Local unemployment rate rose in February

Mar 11, 2024 | 1:34 PM

The local labour force saw unemployment rise in the latest reporting month.

Data from Statistics Canada showed the unadjusted unemployment rate for the Thompson-Okanagan economic region, which includes Vernon, rose to 6.0 per cent in February.

That marked an increase from the 4.8 per cent unemployment rate in January, 2024, and up from the 4.2 per cent rate recorded the previous February.

Meanwhile, unadjusted employment fell in the Thompson-Okanagan.

StatsCan data showed the local employment rate was recorded at 53.6 per cent last February.

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That was down from January’s rate of 54 per cent, and was also down from February of 2023’s 58.1 per cent.

StatsCan did not provide data specifically for Vernon, but did have information on Kelowna’s labour force.

In February, Kelowna’s adjusted unemployment rate was recorded at 5.5 per cent, while the employment rate was 56.6 per cent. Those marked improvements from January’s figures, which calculated the unemployment rate at 5.6 per cent and employment at 55.4 per cent.

The province also saw some slight improvements on a monthly basis.

StatsCan reported the unemployment rate in British Columbia was 5.2 per cent in February, down from 5.4 per cent the month prior.

The employment rate was 61.7 per cent in February, which was unchanged on a monthly basis.

Brenda Bailey, B.C.’s Minister of Jobs, Economic Development and Innovation, responded to the labour force update by noting that women’s employment increased by 3,800 in February, and that was part of an ongoing trend within the province.

“From 2017 to 2023, women’s employment across all sectors increased by more than 120,000. Since July 2017, the number of women in full-time employment in B.C. has increased by 13.4 per cent, demonstrating the importance of government’s action to provide more affordable child care, Bailey stated.

“When we look at [February’s] Labour Force Survey data, increases in information, culture and recreation, and construction are encouraging, as our film sector gains back momentum and building housing continues to be a top priority. B.C.’s average hourly wage is $36.46, the highest among provinces.”

She noted the province’s unemployment figure was “one of the lowest among provinces,” with StatsCan data showing only Manitoba (4.5 per cent unemployment rate), Quebec (4.7) and Saskatchewan (5.0) having lower rates.

Bailey also noted the provincial unemployment rate was below the national average, which was 5.8 per cent in this past February.

The national adjusted unemployment rate was up from January’s figure of 5.7 per cent, and was also up from the rate of 5.1 per cent recorded in February of 2023.

The national adjusted employment rate was 61.5 per cent, which was down from January’s rate of 61.6 per cent, and nearly a full point below the rate of 62.4 per cent recorded the previous February.

by Liam Verster

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