BC’s jobless rate soars in July
Posted August 10, 2012 7:08 am.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – Job creation stopped dead in its tracks and moved into reverse last month, both in BC and across Canada.
We lost 14,500 jobs in this province last month and BC’s unemployment rate soared four tenths of a point from June to seven per cent.
Full-time jobs actually rose 9,600 last month, but it wasn’t enough to overcome the loss of 24,500 part-time positions. The big drop came despite the BC workforce shrinking by 5,700 and the participation rate slipping two tenths of a point.
Nationwide, today’s monthly report from Statistics Canada says the country lost 30,400 jobs. Economists were expecting a gain of 6,000.
The country’s unemployment rate rose a tenth of a point to 7.3 per cent.
