Office of the Premier
Brenda Bailey, Minister of Jobs, Economic Development and Innovation, has issued the following statement on the release of Statistics Canada's Labour Force Survey for February 2024:
“In the face of high interest rates and slower global economic growth, B.C. held steady in February with a growth of 5,900 jobs and a gain of 70,900 jobs since February 2023. B.C. has added the second-most private-sector jobs of any province since February 2023 at 22,400.
“Our unemployment rate decreased to 5.2%, one of the lowest among provinces and below the national average.
“Today, on International Women’s Day, we renew our commitment to taking action for gender equity. This month, women’s employment increased by 3,800 and more women are employed full-time in B.C. now than at any time.
“From 2017 to 2023, women’s employment across all sectors increased by more than 120,000. Since July 2017, the number of women in full-time employment in B.C. has increased by 13.4%, demonstrating the importance of government’s action to provide more affordable child care. These numbers show a positive trend of women’s participation in the workforce overall, with a significant contribution to B.C.’s economy.
“When we look at today’s Labour Force Survey data, increases in information, culture and recreation (+7,300), and construction (+3,600) are encouraging, as our film sector gains back momentum and building housing continues to be a top priority. B.C.’s average hourly wage is $36.46, the highest among provinces.
“B.C. Budget 2024 takes action on the challenges people and businesses are facing right now by helping with everyday costs, delivering more homes faster, strengthening health care and building a stronger, more sustainable economy that works better for people.
“The budget provides immediate support, including a bonus to the B.C. Family Benefit, which will deliver an average of $450 for more than 340,000 families. A one-time B.C. Electricity Affordability Credit will help reduce electricity bills for people and businesses.
“For small business owners, the Employer Health Tax threshold has been increased to $1 million. This means 90% of businesses will be exempt from the Employer Health Tax and thousands more will receive savings.
“This week, the Government of B.C. announced $237 million to boost initiatives for minimum nurse-to-patient ratios, plus its plans to retain and recruit nurses. In 2023, 6,567 nurses were newly registered in B.C.
“The B.C. government is committed to supporting people and businesses. Our StrongerBC Economic Plan is making the economy cleaner, creating jobs and helping local businesses grow.”
Learn More:
To find out more about the StrongerBC Economic Plan, visit: https://strongerbc.gov.bc.ca/plan/
