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B.C.’s unemployment drops, but opposition fears loss of private-sector jobs

Credit rating agency raises concerns about B.C.’s financial trajectory, but maintains AA credit rating.
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Jobs Minister Brenda Bailey, here seen announcing Canada’s first vehicle-to-grid pilot project in Surrey on Friday, Dec. 15, 2023, says new employment figures show that the provincial economy is holding steady. (Anna Burns/Surrey Now-Leader)

Jobs Minister Brenda Bailey says B.C.’s economy remains strong, but her political opposition continues to warn of declining employment in the private sector.

Figures released last week show the provincial unemployment rate has dropped by 0.2 per cent to 5.2 per cent in February.

“In the face of high interest rates and slower global economic growth, B.C. held steady in February with a growth of 5,900 jobs and a gain of 70,900 jobs since February 2023,” Bailey said, adding that the provincial unemployment rate remains one of Canada’s lowest, and below the national average of 5.8

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