unemployment rate in BC

Unemployment Rate in BC

Best Personnel News

If you’ve been paying attention to the news lately, you might’ve seen that the national unemployment rate for Canada reached a historic low over the summer. Nationwide, the unemployment rate fell to a record 43-year low point of 5.4%. As of now, that rate has remained relatively stable, and the same goes for Vancouver and the rest of BC. Just this past May, a total of 16,800 jobs were added in BC alone. Of these 16,800 jobs, 12,400 were full-time positions, while just 4,400 were part-time. As we move forward to the fall, the economy has continued to grow. As of October 2019, unemployment in cities like Vancouver and Abbotsford remains at 5.0%, and in Victoria that rate has reached a low point of 4.1%. With the unemployment rate in major BC cities dropping with the rest of Canada, there are a number of implications for employers and job seekers alike to consider.

Hiring Difficulties

When the unemployment rate drops to numbers like the ones discussed above, it can be a sign that employers may have challenges when it comes to filling both part-time and full-time positions. Recruitment and retention of qualified employees can be difficult when there are enough jobs for workers to have their pick. In order to mitigate these hiring issues, it can be beneficial for employers to enlist the help of a Vancouver employment agency like Best Personnel. We take care of the majority of the leg work when it comes to identifying and narrowing down job candidates. We can also make use of our industry contacts to make sure positions are filled in a timely manner, so you can focus on running your business instead of worrying about finding employees and keeping the employees you already have.

Opportunities for Job Seekers

British Columbia as a province has managed to maintain the lowest unemployment rate in the entire country for about two years straight. While this means there are plenty of opportunities for work for the majority of BC workers, there are some groups that are still finding it difficult to get regular work. Youth workers in particular (between the ages 15 to 24) are still finding difficulties when it comes to finding lasting employment. While this can be blamed on the fact that many young people have a greater focus on education and extra-curricular activities, there are many who find it difficult to get a job once they have finished school. This can be blamed on a number of factors such as the competitiveness of the current job market (caused by the low unemployment rate), as well as a lack of experience in youth worker’s chosen industries.

With the nationwide unemployment rate for youth workers sitting at 10%, and the rate in BC remaining around 11.5%, it is understandable why some youth workers are experiencing a great deal of frustration on the job hunt. Despite these numbers, there are plenty of ways youth workers can take advantage of the current employment climate with the help of a recruiting agency like Best Personnel. Gaining experience and opening the door for other future opportunities is easy when workers choose to enlist the help of a temp agency. Our staff has all the resources and experience required when it comes to finding gainful employment for experienced and inexperienced workers alike. While the statistics show there are clearly more challenges out there for younger workers looking for employment, with help from Best Personnel, it will be easy for young workers to overcome these challenges on the road to better job opportunities in this competitive and opportunistic job market.