Vancouver Island Real Estate Board

British Columbia Employment Trends

The unemployment rate in British Columbia was 4.5% as of February 2023, up 0.2% from the previous month. The unemployment rate stood 8.3% below the peak from June 2020 and is below the long-run average.

There were 11,300 more full-time jobs in February 2023 compared to a month earlier. A loss of 3,900 part-time positions led to an increase of 7,400 total jobs in February.

Full-time employment has recovered since bottoming out in October 2022 and now stands at a record high.

The number of full-time jobs in February was up from the previous month in agriculture, construction, manufacturing, the financial sector, healthcare, accommodation & food services, and public administration.

Full-time job losses in February occurred in natural resources, utilities, trade services, transportation & warehousing, professional & scientific services, business & building services, education, and information & cultural services.

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

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