Despite a slight uptick in the unemployment rate in the Central Okanagan, 1,800 more people went to work in August than did so in July.
According to monthly figures released Friday by Statistics Canada, 109,000 people were gainfully employed last month.
While the number of people employed increased, so too did the overall labour force, which went up by 2,100 in August.
That resulted in a slight increase in the unemployment rate from 5.6 per cent in July to 5.7 per cent last month.
Among census metropolitan regions of the country Kelowna, and the Central Okanagan has the eighth lowest unemployment rate.
In B.C., only Victoria has a lower rate of unemployment at 4.4 per cent.
The unemployment rate within the Thompson-Okanagan region also rose in August to 5.4 per cent from 5.1 in July.
Provincially, the unemployment rate fell from 6.6 to 6.2 per cent while for the third month in a row, B.C. was the only province employment metrics better than pre-pandemic levels.
The national unemployment rate also fell from 7.5 per cent to 7.1.
Despite the positive numbers, CIBC senior economist Royce Mendes says not all is rosy, indicating the participation rate also fell in August.
Statistics Canada says the unemployment rate would have been 9.1 per cent in August, down from 9.5 per cent in July, had it included in calculations Canadians who wanted to work but didn't search for a job.
"The economy is still a long way from being fully healed," Mendes writes in a note.
"While employment according to the labour force survey is only 0.8 per cent below its pre-Covid level, other indicators of the economy suggest more weakness. The country is also now in the midst of a fourth wave which will restrain growth this fall."
https://news.google.com/__i/rss/rd/articles/CBMic2h0dHBzOi8vd3d3LmNhc3RhbmV0Lm5ldC9uZXdzL0tlbG93bmEvMzQ1Mzc0L01vcmUtcGVvcGxlLXdvcmtpbmctaW4tQ2VudHJhbC1Pa2FuYWdhbi1idXQtdW5lbXBsb3ltZW50LXJhdGUtdGlja3MtdXDSAQA?oc=5
2021-09-10 17:40:00Z
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