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Minister’s statement on July Labour Force Survey results

CANADA, August 4 - 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 July 2023:

“Earlier today, Statistics Canada’s Labour Force Survey reported that B.C.’s economy is holding steady this month with a 4,100 increase in full-time jobs and a 5,700 decrease in part-time jobs, reflecting the effects of the Bank of Canada’s interest rate hikes across the country. B.C. continues to add full-time jobs to its economy, with all of B.C.’s job growth so far this year in full-time jobs for a total 32,500 in 2023.

“While British Columbians and local economies are experiencing the stresses of global inflation, interest rate hikes, wildfire, droughts and supply chain disruptions, we’re continuing to support people and businesses now and for the future. Through our StrongerBC Economic Plan, we’re putting more money back into people’s pockets, investing in housing, health care and skills training for the jobs of tomorrow, tackling climate change and helping businesses and people transition to clean-energy solutions.

“As another sign of our strength, our unemployment rate remains low at 5.4.%, the fourth-lowest unemployment rate among provinces, which is a sign that people are working and businesses are seeing more applicants for their open positions.”

“Notably, we had more youth working this past month and jobs added in the natural resources and tech sectors. Women’s full-time employment remains strong this year with a total gain of 19,300 over the year, which demonstrates our government’s actions on child care support.

“July saw nearly 10,000 jobs created in science and technology. Vancouver has also seen impressive job growth for tech talent with the highest growth rate among 50 North American markets surveyed by CBRE, a commercial real estate firm. The growth rate was 69%, resulting in the creation of 45,200 tech jobs between 2018 and 2022.

“To support small businesses, the B.C. government recently introduced the Securing Small Business Rebate Program, a $10.5-million initiative to help small businesses cover the cost of prevention measures and repairs for crime and vandalism.

“In the face of global and national challenges, we will continue to take action in B.C. to support good jobs for people and help businesses succeed, benefiting all British Columbians.”

Learn More:

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