Steve Flynn  RE/MAX Crest Realty- Burnaby 

Cell: 604.785.3977 |


Canadian Employment (Nov) - December 5, 2020

Canadian employment gained 62k jobs in November (0.3%, m/m), increasing in Ontario, BC, and the Atlantic provinces. This is the seventh consecutive month of increases, putting national employment within 574k of its pre-COVID February level. The national unemployment rate decreased by 0.4 percentage points to 8.5%, continuing the steady fall from the record high of 13.7% in May. Compared to the same month last year, Canadian employment was down by 2.5% (-482k). 

In BC, employment grew by 24k (1.0%, m/m) in November, following a gain of 34k in the previous month. The province is now at 99% of its pre-COVID February employment level. The unemployment rate fell for the sixth consecutive month, down by 0.9 percentage points to 7.1%. Meanwhile, in Vancouver, employment increased by 18k jobs (1.2%, m/m). Compared to one year ago, employment in BC was down by 1.8% (-47K) jobs. 

Despite the new restrictions introduced and new COVID-related workplace safety requirements, employment still grew in BC but at a slower rate than the previous months. Gains in full-time work were partly offset by losses in part-time employment. Several industries saw increases, including accommodation and food services, transportation and warehousing, wholesale and retail trade, and construction. On the whole, we can expect employment growth to continue to slow as COVID-19 cases rise, and some provinces could prolong containment measures well into December and early 2021, as Quebec just announced heightened restrictions around holiday gatherings.

Copyright British Columbia Real Estate Association. Reprinted with permission.


No comments

Post Your Comment:

Your email will not be published
Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.