Regional unemployment spiked in December

The regional unemployment rate jumped nearly a full point to close out the year.

Statistics Canada said the Thompson-Okanagan’s unadjusted unemployment rate in December of 2024 was 5.1 per cent.

That figure was up from November’s rate of 4.3 per cent, and was also well above the 3.4 per cent rate recorded in December, 2023.

Meanwhile, the economic region that includes the Okanagan also saw the unadjusted employment rate recorded at 54.3 this past December, which was unchanged from November’s rate. It was slightly down from December of 2023 when the rate was 54.4 per cent.

StatsCan did not provide data for Vernon, but did have labour force figures for Kelowna.

The data collection agency said Kelowna’s adjusted unemployment rate in December was 5.0 per cent.

That was up slightly from the 4.7 per cent unemployment rate recorded in November.

However, Kelowna’s adjusted employment rate was recorded at 57 per cent, which was up from November’s rate of 55.7.

British Columbia as a whole also saw some labour force fluctuations in the last month of 2024.

StatsCan said the provincial adjusted unemployment rate was 6.0 per cent in December.

That was up slightly from the rate of 5.7 per cent in November.

British Columbia’s adjusted employment rate meanwhile was 60.1 per cent in December, up from the rate of 59.9 per cent the previous month.

“B.C. closes out 2024 on a positive note with a gain of 14,100 jobs in December, even as slow global economic growth and the threat of proposed U.S. tariffs continue to be felt across Canada,” Diana Gibson, Minister of Jobs, Economic Development and Innovation, said in a release.

“Our province continues to show strength with a gain of 4,300 private-sector jobs last month, building on additional private-sector job gains over the past few months. Our unemployment rate continues to be one of the lowest in the country, and below the national average of 6.7%.”

As Gibson indicated, B.C. had the third lowest unemployment rate of any province in December after Quebec (5.6 per cent), and Saskatchewan (5.9 per cent).

The Minister of Jobs added B.C. had the second highest youth employment growth of any province in December, as 8,700 jobs for youth were created across the province during the month in question.

Meanwhile, Canada as a whole saw some positive moves this past December.

StatsCan said the national adjusted unemployment rate was 6.7 per cent and the employment rate was 60.8 per cent in the final month of 2024.

Those were improved from November’s rates when unemployment was 6.8 per cent and the employment rate was 60.6 per cent.