BCREA ECONOMICS NOW
Canadian Employment - October 6, 2017
Canadian employment increased by 10,000 jobs in September while the the national unemployment rate remained steady at 6.2 per cent. In the twelve months to August, employment in Canada is up 1.8 per cent, or 320,000 jobs. Somewhat tepid job growth along with slumping exports and flat real GDP in recent months means the Bank of Canada will very likely hold off on raising rates at its October meeting.
In BC, employment declined for a third consecutive month, falling by 6,700 jobs in September. Full-time employment was up by 5,000 jobs but an 11,600 decrease in part-time work more than offset those gains. Over the past twelve months, the level of employment in BC is up 3.6 per cent. Despite three months of falling employment, the provincial unemployment rate continued to slide lower due to declining participation in the labour market. The BC unemployment rate fell 0.2 points to 4.9 per cent, the lowest rate since September 2008.
For inquiries regarding statistical and economics-related news releases, please contact:
Cameron Muir: Chief Economist
Brendon Ogmundson: Economist
The Housing Market Update video podcast is produced monthly by the British Columbia Real Estate Association. Real estate boards, real estate associations and REALTORS® may reprint this content, provided that credit is given to BCREA by including the following statement: "Copyright British Columbia Real Estate Association. Reprinted with permission." BCREA makes no guarantees as to the accuracy or completeness of this information.
Copyright© British Columbia Real Estate Association
1420 – 701 Georgia Street West
PO Box 10123, Pacific Centre
Vancouver, BC V7Y 1C6
To subscribe to receive other BCREA publications such as this one, to unsubscribe, or to update your email address or current subscription list, click here.