KELOWNA, British Columbia, 3 November 2020 (GLOBE NEWSWIRE) – According to BC Check-Up: Work Report through British Columbia Authorized Professional Accountants (CPABC), Thompson-Okanagan’s labor market has faced the same demanding situations as others in the province, which is experiencing significant job relief in industries.
“The summer months in the region are occupied by tourism, collection, structure and other activities that drive the economy of our region. But because of COVID-19, for the first time since August 2001, the Thompson-Okanagan region has noticed its summer the unemployment rate rose above ten percent,” said Karen Christiansen, FCPA, FCA, MNP LLP’s wife in Kelowna.
From the lowest point in May, the region has recovered tasks for 4 consecutive months in the summer and September, which helped reduce the unemployment rate to 9. 0%. Despite the gains, overall employment remained at 5. 3% in September 2020 compared to the last The goods and facilities sector suffered job losses, wasting 3,000 and 11,900 tasks, respectively. In the goods sector, losses were driven through the structures industry (-5,800 tasks), but offset through significant construction in the region’s agricultural sector. (2,700 tasks).
“Despite the continued progression and the call in development observed during the summer in the region’s genuine real estate market, the use of structure remains low until last year,” Christianen continued. “However, this is the traditionally higher level of structure activity observed in recent years. “
“Fortunately, it turns out that the worst economic damage is us, as advertising activity has recovered in recent months with the easing of containment measures and British Columbia residents coming into the domain for stays,” Christiansen said. The scenario remains more complicated than in previous years with the loss of foreign tourism and more inflexible industry requirements. As expected, the momentum slowed in September with the change of course. “
Gains in some service industries helped minimize losses. In particular, the “other” sector, which includes the non-public and domestic sector, recorded an accumulation of 7,200 posts. Health care and social assistance; finance, insurance and real estate; as well as the professional, clinical and technical industries also recorded task gains.
“2020 has been a difficult year for everyone. As we progress in the fall and tourism slows down, we will have other obstacles on the road to recovery,” Christiansen concluded. “It is vital that we continue with businesses and staff in the region so that we can succeed together over this pandemic. “
For more information, visit www. bccheckup. com. Statistics Canada Workforce Survey data. Monthly knowledge is adjusted to a three-month moving average and is not seasonally adjusted.
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