Published: Sun, June 10, 2018
Business | By Eloise Houston

Northeast BC unemployment jumps to 7.9% in May

Northeast BC unemployment jumps to 7.9% in May

This caused the unemployment rate to improve to 4.1 per cent from 4.2 per cent over the same period.

Barrie's unemployment rate dropped in May, but remains one of the highest in the country. The seasonally adjusted annual rate of housing starts fell to 195,613 units from a revised 216,775 units in April, the Canada Mortgage and Housing Corporation said.

The unemployment rate across the province was steady at 4.9 percent, while the national unemployment rate dropped from 6.2 to 6.1 percent last month.

Jobs declined by 7,500 in May, Statistics Canada said on Friday, in contrast with economists' forecasts for a gain of 17,500 jobs.

Statscan says Victoria had the lowest unemployment rate among major B-C centres last month, dipping to 3.9 per cent from 4.2 per cent in April while the number of people looking for work in Kelowna edged up to an even five per cent from 4.8 per cent the month earlier.

"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". That's when the city had the highest jobless numbers in the country with a rate of 8.8 per cent. Employment fell by 7.5k net positions.

The loss of jobs came as the health care and social assistance sector lost 24,000 jobs, while the manufacturing sector lost 18,000. In terms of employment types, the public sector added 12.9 k jobs, while private employment fell 4.8k.

Provincially, employment increased in Prince Edward Island, while it decreased in British Columbia and Nova Scotia.

The decline in jobs was driven by a drop of 31,000 full-time positions, while part-time work rose by 23,600 positions.

With files from The Canadian Press.

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