Population growth fuels employment increase, not economic conditions

FORT ST. JOHN, B.C. – The Chartered Professional Accountants of B.C. (CPABC) has reported a ‘softening’ of the provincial labour market since the start of 2024.

According to CPABC’s annual BC Check-Up labour force report, in Northeast B.C., the workforce was down 2,300 part-time workers or 31.1 per cent in September 2024 compared to September 2023. With full-time employment remaining steady, total employment in the region was down 6.4 per cent. 

The check-up identified that employment in the service sector was down 8.1 per cent due to ‘losses in the trade and hospitality industries.’ 

Throughout the province, approximately 50,000 workers have lost their jobs since April 2024, spiking the unemployment rate to 6 per cent in September 2024. 

Overall employment has increased around 0.3 per cent since September 2023. However, this was fueled by a 3.4 per cent increase in the working-age population rather than ‘strong economic conditions.’ Therefore, despite employment remaining relatively stable, unemployment rates have actually increased for men and women throughout the province. 

Younger British Columbians are struggling the most with this change in the labour market. Summer jobs for youth between the ages of 15 and 25 saw an unemployment rate increase of 3.7 percentage points, compared with only a 0.5 percentage point increase in people between the ages of 25 and 54. 

To see the full BC Check-Up, see below.