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By Liam Verster

Labour Statistics

Gains made in local labour force last month

Nov 8, 2024 | 1:04 PM

The Thompson-Okanagan economic region saw some positive moves to it’s labour force in October.

Statistics Canada data showed the economic region that includes Vernon had an unadjusted unemployment rate of 4.6 per cent in October, alongside an employment rate of 55.2 per cent.

The unemployment rate was improved from September’s figure of 5.2 per cent, though was still down compared to OCtober of 2023 when the rate was 3.2 per cent.

The regional employment rate did decline slightly from September’s rate of 55.4 per cent, and was also down from the previous October’s rate of 56.2 per cent.

StatsCan did not provide data specific for Vernon, but did have figures showing improvements to Kelowna’s workforce.

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The data collection agency said Kelowna had an adjusted unemployment rate of 4.5 per cent, and an employment rate of 56.1 per cent.

Those were both improved from September’s figures which showed Kelowna having an unemployment rate of 4.67 per cent and an employment rate of 55.2 per cent.

Meanwhile, the province as a whole saw minor improvements to it’s labour force in October.

StatsCan said British Columbia’s adjusted unemployment rate fell from 6.0 per cent in September to 5.8 per cent in October.

The provincial employment rate was unchanged on a monthly basis at 60.0 per cent.

StatsCan data showed B.C. had the second lowest unemployment rate of any province in October, with only Quebec having a lower rate at 5.7 per cent.

British Columbia did, however, have the seventh highest employment rate in the latest reporting month, trailing Saskatchewan (63.3 per cent), Alberta (63.7), Manitoba (62.9), Prince Edward Island (60.4), Quebec (60.7), and Ontario (60.2). With the exception of Alberta, where the rate rose by 0.1 per cent, those provinces all saw monthly declines to their employment rates.

Though the local and provincial figures fared well, the nation rates did take a slight hit in October.

StatsCan data showed Canada’s unemployment rate was unchanged between September and October at 6.5 per cent, while the employment rate did dip slightly, falling from 60.7 per cent in September to 60.6 in October.