Minister’s statement on November Labour Force Survey results
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 November 2023:
“As we approach the end of 2023, the latest Labour Force Survey (LFS) from Statistics Canada shows that despite high interest rates and a slowing global economy, B.C.’s job growth remains steady with a gain of 9,000 jobs.
“So far this year, B.C. has added 56,300 jobs. B.C.’s unemployment rate is 5.3%, one of the lowest among provinces and below the national average (5.8%).
“This past month, B.C. had the highest private-sector job growth among provinces, with 25,500 new private-sector jobs. Self-employment decreased in November, although so far this year, B.C.’s self-employment is up by 17,100, ranking first among all provinces.
“B.C.‘s average wage is now the highest in Canada and we have had the highest wage growth in the country since 2017.
“In November, the manufacturing sector saw an increase of 18,800 jobs. This year, we doubled the B.C. Manufacturing Jobs Fund to $180 million and provided $29.2 million to support economic development in rural communities, diversify local economies, promote value-added innovation and create well-paying jobs. This includes new projects in the forestry sector, which has experienced both challenging market conditions and a severe wildfire season.
“B.C. also continues to be an economic leader in Canada. In November, Statistics Canada confirmed that since 2017 GDP growth in B.C. is 14.4%, the highest among large provinces, ahead of Ontario, Quebec and Alberta – putting us in a strong position to navigate the global economic challenges jurisdictions around the world are facing.
“Last month, our government announced a $1.05-billion partnership with E-One Moli and the governments of B.C. and Canada, which will bring lithium-ion battery cell production to Maple Ridge and create 450 high-quality permanent jobs. This project demonstrates the economic opportunities that our CleanBC climate plan is delivering. As the global economy transitions to clean energy, our CleanBC plan is ensuring that people in B.C. do not miss out on good, sustainable jobs for British Columbians.
“Also, November marked a significant milestone with the International Credentials Recognition Act signed into law. After years where internationally trained professionals were left on the sidelines, we’re taking action so professionals in 29 occupations from around the world will have their credentials recognized faster in B.C., making it easier for those in fields such as engineers, social workers, veterinarians, paramedics, early childhood educators, teachers, biologists, land surveyors, architects and more to join our workforce.
“As the global economy slows and small businesses continue to manage high interest rates, our government continues to call on the federal government to extend Canada Emergency Business Account (CEBA) loan repayments for struggling small businesses. Small businesses support B.C. jobs and thriving local communities, and represented one-third of B.C.’s GDP in 2022.
“Through the StrongerBC Economic Plan, we’re building a cleaner, sustainable, diversified economy that works for working people today and for the future, and we’re making sure people have the skills they need to keep our businesses and the province strong and moving forward.”
Learn More:
To find out more about the StrongerBC Economic Plan, visit:
https://strongerbc.gov.bc.ca/plan/
To find out about the E-One Moli announcement:
https://news.gov.bc.ca/releases/2023PREM0063-001776
To find out more about funding for wood-product manufactures through the BC Manufacturing Jobs Fund:
https://news.gov.bc.ca/releases/2023JEDI0071-001887
To find out more about B.C.’s advocacy for CEBA loan repayment extension:
https://news.gov.bc.ca/releases/2023PREM0072-001625