Diana Gibson, Minister of Jobs, Economic Development and Innovation, has issued the following statement on the release of Statistics Canada’s Labour Force Survey for November 2024:

“As slow global economic growth and the impact of high interest rates continues to be felt throughout Canada, B.C. has continued to show strength with a gain of 1,400 jobs in November, all from full-time job growth.

“B.C.’s unemployment rate decreased to 5.7%, the second lowest unemployment rate among provinces and well below the national average of 6.8%. 

“Private-sector employment is up by 5,100 this month, the second highest amongst provinces and up by 7,700 compared to this time last year.  

“Today’s Labour Force Survey data shows a growth of 12,500 jobs in construction, which is good news as the government continues its focus on creating more affordable housing for all British Columbians. B.C. is also seeing gains in professional, scientific and technical services (+10,200), and accommodation and food services (+8,000).

“Our government is working hard to deliver an economy that pays people well and reduces costs, including creating good jobs in your community with wages growing faster than inflation.

“Since 2018, we have the highest GDP growth among large provinces of 14%. In 2022 and 2023, B.C. attracted a record-setting $117 billion in capital investment, 73% more than in 2016 and 2017.

“The holidays are an important time of year for small and local businesses, and I encourage British Columbians to buy local and support jobs in your community. Downtown Vancouver is hosting an unprecedented number of events this weekend, generating positive income potential for the local economy and a great opportunity for businesses and the Greater Vancouver area overall.

“On average, local businesses recirculate $63 out of every $100 back into our province, compared to just $14 recirculated by multinational corporations. Locally owned independent businesses spend approximately 30% of their revenue on B.C. products and services, while also creating more than eight times the jobs per square foot than multinationals.

“Our government has been working collaboratively across all sectors to seize opportunities, drive growth and create jobs in a clean economy that works better for people.”

Learn More:

To learn more about Clean and Competitive: A Blueprint for B.C.’s Industrial Future, visit: https://news.gov.bc.ca/files/Clean_and_Competitive.pdf

To find out more about the Stronger BC Economic Plan, visit: https://strongerbc.gov.bc.ca/plan/