Minister’s statement on August Labour Force Survey results

VICTORIA - Brenda Bailey, Minister of Jobs, Economic Development and Innovation, has issued the following statement on the release of Statistics Canada's Labour Force Survey for August 2024:

"As slow global economic growth continues to be felt across Canada, B.C. has continued to show strength with a gain of 9,800 private-sector jobs in August. B.C. has gained 34,000 private-sector jobs since this time last year, the third largest increase among provinces.

"B.C. has also gained 48,000 full-time jobs since August 2023, the largest increase in full-time jobs among provinces.

"B.C.'s unemployment rate is 5.8%, tied for the third-lowest unemployment rate among provinces and below the national average of 6.6%.

"Today's Labour Force Survey data shows growth of jobs in wholesale and retail trade by 6,800 and, compared to this time last year, we have gained 31,700 jobs in construction and 6,700 jobs in manufacturing.

"As our province, as well as the rest of Canada and the world, meets economic challenges, we are working to attract investment and boost our economy with well-paying job opportunities that support people to build good lives in B.C.

"Since 2017, we have had the highest GDP growth among large provinces of 16.9%, and in 2022 and 2023, attracted a record-setting $117 billion in capital investment, which is 73% more than in 2016 and 2017.

"LNG Canada, the largest private-sector investment in Canadian history, recently finished construction and is receiving its first shipment of natural gas in Kitimat. In the Cariboo, Artemis Gold's Blackwater Mine is more than 87% complete and preparing to complete its first gold pour before the end of the year.

"Through the BC Manufacturing Jobs Fund, we have secured more than $900 million in private-sector investment in manufacturing and forestry businesses throughout the province, protecting and creating more than 3,800 jobs. Helping local manufacturers increase competitiveness and capacity strengthens local economies and supports good jobs.

"For instance, projects in Chilliwack, Abbotsford and Agassiz, as well as a planning project in Mission, will receive as much as $6 million. These projects will see local manufacturers contribute to the Fraser Valley's economic development by enhancing local supply chains and contributing to the housing sector, while growing and diversifying their operations through new product lines and the use of new advanced equipment, helping to establish 108 new, sustainable local jobs.

"In 100 Mile House, Prince George and Fort St. John, local manufacturers in metal fabrication, solar-panel fabrication and concrete are expanding and diversifying their operations, and adding new product lines, while establishing 43 new, sustainable jobs.

"Our government has been following our industrial blueprint and working collaboratively across all sectors to seize opportunities, drive growth and create jobs in a clean economy that works better for people."

Learn More:

To learn more about manufacturing jobs coming to the Fraser Valley, visit:
https://news.gov.bc.ca/releases/2024JEDI0040-001407

To learn more about manufacturing jobs coming to the Cariboo and northeast, visit:
https://news.gov.bc.ca/releases/2024JEDI0041-001428

To learn more about the BC Manufacturing Jobs Fund, visit:
https://gov.bc.ca/ManufacturingJobsFund

To learn more about Clean and Competitive: A Blueprint for B.C.'s Industrial Future, visit:
https://news.gov.bc.ca/files/Clean_and_Competitive.pdf

To find out more about the Stronger BC Economic Plan, visit:
https://strongerbc.gov.bc.ca/plan/

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