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HomeNewsKootenay unemployment rate stood at 5% in August

Kootenay unemployment rate stood at 5% in August

The Kootenay unemployment rate was down last month compared to July, but up compared to the same time last year.

Statistics Canada says 79,300 people were working in the region and 4,200 were looking for work, for a rate of five per cent.

At the same time in 2022, 82,200 people were working and 3,400 were job hunting for a rate of four per cent. The total labour force declined from 85,600 to 83,500 even as the population grew from 140,900 to 142,700.

In July, the local unemployment rate stood at 5.5 per cent.

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The national rate last month was 5.5 per cent, unchanged from July following increases in May, June, and July.

StatsCan says employment across Canada rose by 40,000 but was outpaced by population growth of 103,000.

Employment increased among men and women ages 25 to 54 and declined among women 55 and older. More people had jobs in professional, scientific and technical services and construction while declines were registered in educational services and manufacturing.

Year-over-year, average hourly wages rose 4.9 per cent in August, gaining $1.56 to $33.47.

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