Job numbers show cautious optimism with long road ahead: B.C. finance minister
Posted July 10, 2020 1:30 pm.
Last Updated July 10, 2020 1:38 pm.
VICTORIA — Statistics Canada’s labour force survey for June shows 118,000 people in B.C. found jobs and the unemployment rate fell slightly to 13 per cent.
Finance Minister Carol James says the latest numbers paint a picture of cautious optimism with a long road ahead on B.C.’s path to recovery during the COVID-19 pandemic.
She says job gains in May and June bring back about 40 per cent of the total number of jobs lost since February.
The greatest losses have been in the service sector, but James says that’s also where jobs are being added as accommodation and food services accounted for half of last month’s gains.
Despite positive signs, James says thousands of people and businesses are still struggling, and net job losses since the start of the pandemic stand at 235,000.
James says youth unemployment in particular stands out at 29.1 per cent, up slightly since May, while 45,000 young people did find jobs last month.
This report by The Canadian Press was first published July 10, 2020.
The Canadian Press
