British Columbians have enjoyed the lowest unemployment rate in the country for 14 consecutive months while Kamloops is going in the same direction.
Stats Canada reports the province sitting at just 4.1 per cent unemployment in October, down from 4.2 per cent in September.
The chief economist for the Central One Credit Union Helmut Pastrick says the numbers are worth crowing about.
It’s certainly a reflection of a stronger labor market. Although we’ve had some slower growth in jobs this year, overall it’s been a good labour market and economy for the past handful of years,” said Pastrick.
In Kamloops, the jobless rate slipped to 5.4 per cent from 6.1 in September and is down from 11 per cent last year.
Pastrick says Kamloops is riding the economy coattails of the province.
“Certainly there are some spillover effects that have played out as well,” he noted. “The situation with the Canadian dollar being relatively low also is a plus for areas in B.C.”
Across the country, the unemployment rate is back to its four-decade low of 5.8 per cent after falling from September’s reading of 5.9 per cent.
Stats Canada reports job growth was essentially flat but the jobless rate declined as fewer people were looking for work.