By Greg Fry with files from Canadian Press

Jobs

Year-over-year unemployment down substantially in Prince George

Jul 5, 2024 | 6:33 AM

PRINCE GEORGE — A big drop in the year-over-year unemployment rate in Prince George.

According to Statistics Canada, it was 4.4 per cent in June 2024, down from 8.8 per cent in June 2023.

Labour Analyst Vincent Ferrao says the biggest job increases came in wholesale and retail, healthcare and social services and accommodation and food while the biggest losses were in natural resources.

He attributes the drop in the unemployment rate to an increase in the region’s participation rate – which is the percentage of the population over the age of 15 that is working. That number has increased from 63.8 per cent to 68 per cent.

However it’s a different story nationally, where the unemployment rate has risen to its highest level in more than two years.

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The unemployment rate came in at 6.4 per cent for June, up from 6.2 per cent in May.

Statistics Canada says the June result was the highest reading for the unemployment rate since January 2022 when it hit 6.5 per cent.

The economy lost 1,400 jobs last month.