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HomeNews100 Mile HouseCariboo Unemployment Rate Drops.

Cariboo Unemployment Rate Drops.

The year over year unemployment rate in the Cariboo region dropped by one full percentage point to close out 2018.

Vincent Ferro, a Labour Market Analyst with Stats Canada, says the jobless rate was 5.3 percent last month, which was down from 6.3 a year ago in December of 2017.

But Ferro says the main reason for the decline was that fewer people were actually participating in the workforce…

“So that’s the unemployment rate 5-3. That represents 42-hundred people who are looking for work and a year ago when it was 6.3 percent, there were 54-hundred people looking for work. In terms of number of people who are working, we have 75,100 people working this December and that’s a decline. Last year at the same time we had 80,200 people employed.

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Ferro says the biggest decline was in retail and wholesale trade.

He says there was a slight increase in the number of people working in manufacturing.

Canada’s jobless rate is 5.6%.

BC continues to have the lowest unemployment rate in the country at 4.4%.

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