Unemployment has fallen faster in Metro Vancouver than in Canada’s other urban areas
November 21, 2021
At the peak of the COVID-19 pandemic’s economic fallout in 2020, the unemployment rate in Metro Vancouver reached nearly 14%.
Fast-forward to September 2021, just over a year after the dire unemployment peak — unemployment in Metro Vancouver decreased to 6.7%, according to Statistics Canada. While this is still above the unemployment rate of 4.5% in the months just before the pandemic’s sudden onset, it is below the average unemployment rate (7.9%) of the other five largest urban regions of Canada.
These are the findings compiled by the Real Estate Board of Greater Vancouver’s (REBGV) first-ever labour market report, given that the health and quality of local jobs is directly linked to housing market activity.
Unemployment has fallen faster in Metro Vancouver than it has in Canada’s other large urban areas, and there are growing opportunities for local workers.
Source: Daily Hive