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Chilliwack & District Employment Trends

The unemployment rate in the lower mainland of British Columbia rose 0.7 percentage points in February 2009 to 5.9 per cent. This is the highest unemployment rate in three and a half years, but is still below the provincial rate.

On a seasonally adjusted* basis, 11,100 jobs were cut in the lower mainland area from the previous month – the largest monthly job loss in more than a decade. This is the third consecutive month in which more than 5,000 positions have been lost. Layoffs arose mainly from job cuts in the finance and support service sectors.

Unemployment has been rising since August 2008, increasing by 1.7 percentage points over the span of half a year. Since peaking in March 2008, employment levels have dropped 2.5 per cent, equivalent to more than 36,000 lost jobs. Almost 75 per cent of these job losses have occurred from December 2008 onward.

Compared to the previous month, additional jobs were created in February 2009 in oil and gas, retail trade, and public administration industries.

These monthly job gains were more than offset by layoffs in agriculture, manufacturing, construction, and wholesale trade, transportation and warehousing, finance, and support services sectors. Support services include the professional, scientific, educational, health, accommodation and food industries. View Graph @ http://creastats.crea.ca/chil/employment_trend.htm

* Seasonal adjustment removes normal seasonal fluctuations.

Posted: Friday, April 10, 2009 11:48 AM by Shannon Babcock Prec

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