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Unemployment in the Cariboo hits two year low

The unemployment rate in the Cariboo region hasn’t been this low since July of 2019.

Vincent Ferrao is a Labour Market Analyst with Stats Canada.

“Looking at the unemployment rate it was 6 percent, not much change from the previous month when it was 6.1.  However, compared to a year ago it was down considerably.  It was 10.5 in July 2020. So with the pandemic, it soared up to 10.5 and gradually it has gone down to 6.”

Ferrao says there were about 7 thousand more people working in the region last month, compared to a year ago.

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“For July we have about 88 thousand people working, similar to what we had the previous month in June. However, compared to a year ago we had 81,000.”

There were around 91,500 people working in the region in July of 2019.

Looking at the different sectors, Ferrao says there were some ups and downs.

“There are a few sectors with more people working.  Professional, scientific and technical services is up, healthcare and social assistance is also up, accommodation and food services is up.  But we have some declines, wholesale and retail trade, and transportation and warehousing.”

BC’s jobless rate was 6.6 percent in July, the same as the previous month, and the third lowest in the province.

Quebec and Manitoba were at 6.1 percent.

Alberta was at 8.5, and the unemployment rate in Ontario in July was an even 8 percent.

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