Record low unemployment in Canada was reflected in Greater Victoria as the regional rate dropped to 4.1% in March. That's down from 4.2% a month earlier.
“We’ve had one of the lowest unemployment rates for years, which is a mixed blessing for our regional economy,” Chamber CEO Bruce Williams told the Times Colonist. “We are fundamentally sound and many sectors have rebounded from the pandemic, but the challenge facing all employers, including our members, is finding and keeping the right staff.”
Statistics Canada figures show 229,800 people in Greater Victoria were available to work in March, up 4.3% from March 2021.
"That’s welcome news as people need jobs and employers need people to achieve their economic potential. But people also need homes and our region’s population is growing faster than we’re able to add new homes," Williams said. "The Labour Market numbers really highlight how urgently we need a concerted effort by all levels of government to increase housing supply.”