Local, provincial labour forces took a hit in July

Aug 9, 2024 | 1:39 PM

Data from Statistics Canada showed the Okanagan and the province had declines in the work force last month.

The data collection agency said the Thompson-Okanagan economic region, which includes Vernon, had an unadjusted unemployment rate of 5.6 per cent in July.

That figure was up almost a full percentage point from the rate of 4.8 per cent in June, and also up more than a half-point from the 5.0 per cent rate in July of 2023.

The Thompson-Okanagan’s unadjusted employment rate was recorded at 56.1 per cent in the latest update.

That marked a decline from June’s rate of 56.5 per cent, but was also down by more than a full point from the previous July’s figure of 60.3 per cent.

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StatsCan did not have figures specific for Vernon, but did have adjusted rates for Kelowna.

The unemployment in the Central Okanagan city was recorded at 4.4 per cent in July, while the employment rate was 56.1 per cent.

Those figures also reflected negative monthly changes, as unemployment was recorded at 3.9 per cent while employment was 57.4 per cent in June.

British Columbia as a whole also saw figures move in the wrong direction in July.

StatsCan reported the provincial adjusted unemployment rate at 5.5 per cent in July, up from 5.2 per cent in June. B.C.’s employment rate also fell to 60.8 per cent in July from the previous month’s rate of 61.2 per cent.

“Across Canada, people are facing big challenges due to high interest rates and slower global economic growth. Despite job declines across the country, B.C. continues to hold steady with 63,900 jobs gained during the past year, including the second-largest increase in private-sector employment,” Brenda Baily, B.C.’s Minister of Jobs, Economic Development and Innovation, stated in response to the labour force report.

“B.C.’s unemployment rate is 5.5 per cent, the second-lowest unemployment rate among provinces and significantly below the national average of 6.4 per cent.”

The province with the lowest unemployment rate in July was Saskatchewan at 5.4 per cent. StatsCan also noted that Quebec and Manitoba were tied with the third lowest unemployment rates at 5.7 per cent each.

Nationally, the unemployment rate was recorded at 6.4 per cent, which was unchanged on a monthly basis.

Canada’s employment rate was 60.9 per cent in July, marking a slight decline from June’s rate of 61.1 per cent.

StatsCan noted employment has been on a downward trend nationally since January when the rate was 62.4 per cent in January and February of 2023, adding the rate had declined in nine of the previous 10 months.

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by Liam Verster

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