Ravi Kahlon, Minister of Jobs, Economic Recovery and Innovation, has issued the following statement on the release of Statistics Canada’s Labour Force Survey for September 2022:
“As we move into fall, British Columbia is leading Canada in employment growth, gaining 33,000 total jobs in September. We also led the country in private-sector job growth with 30,200 new private-sector jobs.
“B.C.’s unemployment rate remains one of the lowest in the country, reflecting a tight labour market at 4.3%, the lowest it's been since May 2019, with 101,000 more people working full time than a year ago.
“Our economic recovery rate of 104.1% continues to make B.C. a leader across the country – 109,000 more people are working today than before the pandemic, including 59,500 people in the private sector.
“In a time of global economic uncertainty, B.C.’s strong economy continues to attract people from across Canada and around the world. B.C.’s net migration to our province reached nearly 70,000 people in the first two quarters of 2022, the highest on record in more than 60 years – bringing workers we need to address labour shortages as we work to build the services and housing to support this record growth.
“With the fall comes back-to-school time for our K-12 and post-secondary students who are furthering their education and pursuing careers in exciting and in-demand fields. B.C. was one of only two provinces to see job gains for youth in September, even as students heading back to school balanced work and education.
“Our government continues to take important steps through our StrongerBC Economic Plan to provide the supports businesses need to grow and create more jobs.
“We’re making the food-delivery fee cap permanent to support local restaurants, and we just introduced new legislation to allow municipalities to provide tax relief to small businesses that have been paying high property taxes because of development potential. Significant child care savings coming in December 2022 will also support people’s participation in the workforce, especially women.
“Fostering innovative ideas and solutions, and creating more sustainable, inclusive and quality jobs is crucial to growing our economy.
“Our new InBC Investment Corp. is focused on helping high-potential businesses grow in B.C. through $500 million in funding from the Province. Through investments in venture-capital funds and B.C. businesses, InBC will help support people, profit and the planet, while making diversity, equity and inclusion, as well as environmental, social and governance values, guiding principles in every investment decision.
“All of this is part of the StrongerBC Economic Plan, which is moving B.C. forward by tackling the challenges of today, while growing an economy that works for everyone.”
To learn more about InBC, visit: https://news.gov.bc.ca/releases/2022JERI0062-001486
StrongerBC For Everyone: B.C.’s Economic Recovery Plan: https://strongerbc.gov.bc.ca/