B.C.’s latest jobs numbers appear to be a bit of a mixed bag.
Statistics Canada data released on June 6 reveals the province lost 8,000 jobs in June.
At the same time, the unemployment rate on the West Coast ticked up 0.4 percentage points to 5.2% as more people entered the workforce looking for work.
“One curiousity [sic] at the regional level is that B.C. continues to boast the lowest unemployment rate in the nation at 5.2% (Quebec is next at 5.4%), yet it has the weakest employment performance over the past year at -0.8% y/y,” BMO chief economist Douglas Porter said in a note to investors.
“That compares with a 1.2% y/y gain for the country as a whole, led by a2.2% y/y rise in Ontario and +1.5% in Alberta.”
Meanwhile, Canada added a total of 32,000 jobs last month and the unemployment rate grew 0.2 percentage points to 6%.
“Not too shabby,” TD senior economist Brian DePratto said in a note.
“Canada managed to shake off the past few months of declines, and this was one of those reports where a rising unemployment rate isn't a bad thing as it was driven by more Canadians engaging with the labour force.”
