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B.C. Job Growth Rate Leads the Country, Unemployment Rate Nears Historic Lows

June 9, 2005

British Columbia created 17,700 new jobs in May while the unemployment rate fell to 5.7 per cent, the second-lowest monthly rate on record, Finance Minister Colin Hansen announced today.

"B.C. continues to enjoy the fastest rate of job growth in Canada, with 237,800 jobs created since December 2001," said Hansen. "This month’s job growth moves us closer to our great goal of creating more jobs per capita than anywhere else in Canada."

Since December 2001, 95 per cent of the jobs created in British Columbia are full-time positions.

With 17,700 jobs created in May, British Columbia accounted for half of all new jobs created in Canada. The unemployment rate fell to 5.7 per cent from 6.1 per cent in April, its lowest point since January 1981 and the second-lowest monthly rate since records began in 1976.

Full-time employment increased by 22,800 while the number of part-time positions fell by 5,200. Across Canada, employment increased by 35,400 jobs in May and the national unemployment rate held steady at 6.8 per cent.

"Our plan to rebuild the economy is working," said Hansen. "Increased inter-provincial migration, growing business confidence and strong investment mean more jobs for British Columbian families."

Over the past 12 months, employment in the province is up by 83,700, or 4.1 per cent. This compares to a national increase of 1.3 per cent over the same period. British Columbia’s booming construction sector created 32,000 new construction jobs, an increase of 23.9 per cent.
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Authorized By Jim Pipe, Financial Agent BC Liberal Party.
Tel: 604.606.6000, 1.800.567.2257