Unemployment rates up in Canada and BC as national economy loses 33,000 jobs

Canada’s unemployment rate increased slightly in March as the economy lost 33,000 jobs.

Statistics Canada estimated the rate was 6.7 per cent last month, up from 6.6 per cent in February.

There was also a 0.1 percentage point increase in British Columbia, with the rate up to 6.1 per cent compared with February’s six per cent.

Worst-hit across Canada were men aged 55 and older, according to StatCan. The agency said employment fell by 21,000 among that cohort, while “there was little change for other major demographic groups.”

Employment fell in wholesale, retail and information, culture and recreation, while it increased slightly in repair services and utilities.

In specific BC cities, meanwhile, StatCan reported the following unemployment rates:

• Kelowna – 5.8 per cent (up from 5.3)

• Kamloops – 5.6 per cent (up from 4.8)

• Chilliwack – 6.6 per cent (down from seven per cent)

• Abbotsford-Mission – 6.1 per cent (up from 5.5)

• Vancouver – 6.7 per cent (down from 6.8)

• Victoria – 3.6 per cent (up from 3.5)

• Nanaimo – six per cent (unchanged)

The disappointing employment news today comes after months of economic uncertainty caused by US President Donald Trump, who has targeted Canadian goods with import taxes.

On Thursday, Prime Minister Mark Carney announced that Canada will retaliate against one of those taxes with a matching tax on US goods.

The consequences of the most recent developments in the Canada-US trading relationship will not show up in statistics until StatCan’s May report, however.