The Greater Victoria region recorded an unemployment rate of 3.9 per cent in October 2018, while the whole of Vancouver Island recorded an unemployment rate of 4.5 per cent, according to B.C. Stats.
Greater Victoria’s unemployment rate is 0.2 per cent below the provincial rate of 4.1 per cent, the lowest in Canada. Provincial unemployment has dropped 0.8 per cent compared to October 2017.
In October 2018, the provincial economy added 12,100 part-time jobs, while the number of full-time jobs dropped by 13,300. Full-time employment jobs for persons aged 55 and over rose by 7,300, but dropped for those aged 25 to 54 (down 17,300) and 15 to 24 (down from 3,100).
Notably, the number of jobs in the public sector dropped by 7,400. Employment in the private sector held steady (down 200) while the number of self-employed individuals rose 6,500 compared to September. Looking at sectors, manufacturing, agriculture and construction all lost jobs, while forestry, fishing, mining, and oil and gas, along with utilities. The biggest growing sector though was the service sector, which produced 46,800 jobs since October 2017.
Quebec ranked behind British Columbia with the second-lowest unemployment rate, and Canada’s overall unemployment was 5.8 per cent, down 0.1 per cent. Overall, the unemployment was down from one year ago when it stood at 6.2 per cent.