BRENDA Bailey, Minister of Jobs, Economic Development and Innovation, reacting to the release of Statistics Canada’s Labour Force Survey for June 2024 on Friday, said that in the face of high interest rates and slower global economic growth, B.C. is holding steady.
The province has gained 72,300 jobs since June 2023. This month it gained 5,000 jobs in the private sector. Compared to this time last year, B.C.’s private-sector employment is up by 47,700, the second-largest increase among provinces over this period.
B.C.’s unemployment rate is 5.2%, the second-lowest unemployment rate among provinces and below the national average. Among provinces, B.C. once again has the highest average hourly wage in June, and the highest GDP growth (16.9%) among large provinces since 2017.
B.C.’s youth unemployment rate is 10.2%, the second lowest among provinces. While youth employment is down across the country, B.C. has the largest year-over-year increase in youth employment among all provinces at 13,100.
Friday’s Labour Force Survey data shows increases of 14,000 wholesale and retail trade jobs, 3,200 business, building and other support services jobs, and 6,900 construction jobs.
Bailey said: “Growth in construction and building jobs is encouraging news for our housing sector and B.C.’s work to build more homes for people.
“Despite higher borrowing costs, inflation and labour shortages that are challenging construction companies worldwide, construction remains robust. And we continue to create thousands of construction jobs by investing in the roads, affordable housing, transit, hospitals and schools people need.
“That’s why we’re putting in place new opportunities to help more people get trained for good jobs in the industry through our $480-million Future Ready Action Plan. This includes the future skills grant, which provides up to $3,500 for short-term skills training. The BC Access Grant offers up to $4,000 per year, while former youth in care can receive tuition-free unionized trades training.
“We also are focused on strengthening the health-care system by recruiting qualified individuals to care for British Columbians. Since this time last year, B.C. has gained more than 30,000 jobs in health care and social assistance.
“We have made solid progress in the 10-Year Cancer Care Action Plan meant to build capacity and expand access to cancer-care services to meet growing demand in B.C. To meet this growing need for cancer services, the Province has hired more cancer-care professionals in 2023-24, one year since the plan’s launch. This includes 92 cancer-care physicians, including 71 oncologists and 32 radiation therapists, with more to come.
“Our government has been following our Industrial Blueprint and working collaboratively across all sectors to seize opportunities, drive growth and create jobs in the clean-energy and clean-industry sectors.”
