ANITA HUBERMAN
SURREY – The Surrey Board of Trade’s August 2024 Labour Market Intelligence Report has been released, outlining Surrey’s labour market outlook for July 2024. This month’s report includes a special focus on immigration labour market trends in Surrey.
“Regulatory, investment, housing, monetary and labour policies need to continue to be monitored and adjusted to support economic growth in Surrey and beyond,” said Anita Huberman, President & CEO, Surrey Board of Trade. “Despite the slower employment growth, employers and key industries in Surrey are still identifying skill shortages and talent vacancies. They should continue to work with employment service providers and post-secondary institutions (public and private) to ensure participants/students have the skills and work experience opportunities to be qualified for positions employers need to fill.”
The August 2024 Labour Market Intelligence Report indicates that in July 2024 there was an estimated 1.4% or 4,809 more jobs above employment in July 2023; and 11,424 or 3.5% more than in July 2022. This is slightly lower than BC’s job growth of 2.3% over the last 12 months (July 2023-July 2024). Over the last year, four of the five top job growth sectors in Surrey were in service-producing industries:
1. Business, building and other support services increased by over 2,800 jobs for a nearly 25.0% increase;
2. Construction in Surrey grew by over 2,700 jobs or 9.0% over this period;
3. Health care and social assistance grew by over 2,700 or 6.4%;
4. Transportation and warehousing jobs grew by over 1,800 or 10.5% in the last 12 months; and,
5. Employment in Surrey’s public administration industry grew by over 1,600 or 12.7%.
The sectors with the most negative employment change in Surrey over the last 12 months are estimated to be in wholesale and retail trade, accommodation and food services, and natural resource industries.
In this August 2024 Labour Market Intelligence Report the focus of Surrey’s immigrant labour force shows that recent immigrants in Surrey have the highest rate of participation in the labour force, when compared to all immigrants and the total population.
The top industries of employment in Surrey include retail trade, health care and social assistance, construction, and transportation and warehousing – with retail trade being the highest employing industry for Surrey’s general population; health care and social assistance employing the highest number of immigrants; and transportation and warehousing employing the most recent immigrants.
Source: Surrey Board of Trade
