The Canadian labour market finished the year strong, adding 54,000 jobs in December, the fourth consecutive month of positive job growth. More importantly, full-time employment jumped by over 80,000 jobs in December while part-time work declined. The national unemployment rate increased 0.1 points to 6.9 per cent as more people participated in the labour market. For all of 2016, Canadian employment expanded by 214,000 jobs or 1.2 per cent.
In BC, employment grew by 17,000 jobs while the provincial unemployment rate fell 0.3 points to 5.8 per cent. BC led all provinces in job growth in 2016 with employment expanding 3.1 per cent. The BC economy added a total of 72,000 jobs over the course of the year, evenly split between full-time and part-time work.
In the US, payrolls increased by156,000 in December while the US unemployment rate ticked 0.1 points higher to 4.7 per cent.
Copyright British Columbia Real Estate Association. Reprinted with permission.