May employment statistics represent B次元官网网址渁 glimmer of hopeB次元官网网址� after B.C.B次元官网网址檚 economy lost 353,000 jobs in the coronavirus pandemic restrictions of March and April, Finance Minister Carole James says.

The latest Statistics Canada labour force survey reports an additional 43,300 jobs for May. B.C.B次元官网网址檚 official unemployment rate actually rose almost two per cent to 13.4 per cent, but thatB次元官网网址檚 a result of more people returning to look for work as the job market started to show signs of reopening.

B次元官网网址淭hese numbers came before the restart had actually begun,B次元官网网址� James said June 5. B次元官网网址淚 think we see some glimmers of hope in this trend when you see the number of jobs that actually were created. It doesnB次元官网网址檛 touch the huge loss of jobs over this time period, but I think it does show that youB次元官网网址檙e starting to see some confidence.B次元官网网址�

Jock Finlayson, chief policy officer of the Business Council of B.C., said he was pleasantly surprised to see a slight improvement rather than further decline of B.C.B次元官网网址檚 job market.

B次元官网网址淚 think April was the bottom of the labour market apocalypse,B次元官网网址� Finlayson said in an interview. B次元官网网址淎nd weB次元官网网址檙e now back on the road to what I think will be a fairly lengthy and bumpy recovery.B次元官网网址�

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James said the unemployment rate among young people was 20.89 per cent for the May report, reflecting the categories of accommodation, food services, wholesale and retail that account for 46 per cent of total jobs lost in B.C.

Finlayson said the job market for young people is likely to remain difficult, in an unprecedented recession that has hit the service economy much harder than the goods-producing sector.

B次元官网网址淭hatB次元官网网址檚 one of the things weB次元官网网址檙e worried about, how long is it going to take young adults to get re-employed, recognizing that there will be more people coming out of school into the labour force as well,B次元官网网址� Finlayson said. B次元官网网址淭heyB次元官网网址檙e going to be out there bumping up against their slightly older brothers and sisters who have been rendered unemployed as a consequence of the pandemic and the closure of all these industries.B次元官网网址�

Another factor is the Canada Emergency Response Benefit (CERB), which arrived much faster than federal business wage subsidies. Finlayson said itB次元官网网址檚 an issue in getting people back into the job market, and the program needs to be phased out by late summer and fall.

B次元官网网址淪ome people said extend it to the end of the year,B次元官网网址� Finlayson said. B次元官网网址淚 think that would potentially have some quite negative unintended consequences.

B次元官网网址淭hereB次元官网网址檚 a lot of research that shows the most important indicator of long-term economic and social well-being is employment. TheyB次元官网网址檙e better to be employed building their skills and their experience, and contributing to the economy.B次元官网网址�

tfletcher@blackpress.ca
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