Unemployment rate down across Canada, but up in BC: StatCan

Canada’s unemployment declined for the first time since January last month, according to new data from Statistics Canada.

The agency said the national jobless rate was 6.5 per cent in September, a fractional drop from August’s 6.6.

In British Columbia, however, the rate increased from 5.8 per cent to six per cent.

StatCan said employment in the province declined by 18,000 in September, while the employment rate (60 per cent) fell 0.5 percentage points from August.

The decline in employment between September 2023 and last month was 1.8 percentage points, the agency explained.

In Kelowna, the unemployment rate did not budge in September, staying at 4.7 per cent. But the city’s population increased from 199,700 to 200,300, while the labour force declined from 116,900 to 116,000.

Employment in the city also declined, from 111,400 to 110,500.

Elsewhere in BC, the unemployment rates in September were:

• Abbotsford–Mission: 6.4 per cent (down from 6.6 per cent in August)

• Vancouver: 6.3 per cent (up from 5.9 per cent)

• Victoria: 3.4 per cent (up from 3.3 per cent)

Brenda Bailey – who is hoping to be re-elected in Vancouver–South Granville – said in a press release BC "continues to be strong."

“BC’s unemployment rate is 6 per cent, significantly below the national average of 6.5 per cent and Alberta’s unemployment of 7.5 per cent," the BC NDP's most recent jobs minister added.

The BC Conservatives are yet to comment on the figures.

Overall in Canada, the economy added 47,000 jobs in September.

StatCan said young people and women aged 25–54 drove the gains.

The agency highlighted jobs added in information/culture/recreation (22,000), wholesale/retail trade (22,000) and professional/scientific/technical services (21,000).

Once again, however, population growth – due to immigration – outstripped job creation. StatCan said that, on a year-over-year basis, employment was up 313,000 in September, while the population of people aged 15 and over increased by 1.2 million.

Last month the agency reported that inflation in August was two per cent, which is the Bank of Canada’s target.

BC, however, had the country’s highest rate, at 2.4 per cent.

The Bank of Canada lowered its key interest rate to 4.25 per cent in September.