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By Liam Verster

Labour Statistics

Okanagan’s unemployment rate rose in August

Sep 10, 2024 | 6:00 AM

The economic region that includes Vernon saw some fluctuations to its labour force in August.

Statistics Canada reported the unadjusted unemployment rate for the Thompson-Okanagan economic region was 5.8 per cent last month.

That figure was up from the rate of 5.6 per cent in July, marking the second month of the unemployment rate rising. The rate was also up from the 4.3 per cent unemployment recorded in August of 2023.

Meanwhile, StatsCan reported the unadjusted employment rate for the economic region that includes the Okanagan was 56.3 per cent in August. That was up from July’s figure of 56.1 per cent, but still below last August’s employment rate of 59.2 per cent.

The data collection agency did not have figures specific to Vernon, but did have rates for the City of Kelowna.

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StatsCan said the adjusted unemployment rate in Kelowna was 4.7 per cent in August, while the employment rate was 55.8 per cent.

Those marked figures marked changes from July’s rates of 4.4 per cent unemployment and 56.1 per cent employment.

British Columbia as a whole saw its adjusted unemployment rate recorded at 5.8 per cent in August, marking an increase from the 5.5 per cent rate the month prior. Meanwhile, the provincial employment rate fell from 60.8 per cent in July to 60.5 per cent in August.

B.C. was tied with Manitoba for the third lowest unemployment rate among provinces in July. Saskatchewan had the lowest rate at 5.4 per cent last month, followed by Quebec where the rate was 5.7 per cent.

B.C. did however have the sixth highest provincial employment rate after Alberta (64.1 per cent) Saskatchewan (63.6), Manitoba (62.9), Prince Edward Island (61.0), and Quebec (60.6).

Canada as a whole meanwhile saw its unemployment rate recorded at 6.6. per cent, while the employment rate was 60.8 per cent in August.

The national unemployment rate did rise from July’s rate of 6.4 per cent, while employment declined from the previous month’s figure of 60.9 per cent.