FORT ST. JOHN, British Columbia, Nov. 01, 2021 (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, Northeast B.C’s unemployment rate fell to 5.7 per cent in September 2021, down from 7.2 per cent in September 2020.
“While the decline in the region’s unemployment may look positive at first blush, it masks some concerning trends in our labour market,” said Ben Sander, FCPA, FCA, partner at Sander Rose Bone Grindle. “In fact, employment in Northeast B.C. is down over the past year and 3,100 residents left the labour force.”
As of September 2021, total employment in the region reached 36,200, a 6.2 per cent decrease compared to in September 2020 and an 8.1 per cent decline compared September 2019. Job losses have been concentrated amongst full-time positions which are down by 10.7 per cent compared to September 2019. Conversely, part-time positions are up by 8.8 per cent over that period.
Northeast B.C.’s labour participation rate – the portion of working-aged individuals actively seeking or employed – was 69.7 per cent in September 2021, a 6.4 percentage point decline compared to September 2019.
“The sustained decline in labour participation is troubling as our region has relied on its robust working age population to drive the economy,” continued Sander. “It has also become a growing challenge for businesses looking to hire, particularly in the service sector whose workforce declined significantly over the past year. Conversely, gains in the construction industry workforce helped offset some of the job losses.”
Northeast B.C.’s service sector employment fell by 14.5 per cent in September 2021 compared to September 2020. While employment in the hospitality industry was flat over the past year, it remained down by over a quarter (26.7 per cent) compared to September 2019.
A 16.5 per cent increase in goods sector employment helped offset the overall job loss in the region over the past year. This gain was due to a significant uptick in construction activity, with the industry’s workforce nearly doubling over the past year for a gain of 2,700 positions.
“It is clear from the region’s employment data that our economy has not fully recovered from the steep recession in 2020,” concluded Sander. “To expedite our recovery, it will be important to ensure that barriers to re-entering the labour market are minimized, such as through skills training and access to childcare. This will simultaneously help residents looking to get back in the labour market, and businesses that are trying to fill employment gaps.”
| Northeast B.C. | Sep-19 | Sep-20 | Sep-21 |
| Unemployment rate (%) | 6 | 7.2 | 5.7 |
| Employment (1,000s) | 39.2 | 38.6 | 36.2 |
| Full-time (1,000s) | 33.6 | 30.8 | 30 |
| Part-time (1,000s) | 5.7 | 7.8 | 6.2 |
| Participation rate (%) | 76.1 | 75.7 | 69.7 |
To learn more, see www.bccheckup.com. Data is from Statistics Canada Labour Force Survey, follows a moving three-month average and is not seasonally adjusted.
For more information:
Vivian Tse, Manager, Communications
604.488.2647
news@bccpa.ca
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.
