By CKPG Today with files from Canadian Press

Jobs

Year-over-year unemployment rate drops in Prince George

May 10, 2024 | 9:27 AM

PRINCE GEORGE — The unemployment rate was 5.3 per cent in Prince George in April.

Statistics Canada says that’s down from 7.3 per cent in April of last year. The employment rate, or the number of working aged people employed, was 62.3 per cent in April, up from 58.9 per cent in April of last year.

Provincially, B.C.’s unemployment rate was 5 per cent, down from 5.1 per cent in April 2023.

Federally, the jobless rate held steady at 6.1 per cent in April. Statistics Canada notes that the economy created 90,000 jobs, which was the biggest monthly gain in more than a year. Most of the gains were in part-time work.

B-MO chief economist Douglas Porter says Friday’s report of a jobs increase in April will give the Bank of Canada some pause, since it reinforces the point the economy is clearly not rolling over.
Economists have been expecting the central bank to start cutting interest rates in June or July, but Friday’s report has them feeling less certain about a cut next month.

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