Province says Jobs Plan ‘on track’
Even with the loss of 10,900 jobs in October, the province remains on track to meet its BC Jobs Plan targets., the government said in a press release.
B.C.’s job numbers declined for the month but kept pace with the overall job figures across the country.
“The B.C. Jobs Plan is all about building a foundation. It’s about putting in place the skills required for tomorrow and building on our investments to grow the economy,” said Pat Bell, Minister of Jobs, Tourism and Skills Training and Minister Responsible for Labour. “There are bound to be fluctuations in the monthly jobs numbers but our focus remains steady economic growth by continuing to invest in a skilled workforce.”
Since the Jobs Plan was released, B.C. ranks third compared to other provinces, behind Quebec (gained 55,200 jobs) and Alberta (gained 50,400 jobs).
Since February 2011, B.C. has added 56,500 jobs. (In February 2011, there were 2,260,900 jobs.)
B.C. has gained 70,800 full-time positions, offset by a loss of 14,100 part-time positions. (In February 2011, there were 1,741,900 full-time jobs).
B.C.’s labour force decreased by 18,600 people in October and now stands at 2,484,800. Compared with 14 months ago, B.C.’s labour force has increased by 31,100 people. B.C.’s unemployment rate of 6.7 per cent is down from September’s rate of 7.0 per cent and is 0.1 of a percentage point higher than October 2011’s rate of 6.6 per cent. B.C. has Canada’s fourth-lowest unemployment rate. Alberta (4.5 per cent), Saskatchewan (4.7 per cent) and Manitoba (5.6 per cent) have lower unemployment rates.
The unemployment rate for youth (15 to 24 years of age) was recorded at 13.4 per cent, down by 0.6 percentage points from September. In October 2011, the youth unemployment rate was recorded at 12.7 per cent.
Last month strong gains were recorded in finance, insurance, real estate and leasing (+10,300 jobs), other services (+8,000 jobs), information, culture and recreation (+5,000 jobs) and construction (+3,200 jobs).
- When the Jobs Plan was released, 2,270,900 people were employed in the province. As of today, 2,317,400 people are employed in the province. The difference is 46,500 more people working.
- When the Jobs Plan was released, 1,746,700 people were employed in full-time positions in the province. As of today, 1,812,700 people are employed in full-time positions. The difference is 66,000 more people in full-time positions.
- When the Jobs Plan was released the unemployment rate in the province was 7.4 per cent. As of today, the unemployment rate is 6.7 per cent,
below the national average of 7.4 per cent.
- Since February of 2011, B.C. has added 56,500 jobs.