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B.C. Posts Greatest Job Growth in Canada for 2005

January 6, 2005

B.C. posted Canada's largest job growth in 2005, up 3.4 per cent from 2004, Economic Development Minister Colin Hansen said today.

“These figures prove what most British Columbians already know – our economy is booming and there are more opportunities than ever for people in this province,” said Hansen. “The improvements government has made since 2001 continue to bring benefits to British Columbia families through better employment prospects and economic stability.”

According to Statistics Canada, B.C.’s overall job growth was more than double the national average of 1.4 per cent in 2005 and well above the 1.8 per cent job growth seen in Alberta. In 2005, B.C.’s average unemployment rate was 5.9 per cent, compared with 7.2 per cent in 2004.

“Our unemployment average of 5.9 per cent for 2005 is the lowest on record for British Columbia,” Hansen said. “We’ve not only re-built the province’s economy, we’re sustaining it and ensuring a bright future for British Columbians. We committed to creating more jobs per capita than any region in Canada, and we’re clearly on track to fulfilling that commitment.”

Full-time employment increased by 4.1 per cent in 2005, while part-time employment increased by 2.9 per cent. B.C.’s job growth was led by strong gains in construction (+14.0 per cent), trade (+13.3 per cent) information, culture and recreation (+13.1 per cent) and educational services (10.9 per cent).

The Thompson-Okanagan region and Lower Mainland both posted record low unemployment for 2005. In the Thompson-Okanagan 15,400 new jobs were created in 2005, creating an all-time low unemployment rate of 5.4 per cent. The 2004 unemployment for the region was 6.7 per cent. In the Lower Mainland, 51,400 new jobs were created, which led to a 5.8 per cent unemployment rate - the lowest on record and down from 6.7 per cent in 2004. Vancouver Island also saw dramatic growth, creating 18,000 jobs, which drove the annual unemployment rate down to 6.4 per cent compared to 8.2 per cent in 2004.

Since December 2001, B.C.'s economy has generated 275,000 new jobs.
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