B.C. adds 12,000 new jobs in August; full-time positions drop
Posted September 8, 2023 10:06 am.
Last Updated September 8, 2023 10:10 am.
British Columbia added 12,000 new jobs last month, but the August employment numbers were largely driven by part-time positions.
The latest Labour Force Survey shows full-time employment in the province actually decreased by about 24,000, but that was offset by the creation of 36,000 part-time positions. B.C.’s August unemployment rate was 5.2 per cent, which the province says is second-lowest in the country.
“In August, jobs in education increased, which is good news for families with children in public schools and child care. B.C. saw a boost in transportation and warehousing jobs, too, a positive sign for people and businesses following the July port strikes,” said B.C. jobs minister Brenda Bailey in a Friday statement.
Related Story: Unemployment rate steady at 5.5% in August as economy adds 40K jobs: StatCan
With stronger-than-expected job numbers and wages across the country, there are worries the Bank of Canada might raise its key interest rate again to keep inflation in check.
“We have heard from people very clearly that interest rate hikes that have been going on for a long time, of course, are affecting people’s lives,” B.C. Minister of State for Trade Jagrup Brar told CityNews on Friday.
“Inflation is high anyway and on top of that, it frustrates people particularly who have loans and mortgages. It’s very difficult for them to make ends meet.”
Last month, Premier David Eby penned a letter to the Bank of Canada’s governor, urging him to reconsider a possible interest rate hike in September, noting the hardships many British Columbians are facing.
Ontario’s premier followed in making a similar plea to Tiff Macklem.
Nationwide, Canada’s labour market added 40,000 new jobs in August, with the national unemployment rate sitting at 5.5 per cent, according to Statistics Canada.
The federal agency says Canada’s strong population growth means higher monthly job gains are needed to keep the unemployment rate steady.
With files from The Canadian Press
