Times Colonist: Greater Victoria's unemployment rate at highest level since 2001

July 10, 2020
Colin Wong


While the services sector has shown the largest number of job losses, the accommodation and food services sector represents 50 per cent of June’s job gains, she said.

James plans to deliver an update on B.C. finances on Tuesday, outlining what’s been spent to support individuals and businesses, and updating revenue and deficit forecasts.

Jock Finlayson, the Business Council of B.C.’s chief policy officer, said it’s encouraging to see job gains in the past two months — reflecting the reopening plan and a gradual return to business.

However, an overwhelming number of jobs gains are in part-time work, with “very few full-time jobs,” which reflects the underlying softness of the economy, he said.

“What we are most concerned about is we actually think there is going to be additional waves of layoffs coming in the province over the coming months,” said Finlayson, who expects an increase in insolvencies in the next two to three months. It’s a trend that has already been seen in the U.S., where large retailers have announced they are shutting down.

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