Canadian employment increased by 11,000 jobs in July after adding almost 100,000 jobs over the previous two months. The national unemployment rate declined 0.2 points to 6.3 per cent, the lowest rate since October 2008. In the twelve months to July, employment in Canada is up 2.1 per cent, or 388,000 jobs including 354,000 full-time positions.
In BC, employment declined by 5,100 jobs, the first monthly decline since November 2016. However, the decline was entirely the result of fewer part-time positions while full-time employment actually expanded by 7,000 jobs. The provincial unemployment rate edged up 0.2 points to 5.3 per cent. Over the past twelve months, the BC economy has added 87,000 new jobs including 99,200 full-time jobs at the expense of part-time employment which has fallen by 12,200.
Copyright British Columbia Real Estate Association. Reprinted with permission.