January 2024 Labour Force Survey Results

February 24, 2024

The January Labour Force Survey Results were released earlier this month and British Columbia has seen steady patterns among its labour statistics.

B.C. has gained 70,900 jobs since this time last year, including some of the strongest private-sector and self-employment growth in the country. Despite a slight month-over-month drop in employment (-2,600), our unemployment rate decreased to 5.4%, below the national average and the fourth-lowest unemployment rate among provinces.

B.C. also has the lowest youth unemployment rate of 7.4%, among all provinces. Youth employment increased in January, adding to the largest year-over-year increase in youth employment among all provinces at 23,800. B.C. is focused on creating opportunities for young people, and those of all ages, through skills training so people can access good jobs, through our Stronger BC Economic Plan.

In the face of a slower Canadian and global economy, January’s Canadian Federation of Independent Business barometer indicated positive signs for B.C. businesses. Long-term confidence was higher than the national average and the percentage of businesses planning to increase full-time staffing was up.

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