Vancouver Island Real Estate Board

British Columbia Employment Trends

The unemployment rate in British Columbia was 4.3% as of December 2022, unchanged from the previous month. The unemployment rate stood 8.3% below the peak in June 2020 and is below the long-run average.

There were 1,700 more full-time jobs in December 2022 compared to a month earlier. A gain of 2,500 part-time positions led to an increase of 4,200 total jobs in December.

Full-time employment was still down 1,200 jobs from the peak in July 2022 but stood 9,500 jobs above the trough in October 2022.

The number of full-time jobs in December was up from the previous month in the financial sector, professional & scientific services, accommodation & food services, and public administration.

Full-time job losses in December occurred in agriculture, construction, trade services, business & building services, healthcare, and information & cultural services.

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

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