Published: Sun, June 10, 2018
Markets | By Otis Pena

Stats Canada says unemployment dips below four per cent in Victoria

Stats Canada says unemployment dips below four per cent in Victoria

The province was one of five that saw a small drop in unemployment, despite the national economy losing 7,500 jobs in May as a drop in full-time employment was only partially offset by an increase in part-time jobs. The unemployment rate remained steady because the labour force, which includes those looking for work, increased by a similar amount.

Sectors gaining jobs included the accommodation and food services sector which added 18,000 jobs, helped by growth in British Columbia.

The 7,500 decline in employment contrasts with economists' forecasts for a gain of 17,500 jobs.

Among the major centres in B.C., Vancouver's unemployment rate held steady at 4.1 per cent, Abbotsford climbed two points to 4.6 per cent, and Kelowna hit 5.0 per cent unemployment compared to 4.8 per cent in April.

There was little change in the number of employees in both the private and public sectors as well as the number of self-employed workers.

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Statistics Canada says the jobless rate in Windsor is up.

"And in some other strong indicators this week, the Bank of Canada should be on track to raise rates next month barring more fallout on the trade front".

BC Stats has yet to release its report on the labour force survey, which breaks down provincial job gains and losses by sector.

The overall reduction in the number of jobs in Canada is attributable to the following: the number of those that involve the employment of full-time work decreased by 31 000, and is only partly compensated by the emergence of 23 600 new places part-time. Despite the increase in the unemployment rate for the fifth straight month, the region only lost around 100 jobs from April to May. Thomas unemployment rate in May.

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