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 November 2022:
“As we near the end of 2022, British Columbia saw a gain of 8,800 full-time jobs in November, even as B.C. saw an overall decline in jobs (-13,700, 0.5%) driven by losses in part-time positions. This reflects the impact of the Bank of Canada’s interest-rate hikes to fight global inflation. Despite global economic uncertainty, B.C. continues to be well-positioned among our provincial and territorial peers with one of the lowest unemployment rates in Canada (4.4%), near historic lows for B.C.
“B.C. saw an increase in private-sector jobs this month (+5,500) and our economic recovery rate of 104% also continues to make B.C. a leader across Canada. As many as 105,000 more people are working now in B.C. than before the pandemic, including 61,700 more people in the private sector.
“Through our StrongerBC Economic plan, we remain steadfast in our focus to invest in people and their priorities – moving forward on our commitment to build an economy that works for all British Columbians.
“I’m heartened to note that B.C. continues to lead Canada in women’s job recovery, with 73,500 more women working today in B.C. than prior to the pandemic. Just yesterday, parents in British Columbia began saving as much as $550 more per month for each child they have in participating licensed child care facilities, providing even more opportunities for parents, especially women, to participate in our economy.
“As people and businesses feel the squeeze of global inflation, we’re continuing our support of small local businesses, the backbone of our communities. Last month, we launched the BC Hydro cost-of-living credit, which will save businesses $126 million on their hydro bills this winter. B.C. has also become the first province to implement a permanent cap on fees charged by food-delivery companies.
“We have more work to do and that’s why Premier David Eby is continuing to hit the ground running, taking big steps to help make life better for people on the issues that matter to them, like community safety, housing, cost of living, health care and climate action.
“Despite the challenges that have come our way, B.C. has experienced a faster economic recovery than private- or public-sector economists initially forecasted – setting us up in the best possible way as we move forward.
“I want to acknowledge the continued resilience of British Columbians during tough global economic times, which has shone through in the determination of people and businesses during the past year. Because of their drive and our work together, B.C. is well-positioned to navigate whatever lies ahead.”
StrongerBC Economic Plan: A plan for today, a vision for tomorrow: https://strongerbc.gov.bc.ca/