The number of people holding down jobs in Prince George continued to decline in March, following a loss of 4,500 jobs between January and February.
As of March, 49,700 people held jobs in the city, down by 100 from February, according to Statistics Canada data released on Thursday.
The city’s unemployment rate rebounded from 6.6 per cent in February to 6.2 per cent in March, as workers opted out of the workforce. The labour force participation rate – the percentage of people working or actively seeking work – dropped from 63.9 per cent in February to 63.5 per cent in March.
The number of job seekers in the city dropped from 3,500 in February to 3,300 in March.
By comparison, in March 2022 the city’s unemployment rate stood at 3.8 per cent, 53,600 people held jobs, 2,100 people were looking for work at the city’s labour force participation rate was 67.6 per cent.
Prince George’s unemployment rate was higher in March this year than the B.C. (4.5 per cent) and national (five per cent) averages.
"With the first signs of spring and following steady overall job increases this year, B.C. job numbers in March remained consistent, despite the ripple effects of global economic uncertainty that are being felt around the world,” B.C. Jobs Minister Brenda Bailey said, in a statement released Friday. "B.C continues to remain resilient with the second-lowest unemployment rate among provinces at 4.5 (per cent). So far in 2023, B.C. has added 14,300 jobs, 5,300 of those in the private sector. With three gold mines expected to begin production by the end of 2024, it's clear that B.C. is a resource destination of choice for investors concerned about environmental, social and governance (ESG) outcomes.”
