The unemployment rate in Greater Victoria remains among the lowest in the country, but also rose in November.
The unemployment rate for the Victoria Census Metropolitan Area (CMA) rose to 3.5 per cent in November, up from 3.2 in October. The recorded rise in Victoria’s unemployment mirrored a rise in the provincial unemployment rate to five per cent from 4.7 per cent, as both the workforce and the number in jobs in British Columbia shrunk.
Victoria’s unemployment rate remains the lowest among the four CMAs in British Columbia, followed by Kelowna (3.8 per cent), Vancouver (four per cent) and Abbotsford-Mission (five per cent). Others parts of the province, however, are recording unemployment rates nearly double those of Victoria.
The Cariboo — the geographical centre of the provincial forestry and mining industry — recorded an unemployment rate of 6.8 per cent, some one per cent above the national rate of 5.9 per cent, as Canada lost some 71,000 jobs. The Northeast — whose economy aligns closely with Alberta’s oil patch — recorded an unemployment rate of six per cent.
Across the country, Ontario’s Brantford records the lowest unemployment rate with 3.1 per cent, followed by Quebec City with 3.3 per cent.
Canada’s unemployment rate of 5.9 per cent was the highest since August 2018, when it was six per cent. Concerns about softening employment across Canada happen against the backdrop of global trade tensions, causing a decline in the demand for Canadian goods, including various sources of energy and other raw materials.
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