B.C. loses 20,000 jobs in September
British Columbia experienced a loss of 20,000 jobs in September, contributing to a broader national decline of 68,000 jobs across Canada. Economists attribute the downturn to a sluggish housing market and trade risks, though some remain optimistic about future industrial projects.
Why it matters
Significant regional job losses serve as a bellwether for the health of the Canadian economy and influence provincial political discourse.
The jobs lost in B.C. make up almost a third of the 68,000 jobs shed across Canada in September.
The hardest hit sectors were construction with 9,800 jobs lost, manufacturing with 8,100 jobs lost, and health care and social assistance with 6,800 jobs lost.
B.C.’s unemployment rate fell slightly by 0.1 percentage points, to 6.4 per cent.
Bryan Yu, chief economist at Central 1 Economics, said the job losses are indicative of a sluggish economy the province is seeing right now.
“Really it aligns with a soft economic environment when we think about some of the newer trade risks that we’ve seen, a pretty slow housing market.”
He said the U.S.-Canadian trade war can partly explain the loss of jobs in manufacturing, while job losses in construction are expected amidst a weak housing market.
Youth unemployment on the rise in B.C.: Statistics Canada
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