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By Liam Verster

Labour Statistics

Local labour force made slight gains in September

Oct 11, 2024 | 1:57 PM

There was some positive movement in the local economy last month.

Statistics Canada says the Thompson-Okanagan economic region, which includes Vernon, had an unadjusted unemployment rate of 5.2 per cent in September, alongside an employment rate of 55.4 per cent.

Those marked improvements from August when the unadjusted rates were 5.8 per cent unemployed and 53.6 per cent employed.

However, they were still down on an annual basis, as the region’s unemployment rate in September of 2023 was 3.5 per cent, and the employment rate at that time was 58.1 per cent.

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

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StatsCan said Kelowna’s unemployment rate was 4.7 per cent, and the employment rate was 55.2 per cent in September.

The unemployment rate was unchanged on a monthly basis, but Kelowna did see employment decline from August’s rate of 55.8 per cent.

The provincial labour force, meanwhile, took a hit last month.

StatsCan said B.C. had an adjusted unemployment rate of 6.0 per cent, and an employment rate of 60.0 percent in September.

Those marked changes from August when unemployment was 5.8 per cent and employment was 60.5 per cent.

Despite the fluctuations, B.C. still had the fourth lowest unemployment rate of any province, trailing only Quebec (5.5 per cent), Saskatchewan (5.7), and Manitoba (5.7).

“As high national interest rates and global challenges continue to be felt across Canada, BC continues to be strong with 23,600 new full-time jobs over the past year, and 64,300 new jobs in David Eby’s two years as leader of the B.C. NDP,” Brenda Bailey, NDP candidate for Vancouver-South Granville and once Minister of Jobs, Economic Development and Innovation, stated.

“B.C.’s unemployment rate is 6.0%, significantly below the national average of 6.5% and Alberta’s unemployment of 7.5%. BC also has the highest average wages in the country, surpassing Alberta this month.”

As Bailey mentioned, StatsCan reported the national unemployment rate in September was 6.5 per cent, which was down from the rates of 6.6 per cent record both in August of 2024 and in September of 2023,

Th national employment rate was recorded at 60.7 per cent last month. That was down on a monthly and annual basis, as StatsCan figures for both August of 2024 and September of 2023 were 60.8 per cent.