SMITHERS, British Columbia, Nov. 03, 2022 (GLOBE NEWSWIRE) -- According to the BC Check-Up: Work, an annual report by the Chartered Professional Accountants of British Columbia (CPABC) on employment trends across the province, Northwest B.C.’s unemployment rate fell to 5.3 per cent in September 2022, down from 7.9 per cent in September 2021.
“Our region’s unemployment fell as 600 jobs were added over the past year,” said Jeanne MacNeil, CPA, CA, partner at Edmison Mehr Chartered Professional Accountants. “However, our workforce remains smaller than in 2019 and the number of job searchers continued to decline.”
As of September 2022, total employment in the region reached 42,700, a 1.4 per cent increase compared to September 2021. This growth was all full-time positions, while the number of part-time positions decreased. Compared to September 2019, Northwest B.C.’s employment remained down by 5.3 per cent while the population grew by 0.9 per cent.
Northwest B.C.’s labour participation rate – the portion of working-aged individuals actively seeking or employed – was 64.6 per cent in September 2022, a 4.1 percentage point decline compared to September 2019. Overall, 2,500 residents left the region’s labour force over that period.
“Prior to the pandemic, our region had a robust labour market with a high employment rate and low unemployment,” continued MacNeil. “However, our labour recovery over the past two years has been bumpy, with a large decline persisting in the service sector.”
Northwest B.C.’s service sector employment fell by 6.5 per cent in September 2022 compared to September 2021. Job losses were concentrated in the hospitality (-1,700 jobs) and wholesale/retail trade (-1,000) industries. Overall, service sector employment remained down by 9.4 per cent from September 2019.
A 27.0 per cent increase in goods sector employment helped the region see a net gain in jobs over the past year. The increase was due to very strong employment gains in the construction (+2,300) and natural resource (+1,100) industries. Compared to September 2019, goods sector employment was up by 5.8 per cent.
“While Northwest B.C. has seen employment growth over the past year, we have yet to return to pre-pandemic levels,” concluded MacNeil. “Strength from our goods sector and major projects underway have been a major boost to our region, but many of our service providers have struggled to find workers and face a growing shortage of labour. Going forward, it is critical to reduce barriers for those looking to re-enter the workforce, particularly for industries facing the largest labour scarcity.”
| Northwest B.C. | Sep-19 | Sep-21 | Sep-22 |
| Unemployment (%) | 5.1 | 7.9 | 5.3 |
| Employment | 45,100 | 42,100 | 42,700 |
| Full-time | 35,900 | 34,100 | 37,000 |
| Part-time | 9,200 | 7,900 | 5,700 |
| Participation rate (%) | 68.7 | 66 | 64.6 |
Northwest B.C. encompasses the North Coast & Nechako. Learn more about the BC Check-Up: Work report. Data is from Statistics Canada Labour Force Survey, follows a moving three-month average and is not seasonally adjusted.
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About CPA British Columbia
The Chartered Professional Accountants of British Columbia (CPABC) is the training, governing, and regulatory body for over 38,000 CPA members and 6,000 CPA students. CPABC carries out its primary mission to protect the public by enforcing the highest professional and ethical standards and contributing to the advancement of public policy. CPAs are recognized internationally for bringing superior financial expertise, strategic thinking, business insight, and leadership to organizations.
