Local unemployment rate down in December

The economic region that includes Vernon and the North Okanagan saw the local unemployment rate decline on a monthly basis.

Statistics Canada reports the unadjusted unemployment rate for the Thompson-Okanagan was 4.3 per cent in December.

That rate was down from the 4.5 per cent in November, and was also a decline since December 2021 when the rate was recorded at 4.6 per cent.

The local unadjusted employment rate in December was 59.3 per cent, up from the 59.1 per cent the month before and up from the 59 per cent rate in December of 2021.

StatsCan did not provide data specific for Vernon, but did report the adjusted unemployment rate for Kelowna was 4.8 per cent and the employment rate was 56.6 per cent.

Kelowna had an unemployment rate of 4.9 per cent and an employment rate of 56.2 per cent in November.

British Columbia recorded an adjusted unemployment rate of 4.2 per cent in December, down from the 4.4. per cent rate in November.

The provincial employment rate rose to 62.2 per cent in December from November’s figure of 61.8 per cent.

“As British Columbians navigated new global challenges throughout 2022, last year’s job numbers continue to demonstrate that we’re stronger when we work together to tackle big challenges – from the economic effects of the pandemic, to extreme weather events and global inflation,” Brenda Bailey, B.C.’s Minister of Jobs, Economic Development and Innovation, said.

“B.C. defied the odds and added 62,900 new jobs in 2022. Our unemployment rate remains near all-time historic lows at 4.2 per cent; one of the lowest in the country.”

Bailey added 75 per cent of 2022’s job growth was driven by women’s employment.

Nationally, the adjusted unemployment rate was 5 per cent in December, down 0.1 per cent from the month prior. StatsCan noted the rate was just above the record low of 4.9 per cent in June and July.

Canada’s employment rate was 61.8 per cent, up from the 61.5 per cent figure from November.

StatsCan reports the rise corresponded with employment climbing by 104,000 in December, with approximately 69,000 of those jobs being done by young Canadians between the ages of 15 and 24.