Overview

Prince George (PG) is ending 2024 on a stable note as its unemployment rate holds firm at 5.5% for the second consecutive month, thanks to significant gains in the finance, insurance, real estate, and leasing sectors.

Analyst Insights

According to Vince Ferrao, an analyst with Stats Canada’s Labour Division, the employment landscape in PG has shown remarkable progress. "In December, there were 55,200 individuals employed, a marked improvement compared to 53,800 in the same period last year when the unemployment rate was recorded at 6.1%," Ferrao explained in an interview.

Provincial Comparison

When looking at the broader picture, British Columbia's unemployment rate for December found itself at 6.0%, a slight increase from November’s rate of 5.7%. Nevertheless, BC maintains a competitive position as it continues to register as the third-lowest unemployment rate among Canadian provinces, just behind Quebec, which stands at 5.6%, and Saskatchewan at 5.9%.

National Perspective

In a broader national context, Canada celebrated the addition of 91,000 jobs in December, which contributed to a marginal decrease in the national unemployment rate to 6.7%. This upturn suggests a recovering economy and increasing opportunities for Canadians nationwide, a trend that appears to be echoed in the local employment statistics of PG.

A Look at Provincial Trends