B.C.’s unemployment rate slips lower than Alberta’s for first time in decades

British Columbia had the country’s strongest growth in the number of jobs year-over-year to September, according to Statistics Canada data released October 9.

In the 12 months to September, the province managed to add 46,700 jobs, with more than 57,200 full-time positions more than offsetting a loss of just over 10,500 part-time jobs.

September alone was a strong month for the province.

“British Columbia added 12,400 jobs in the month, lifting employment growth to 2.1% year-over-year – now the strongest in Canada,” said BMO Capital Markets senior economist and vice-president of economic research Robert Kavcic. “ Health care and manufacturing have had strong runs so far in 2015 [in B.C.].

“Notably, B.C.’s jobless rate now sits below Alberta’s for the first time in 21 years.”

Despite this strength, B.C.’s unemployment rate increased from 6.0% in August to 6.3%, due to a higher population and an increased participation rate, while Alberta’s unemployment rate grew from 6.0% to 6.5%. Alberta did add 12,300 jobs in September, however, also partially attributable to a higher participation rate.

Across Canada as a whole, 12,100 jobs were added; however, this change represents a 61,900 drop in full-time positions partially offset by growth of 74,000 part-time jobs. The country did add full-time positions over the past year, however.

“Full-time jobs are still up 112,000 since the start of the year, accounting for almost all of the net job gains so far in 2012,” said BMO senior economist Douglas Porter.

“Yet, with the part rate holding steady, the unemployment rate rose 1 tick to 7.1% up from 6.9% a year ago.

“That’s the first time since 2009 that the unemployment rate has been above year-ago levels – not good.”

The biggest year-over-year job losses, nationwide, were in educational services, with a drop of 51,300. Information, culture and recreation (up 32,500) and health care and social assistance (up 16,800) saw some of the country’s biggest increases.

The Canadian dollar fell relative to the U.S. greenback shortly after the data was announced, dipping almost half a cent to just over 77 cents U.S. As of press time, the dollar had rallied somewhat to 77.25 cents U.S.

ecrawford@biv.com

@EmmaHampelBIV