A correction was made to the chart, "Monthly Change in Employment by Industry", which should read "December".Canadian employment lost 63k jobs in December (-0.3%, m/m), representing the first decline since April 2020. This comes on the heels of many provinces reinstating public health measures that closed recreational facilities and in-person dining services. The decline was led by part-time employment, specifically among youth aged 15 to 24 and those 55 and above. Employment declined in all provinces except for BC. The national unemployment rate ticked up by 0.1 percentage points to 8.6%, which is still a fall from the record high of 13.7% in May 2020. Compared to the same month last year, Canadian employment was down by 3.0% (-572k). In BC, employment grew by 3.8k (0.2%, m/m) in December, following a gain of 24k in the previous month. The province continues to be at 99% of its pre-COVID February employment level. The unemployment rate ticked up by 0.1 percentage points to 7.2%, the first increase since the record high of 13.4% in May 2020. Meanwhile, in Vancouver, employment decreased by 1.1k (-0.1%, m/m). Compared to one year ago, employment in BC was down by 1.4% (-37K) jobs. Despite rising cases of COVID-19 across the country, employment in BC bucked the trend and grew in December. Industries that saw the largest increases were construction and manufacturing, while like the rest of the country, employment fell in accommodation and food services. On the whole, we can expect national employment growth to come to a standstill as caseloads and hospitalizations increase, leaving many provinces to extend restrictions and partial lockdowns. 

Link: https://mailchi.mp/bcrea/canadian-employment-dec-january-8-1784645

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BCREA is the professional association for more than 23,000 REALTORS in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research, and standard forms to help REALTORS provide value for their clients.To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.