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Minister’s statement on October Labour Force Survey results

November 3, 2023 at 8:49 am  BC, News, Politics, Provincial

Brenda Bailey, Minister of Jobs, Economic Development and Innovation, has issued the following statement on the release of Statistics Canada’s Labour Force Survey for October 2023:

“Earlier today, Statistics Canada’s Labour Force Survey (LFS) showed B.C.’s economic growth holding steady with a gain of 23,400 full-time jobs, offset by a decline of 27,500 part-time jobs in October. B.C. has the second-highest increase in full-time employment among provinces this month.

“So far this year, B.C. has added 47,300 jobs and our unemployment rate remained at 5.4%, the fourth-lowest among provinces. B.C.’s economy continues to show strength in the face of broader challenges, including high national interest rates and a slower global economy.

“In October, construction jobs increased by 10,200, which is good news for the housing sector. SkilledTradesBC is also reporting 15,075 people in British Columbia registered for apprenticeships this year, a 20% increase from last year. Apprentices play a critical role in the construction industry and at least 80,000 skilled-trades jobs are projected to open over the next decade.

“We also saw gains in the scientific and technical sector of 5,600 jobs, which confirm that our tech industry remains strong. According to Commercial Real Estate Services (CBRE), Vancouver, B.C. and Austin, Texas are the top cities for technology job growth in North America. Both cities saw a 26% increase in tech jobs over the past two years (2021 and 2022). Vancouver also attracted $402 million in venture capital in the first half of 2023 with 19% of it going to tech companies.

“Private-sector employment increased by 3,700 and self-employment increased by 2,900. So far this year, B.C.’s number of self-employed is up by 38,100, ranking first among all provinces. 

“In October, we announced new legislation to support internationally trained professionals to get their credentials recognized in British Columbia. The Province is making international-credential recognition faster and easier for 29 occupations. These workers will be able to expedite their entry into B.C.’s workforce and fill in-demand jobs that provide essential services for all residents.

“A recent $1-million grant to CanAssist to create personalized technologies that improve employment opportunities for people with disabilities will reduce employment barriers, ensuring job opportunities for all British Columbians.

“With new Community and Employer Partnerships (CEP) projects, more people in northern B.C. will get trained as certified community-support workers and community mental-health workers, creating employment opportunities for young people and increasing the support workers available in the region.

“Earlier this week, the Province took action to address the gender pay gap. B.C. employers are now required to include salary information in all publicly posted job listings. This helps people know they are being offered similar pay for the same work. The Pay Transparency Act is a positive step to creating fairer work environments.”

Learn More:

To find out more about the StrongerBC Economic Plan, visit:
https://strongerbc.gov.bc.ca/plan/

To learn about the Pay Transparency Act, visit:
https://www2.gov.bc.ca/gov/content/gender-equity/pay-transparency-laws-in-bc

To learn about apprenticeships, supports, and opportunities in the skilled trades, visit:
https://skilledtradesbc.ca/  

To learn about the fair credential legislation, visit:
https://www.gov.bc.ca/FairCredentials

To learn more about CanAssist and to apply online, visit:
https://www.canassist.ca/EN/main/programs/can-we-help-you/technology-for-employment.html

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