The jobless rate in the Cariboo region has never been this low since Stats Canada went to a three month rolling average format.
Vincent Ferrao, a Labour Market Analyst, goes over some of the numbers.
“The unemployment rate is at 3 percent. At this time last year it was 7.9. March, 2006, the series begins because it’s a three month average, and this is the lowest since that method started.”
Last month’s jobless rate of 3 percent was down from 3.2 in January.
Ferrao says there were roughly 2,800 people who were unemployed and looking for work in the region last month.
That compares to 89.700 people working, which is up by about 4,000 from March of 2021.
“Construction is up a bit and wholesale and retail trade, that’s it for gains. And declines, basically a little bit in other services. So for industries, it’s not widespread, it’s just maybe a couple where the gains took place.”
BC’s jobless rate was at 4.9 percent last month, down from 5.1, and the national unemployment rate was 5.5 percent, down from 6.5.