BRITISH COLUMBIA – In response to the June 2024 Labour Force Survey by Statistics Canada, a BCREA Report stated that Canadian employment was largely unchanged from the previous month, contracting by just 1,400 jobs, to 20.516 million in June.
The report further said that “the unemployment rate rose by 0.2 points to 6.4 per cent, the fifth consecutive monthly increase, and up 1 point from this time last year. Average hourly wages rose 5.4 per cent year-over-year to $34.91 last month, while total hours worked were up 1.1 per cent from June of last year.
“Employment in BC fell 0.3 per cent to 2.854 million, while employment in Metro Vancouver fell 1.2 per cent to 1.591 million in June. The unemployment rate fell 0.4 points in BC to 5.2 per cent while falling in Metro Vancouver by 0.7 points to 5.4 per cent last month.”
BC Minister Brenda Bailey commented, “In the face of high interest rates and slower global economic growth, BC is holding steady. We have gained 72,300 jobs since June 2023. This month we gained 5,000 jobs in the private sector. Compared to this time last year, BC’s private-sector employment is up by 47,700, the second-largest increase among provinces over this period.
“BC’s unemployment rate is 5.2%, the second-lowest unemployment rate among provinces and below the national average. Among provinces, we once again have the highest average hourly wage in June, and we have the highest GDP growth (16.9%) among large provinces since 2017.
“Today’s Labour Force Survey data shows increases of 14,000 wholesale and retail trade jobs, 3,200 business, building and other support services jobs, and 6,900 construction jobs.”
Source: BCREA & Province of BC
