Vancouver Island Real Estate Board

British Columbia Employment Trends

The unemployment rate in British Columbia was 5.3% as of October 2023, unchanged from the previous month. The unemployment rate stood 7.5% below the peak in June 2020 and is below the long-run average.

There were 7,600 more full-time jobs in October 2023 compared to a month earlier. A gain of 3,600 part-time positions led to an increase of 11,200 total jobs in October.

Full-time employment has recovered since reaching a bottom in August 2023 and now stands at a record high.

The number of full-time jobs in October was up from the previous month in natural resources, construction, transportation & warehousing, professional & scientific services, and education.

Full-time job losses in October occurred in agriculture, utilities, manufacturing, trade services, the financial sector, business & building services, healthcare, information & cultural services, accommodation & food services, and public administration.

* All figures are seasonally adjusted, 3-month moving averages. Seasonal adjustment removes normal seasonal fluctuations.

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