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HomeNewsKootenay unemployment rate falls to 3.8%

Kootenay unemployment rate falls to 3.8%

The jobless rate in our area is now below four per cent.

Statistics Canada says there were 83,300 people working in the Kootenays last month and 3,300 looking for work, for a rate of 3.8 per cent.

In the same month of 2021, there were 83,700 and 5,000 looking for a rate of 5.6 per cent.

The population is believed to have increased in that time from 138,300 to 140,700.

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Nationally, the unemployment rate fell to a new record low of 4.9 per cent in June as fewer people searched for work. It was the fourth straight month that a new record low was set.

However, employment fell by 43,000. It was the first time since January that fewer people were working. Stats Can says the loss was almost entirely due to a decrease among workers aged 55 and older.

They say a decline in the services-producing sector, particularly in retail trade, was offset by gains in manufacturing.

Self-employment declined, while the number of employees in both the public and the private sectors held steady, they added.

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