Greater Victoria’s unemployment rate is one of the lowest anywhere in Canada, new figures confirm.
According to Statistics Canada, the Victoria Census Metropolitan Area (CMA) recorded an unemployment rate of 3.2, the same as in September 2019 and tied with Brantford, ON. Quebec City recorded the lowest rate at three per cent, unchanged from the previous.
The three other CMAs in British Columbia — Vancouver, Abbotsford-Mission and Kelowna — recorded respective rates of five, 4.9 and 4.1 per cent in October, with the provincial rate around 4.7 per cent. The national rate was 5.5 per cent, unchanged from the previous month.
Looking at specific age groups, individuals aged 15 to 24 had the toughest time finding a job, with a national unemployment rate of 11.3 per cent, down 0.6 per cent, as fewer of them searched for work, likely an outcome of many of them returning to school.
If the lower end of the age spectrum is struggling to find work (or choosing to concentrate on other forms of career advancement such attending school and post-secondary), Canadians aged 55 and over are benefiting from the labour market. Their national unemployment stood at 4.7 per cent with the long-term trend pointing towards a ‘greying’ of the workplace, on par with large demographic and sociological trends.
Like us on Facebook and follow @wolfgang_depner