Thursday, March 28, 2024

B.C’s unemployment numbers inch downwards in October

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New data from Statistics Canada released on Friday shows a small improvement in B.C.’s unemployment numbers over the month of October.

The overall unemployment rate fell by 0.4 per cent from the previous month to end at 8.0 per cent for October.

Metropolitan Vancouver saw significant job gains, with an increase in the employment rate of 3.8 per cent.

The increase in jobs brought B.C’s employment rate to 2.4 per cent below where it stood in February, prior to the COVID-19 pandemic.

Recently re-elected Premier John Horgan said the figures showed a positive sign for the economy but emphasized the hardships that still exist in the country.

“The numbers, while welcome, do not fully reflect the continuing serious hardship in some sectors of the economy,” said Horgan in a statement.

“We know there is much more to do as some businesses are still struggling.”

The Premier also said that his government will continue to prioritize managing the COVID-19 pandemic, calling collective efforts to slow the spread “first and foremost” at the minds of British Columbians.

“British Columbia has proved the key to a strong economic recovery is effective management of public health and preventing the spread of this virus,” he stated.

“We must redouble our efforts.”

With record-breaking case numbers announced on Thursday and Friday across the province, a second wave of the virus could lead to further economic restrictions.

Tim Ford
Tim Ford
Digital staff writer with Victoria Buzz

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