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 October 2022:
“As we continue to make our way through 2022, British Columbia added nearly 10,000 new jobs in the month of October. With steady growth and one of the lowest unemployment rates in Canada (4.2%), B.C. continues to be a leader in Canada’s economic recovery, even as new global challenges emerge.
“Last month, we saw significant growth in our manufacturing and construction sectors, which speaks to the efforts of so many to build the homes and infrastructure we need and help bolster and grow our supply chains so people can benefit from their products being made closer to home.
“The most heartening news is the progress we are making on women’s employment. Today, B.C. leads Canada in economic recovery for women with the highest women’s job recovery rate in the country, reminding us how important our work on child care is for our collective success. Child care is an economic driver. Starting next month, workers and business owners with young children will save as much as $550 more on child care costs. This supports more women joining the workforce and means families will have more left over at the end of the month to help manage the rising costs related to global inflation.
“As the Bank of Canada tackles rising inflation through higher interest rates, we know people and businesses are being affected. Forecasters are projecting global economic challenges ahead. B.C. is not immune to global challenges, but no matter what is on the horizon, we will keep being there for people and businesses.
“We’ve put in place important supports for businesses in B.C. These include:
- new tools to allow municipalities to provide property-tax relief to small businesses;
- allowing restaurants to purchase alcohol at wholesale prices, for savings of up to 20%;
- as the first province in Canada to make the food-delivery fee cap permanent, providing cost certainty and support to restaurants and bars; and
- cutting the small business tax rate and increasing access to it by raising the taxable capital ceiling from $15 million to $50 million.
“Our StrongerBC Economic Plan is about moving B.C. forward by investing in people – our strategy since Day 1. Our work will continue because we know that an economy built for all is an economy built to succeed.”
Stronger BC For Everyone: B.C.'s Economic Plan: https://strongerbc.gov.bc.ca/
Learn how the government is cutting child care fees for B.C. parents: https://news.gov.bc.ca/releases/2022ECC0076-001408