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BC unemployment rate at 5.2 per cent through August

British Columbia’s unemployment rate was the second lowest in Canada last month.

That from Statistics Canada’s Labour Force survey results, which say the province held a rate of 5.2 per cent, a 0.2 per cent decrease from July, and added 12-thousand jobs through the month.

BC Minister of Jobs Brenda Bailey says the province saw a boost in jobs in the education, transportation, and warehousing sectors.

Bailey says that among the economic challenges facing BCers are complications from the record wildfire season, slower global economic growth, and high interest rates.

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“We understand the stress and economic challenges faced by many people, communities and businesses, as B.C. experiences a record wildfire season, slower global economic growth and high interest rates,” says Bailey. “The Bank of Canada held its interest rate at 5.0% as there is growing evidence that higher interest rates are weighing on economic activity.”

She adds that housing starts were up 17 per cent this year, which is the highest in Canada.

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