James sees ‘glimmers of increased confidence’ as jobless rate hits 13.4 per cent

British Columbia’s jobless rate continues to climb upwards, hitting 13.4 per cent last month, but there are signs of building confidence.

Finance Minister Carole James says Statistics Canada labour data for May show despite 353,200 lost jobs in B.C. since the pandemic forced a shutdown, the province created 43,300 jobs last month.

James says the increase reflects some businesses bringing back employees in the preparation to reopen as some health restrictions were eased.

But the labour market continues to be volatile, and James says many remain out of work, especially young people where the jobless rate is 28.9 per cent.

The minister says regular meetings are underway between business and government leaders to make recovery plans for B.C.’s economy.

Statistics Canada reported Canada’s unemployment rate in May rose to 13.7 per cent, the highest level in more than four decades.