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Canadian Employment (June 2022) - July 8, 2022

Posted by Ron Neal on Friday, July 8th, 2022 at 6:55pm.

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May30-1
 

Canadian Employment (June 2022) - July 8, 2022

Canadian employment declined by 43,000 (-0.2 per cent) to 19.597 million in June, falling for the first time since January. As a result of fewer people looking for work, the Canadian unemployment rate also declined by 0.2 to 4.9 per cent, the lowest rate on record for a fourth consecutive month. Average hourly wages were up 5.2 per cent on a year-over-year basis, increasing from 3.9 per cent in May and 3.3 per cent in April. Wage gains remain below the inflation rate, however, which hit 7.7 per cent year-over-year in the most-recent data. Total hours worked rose 1.3 per cent in June, the first increase since March 2022.

Employment in BC grew by 6.1k to 2.747 million in June, while Metro Vancouver's employment fell by 6.5k month over month. The unemployment rate rose slightly in June to 4.6 per cent. Among the provinces, only Saskatchewan, Manitoba, and Quebec currently have lower unemployment rates. 

Link: https://mailchi.mp/bcrea/canadian-employment-june-2022

For more information, please contact:

Brendon Ogmundson
Chief Economist
604.742.2796
bogmundson@bcrea.bc.ca 
Ryan McLaughlin
Economist
604.366.6511
rmclaughlin@bcrea.bc.ca

BCREA is the professional association for more than 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province’s 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research, and standard forms to help REALTORS® provide value for their clients.

To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.

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The Neal Estate Team

The Neal Estate Team is your #1 source for all of your Victoria BC real estate needs. Get in touch with us online or by phone at (250) 386-8181 to speak with a Victoria real estate buying or selling expert today. With decades of experience as a top selling Victoria REALTOR® and ranked in top 1% globally with over 4,000 transactions and $1 Billion SOLD, Ron Neal & The Neal Estate Team have the industry experience and market knowledge to help you make smart and informed buying or selling decisions. 


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