rate was down from November’s 55.3 per cent, and well below the 59.7 per cent rate from December of 2022.

The labour force was estimated at 299,200 people in the Thompson-Okanagan region this past December, marking declines from November’s 302,400 figure and from the 323,000 people in the work force in December 2022.

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Stats Can did not provide data for Vernon, but did have figures for Kelowna. The adjusted unemployment rate was recorded at 5.1 per cent, employment was 54.5 per cent, and the labour force consisted of an estimated 112,000 people.

Comparatively, Kelowna had a 3.9 per cent jobless rate, a 55.9 employment rate, and 113,200 people working in November, while December of 2022’s figures were 4.2 per cent unemployed, 57.1 per cent employed, and 113,100 people working.

Provincially, B.C.’s adjusted unemployment rate was 5.6 per cent in December, while the employment rate was 62.0 per cent. The labour force was recorded at 3,004,600 during the month in question

B.C.’s adjusted employment and unemployment rates improved from November’s figures, when unemployment was 5.3 per cent and employment was 61.7 per cent. On an annual basis, unemployment rose from a rate of 4.1 in December of 2022, while the employment rate declined from 62.1 per cent. The provincial labour force was up slightly from November’s figure of 2,975,600 workers, and was also up from the previous December’s figure of 2,881,800.

“B.C. led the country in job growth in December, wrapping up a strong year for job creation in our province,” Brenda Bailey, Minister of Jobs, Economic Development and Innovation, said.

“In 2023, B.C. added 74,000 new jobs, some of the highest job growth in the country, with all of B.C.’s employment gains last year being in full-time jobs.”

Bailey added B.C.’s unemployment rate was “one of the lowest among provinces and below the national average.”

Manitoba had the lowest unemployment rate at 4.2 per cent in December, followed by Quebec’s rate of 4.7 per cent, and Saskatchewan’s 5.0 per cent unemployment rate.

Nationally, the unemployment rate was 5.8 per cent in December, while the employment rate was 61.6 per cent.

The national unemployment rate was unchanged from November, but was up from the 5.0 per cent in December, 2022.

The Canadian Press says the economy added just 100 jobs last month.

Canada’s employment rate was down slightly from November’s figure of 61.8 per cent, and was also down from December 2022’s 62.1 per cent.

The labour force did increase from 21,553,000 in November to 21,557,800 in December. That figure also marked an increase from the same month the previous year when the labour force was 20,925,800.

by Liam Verster

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