B.C.’s labour market is starting the year on a high note, adding 23,400 jobs in January
That accounts for nearly a third of Canada’s total employment gains of 76,000 jobs last month, according to Statistics Canada released Friday.
The province’s unemployment rate edged up slightly (+0.1 percentage point) on a monthly basis to six per cent as more people entered the workforce. While unemployment across Canada dipped by 0.1 percentage point, B.C.’s unemployment rate is still notably lower than the nation’s 6.6 per cent.
B.C.’s tech sector led the way with 9,800 new jobs, while retail and transportation each added 6,000 jobs.
Full-time employment saw a significant boost, with nearly 20,000 full-time jobs added—marking one of the strongest gains in months after a period where growth was largely driven by part-time work.
Despite the overall positive outlook, B.C.’s health-care sector took a hit, losing 10,100 jobs.
"Canadian jobs blew the barn doors off expectations once again," Scotiabank economist Derek Holt said in a note.
“Canadian employers are either not listening to [U.S. President Donald Trump’s] threats and tantrums, or perhaps they are listening to him and choosing to add bodies to meet production needs rather than having the confidence to invest.”
But TD senior economist Leslie Preston cautioned in a note the imminent threat of tariffs is likely to temper business confidence and could put downward pressure on hiring in some sectors in the coming months.
