BRUCE Ralston, Minister of Jobs, Trade and Technology, commenting on the Statistics Canada’s Labour Force Survey for July, said on Friday that the NDP government’s good economic stewardship, paired with investments in people, has resulted in BC leading the country with the lowest unemployment rate for two full years.
He added: “July’s Labour Force Survey confirms that British Columbia has a strong economy, despite uncertainty in the global economy and difficulties in certain sectors. At 4.4% in July, B.C.’s unemployment rate is the lowest amongst all other provinces for 24 months in a row. This is the longest stretch of lowest continued unemployment among provinces in more than a decade.
“Additionally, B.C. now has the third-highest hourly wage in the country at $27.59/hour, up nearly a dollar from a year ago.
“Our record investments in childcare, housing and infrastructure, while cutting MSP premiums and providing the biggest middle-class tax cut in a generation, are building a strong economy that works for everyday people.
“Further, B.C. is the only province that earned the AAA credit rating from all three international credit rating agencies this year. They looked to our stable results, diversified economy and fiscal management to make their conclusion. Bank economists have also projected that B.C.’s economy will continue to lead the country over the next two years.”
However, Ralston also noted: “We recognize that not all sectors are feeling the benefits of B.C.’s strong economy, with challenges being faced by the forest industry, coupled with increasing uncertainty in global economies and trade markets. We are committed to supporting affected workers and their communities and ensuring they get the assistance they need.”