Budget

Statistics Canada’s monthly labour force survey for May 2020 shows another increase in British Columbia’s unemployment rate.

The province’s jobless rate rose to 13.4 per cent in May after reaching 11.5 per cent in April, despite 43,000 jobs being added as more people entered the work force and were unable to find employment.

In Victoria, the unemployment rate reached 10.1 per cent in May, compared to 7.2 per cent in April. The overall unemployment rate in 2020 for Vancouver Island sits at 11 per cent.

Earlier this month, B.C. Finance Minister Carole James stated that the sheer number of job losses in the province and across the country were unprecedented.

“The personal and economic pain that COVID-19 has caused around the world is unprecedented in our lifetime, but there is light at the end of the tunnel,” said James, after the April 2020 Labour Force survey was released on May 8.

Like last month, accommodation, food services, and the retail sector have suffered most as a result of COVID-19 shut downs.

On a national scale, unemployment reached 13.7 per cent, breaking the previous record of 13.1 per cent that was set in 1982.

(Statistics Canada)