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Jobless rate down as fewer seek work

1/11/2023

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It's a tough time to be an economist. The jump in inflation experienced last year spurred the Bank of Canada to spike interest rates with the goal of cooling the economy and perhaps triggering a recession. However, Statistics Canada shows that 104,000 jobs were added in December — much higher than most experts had forecast.
 
In Greater Victoria, the numbers also offer a mixed message as the unemployment rate dropped to 3.4% in December. However, the region's available labour force was down from November while overall population increased.
 
Perhaps we'll have more clarity when the consumer price index for December is announced on Jan. 17. The Bank of Canada will make an announcement on its interest rate on Jan. 25.
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  • Membership
    • Why Join?
    • Job Board
    • Member to Member Offers
    • Benefits, Discounts & Savings >
      • Chamber Store
    • Chamber Local
    • 1863 Impact Award
    • Questions & Answers
    • Join Now
    • Member Login
  • Member Directory
  • Events
    • Signature Events >
      • Annual Auction
      • Business Awards
      • Business Hall of Fame
      • Business Leaders Series
    • Event Calendar >
      • Chamber Events
      • Community Events
    • Event Photos 2023
    • Sponsorship
  • News & Advocacy
    • Weekly BizNews >
      • BizNews-articles
    • Advocacy / Wins for Business >
      • Advocacy Wins
      • Business Property Taxes
      • Advocacy Priorities
    • Chamber Chats
    • In the News >
      • Published Op-Eds
      • Media Releases
    • Non-market housing
    • Find and keep workers
    • Business Matters Magazine
    • COVID-19
  • About Us
    • Emerge >
      • Emerge Events
      • Emerge Mentorship
      • Emerge Connect
    • Staff Directory
    • Board & Governance >
      • Governors
      • By-Laws, Plans & Reports
      • Committees
    • Chamber History
    • Partners & Sponsors
    • About Victoria >
      • Starting a Business
      • Moving Here
      • Visiting Victoria, BC
    • Contact Us