CRANBROOK, 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, the Kootenays’ unemployment rate fell to 6.5 per cent in September 2021, down from 9.1 per cent in September 2020.
“While our region’s unemployment rate has come down over the past year, that headline number masks some troubling trends,” said Mike Calder, CPA, CA, partner at BDO Canada in Cranbrook. “The decline was due to a large number of residents ceasing their job search and leaving the labour force. This has added to the challenge employers are facing in finding workers.”
The Kootenays’ labour participation rate – the portion of working-aged individuals actively seeking or employed – fell to 61.2 per cent in September 2021, a 3.6 percentage point decline compared to September 2020. As a result, the number of unemployed individuals (those seeking but unable to find work) fell by nearly a third over the past year.
As of September 2021, total employment in the region reached 79,500, a 2.0 per cent decrease compared to September 2020. However, the total workforce in the Kootenays is actually 2,500 larger than in September 2019.
“The decline in employment over the past year is due to the region’s employment levels remaining relatively robust despite the pandemic last summer. The fact the region’s employment is above pre-pandemic levels is a good signal,” continued Calder. “Another sign of rising economic activity is that full-time positions have been growing, driven by goods sector activity.”
Job losses over the past year were concentrated in part-time positions, down by over a quarter. Conversely, full-time positions in the Kootenays increased by 6.4 per cent in September 2021 compared to September 2020.
Goods sector employment reached 25,800 in September 2021, an increase of 14.2 per cent compared to September 2020. This job gain was due to the construction industry, whose workforce swelled to 9,600 workers, a 159.5 per cent increase over the period.
Service sector employment fell to 53,700 in September 2021, a decline of 8.2 per cent compared to last year. This was primarily due to a decline in employment in hospitality (-1,300 jobs) and public administration (-1,900 jobs).
“It appears many former part-time workers and job seekers have left the labour force,” concluded Calder. “This is also reflected by the many hospitality businesses that have struggled to find workers in the Kootenays. To enhance our economic recovery, it will be important to minimize barriers to entering the labour force.”
| Kootenay | Sep-19 | Sep-20 | Sep-21 |
| Unemployment rate (%) | 6.5 | 9.1 | 6.5 |
| Employment (1,000s) | 77 | 81.1 | 79.5 |
| Full-time (1,000s) | 60.3 | 61.1 | 65 |
| Part-time (1,000s) | 16.7 | 19.9 | 14.5 |
| Participation rate (%) | 60.3 | 64.8 | 61.2 |
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.
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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.
