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More people working but unemployment is up in the Cariboo 

   The unemployment rate in the Cariboo region was up to start 2024.
   Vincent Ferrao is a Labour Market Analyst with Stats Canada.
   “The unemployment rate for January was 6.6 percent and that is up compared to January 2023.  It was 6.1 percent at that time.”
   The Cariboo’s jobless rate was 5.6 percent in December.
   Despite those numbers, Ferrao says there were more people working in the region last month.
  “We had 86,400 employed people this January, and a year ago there were 82,600 people working.  The number of people unemployed went up by several hundred.  6,100 this January compared to 5,400 a year ago which means that the participation rate went up.”
   Ferrao says the participation rate was 63.4 percent in January, up from 61.3 a year ago.
   He says most of the job gains last month were in two sectors.
   “Educational services went up, so that led the growth.  Also construction and manufacturing.”
   Ferrao says there was a minor decline in finance, insurance, real estate, leasing
   The national unemployment rate was 5.7 percent last month which was down slightly from 5.8 in December.
   BC’s jobless rate was 5.4 percent, unchanged from December, and 4th lowest out of the provinces.

Here is a breakdown of all the provinces:

  • Manitoba 4.0%
  • Quebec 4.5%
  • Saskatchewan 4.7%
  • BC 5.4%
  • Alberta/Ontario 6.2%
  • New Brunswick 6.6%
  • Nova Scotia 7.0%
  • Prince Edward Island 7.4%
  • Newfoundland and Labrador 10.2%
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