Economy

Prince George unemployment rate sees slight rise in July

Prince George unemployment rate sees slight rise in July”

Wages for permanent employees - a figure watched closely by the Bank of Canada - rose by 4.5% year-over-year, the largest gain seen since January 2009.

The region's participation rate - which measures the number of people working or actively looking for work - has remained relatively stable at 67.7 per cent from 67.5 in July 2018. There are some signs July's numbers are the leading indicator of a slowdown.

Nationally, the Canadian unemployment rate went up from 5.5 per cent in June to 5.7 for July. The agency cautions, however, that the recent monthly readings have been small enough that they're within the margin of error and, therefore, statistically insignificant.

Since July 2018, employment in the country is up by 1.9 per cent or 353,000 largely full-time jobs, but across Canada employment in the natural resources sector is down 4.5 per cent since a year ago. The rate was 5.4 per cent in May, which was its lowest mark since 1976.

"July's labour force survey confirms that B.C. has a strong economy, despite uncertainty in the global economy and difficulties in certain sectors", he said.

Saskatchewan's economy lost 2,200 jobs in the month, StatCan reported, with the losses coming from full-time positions.

This continues a positive trend locally, as the unemployment rate in May was 5.9 per cent.

Alberta, Nova Scotia and New Brunswick posted notable declines in employment last month - and jobless rates moved higher in each of the provinces.



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