By Wendy Perch

Economy adds 953,000 jobs in June, unemployment rate falls

Jul 10, 2020 | 7:04 AM

PRINCE GEORGE -The national jobless rate fell from a record 13.7 percent in May to 12.3 percent last month, as the economy added nearly one-million jobs.

However, one local tax partner is not sold on the numbers. Stan Mitchell with KPMG said, “the unemployment/employment rates are driven by those who are actively seeking employment so when we’re on the EI system, people had to fill out their report cards but with the CERB it’s not so much like that. Stats Canada, with statistics as good as they are, they projected that that 12.3 percent unemployment would go to about 16 percent unemployment in the case of somebody looking for work.”

That was far more than economists had predicted, as businesses that were forced to shut down due to the COVID-19 pandemic, started re-opening.

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An across-the -board drop with BC’s jobless numbers, down to 13 per cent last month from 13.4 in May. The unemployment rate in Prince George also fell to 10.7 percent last month, from 11.8 in May.