Local unemployment rates continue to decline

The most recent labour force report shows positive moves in the Thompson-Okanagan’s unemployment rate.

The data from Statistics Canada shows the economic region that includes Vernon and Kelowna had an unadjusted unemployment rate of 4.8 per cent in September. That figure is down from the 5 per cent unemployment recorded in August, and from the 5.3 per cent unemployed in September of 2021.

Meanwhile, StatsCan did report a decline in regional employment.

The data shows the unadjusted employment rate for Thompson-Okanagan was 59.8 per cent this past September. That is down from the 63.9 per cent rate in August, and from the 60.1 per cent employment rate recorded the previous September.

StatsCan did not provide data specific to Vernon, but did show that Kelowna had an adjusted unemployment rate of 4.1 per cent, up from the 3.9 per cent in August.

Kelowna had an adjusted employment rate of 57.7. per cent in September, down from the 59.2 per cent in August.

British Columbia, as a whole, had an adjusted unemployment rate of 4.3 per cent in September, marking a decline from the 4.8 per cent recorded in August.

B.C.’s employment rate also rose from 61.3 per cent in August to 62 per cent in September.

“As we move into fall, British Columbia is leading Canada in employment growth, gaining 33,000 total jobs in September. We also led the country in private-sector job growth with 30,200 new private-sector jobs,” said Ravi Kahlon, B.C.’s Minister of Jobs, Economic Recovery and Innovation.

“B.C.’s unemployment rate remains one of the lowest in the country, reflecting a tight labour market at 4.3 per cent, the lowest it’s been since May 2019, with 101,000 more people working full time than a year ago.”

StatsCan noted that B.C. had the largest month-over-month employment increase in the country.

“Our economic recovery rate of 104.1 per cent continues to make B.C. a leader across the country – 109,000 more people are working today than before the pandemic, including 59,500 people in the private sector,” added Kahlon.

Canada recorded an adjusted unemployment rate of 5.2 per cent in September, marking a 0.2 per cent monthly decline.

The national adjusted employment rate was 61.3 per cent, which is unchanged from August’s figure.