Workforce Composition by Status

In the most recent month, Full-time Employment increased by 4,300 jobs from last month and decreased by 3,100 jobs compared to the same month last year.

Part-time Employment decreased by 2,100 jobs from last month and increased by 8,300 jobs year-over-year.

The number of Unemployed individuals increased by 500 from the previous month and increased by 3,200 compared to last year.

Employment, Unemployment, and Participation Rate

The Employment Rate decreased by 0.4 percentage points year-over-year.

The Unemployment Rate increased by 0.6 percentage points from a year ago.

The Participation Rate decreased by 0.1 percentage points year-over-year.

Jobs Added or Lost by Month

Employment levels increased by 2,200 jobs in the most recent month and increased by 5,200 jobs compared to the same month last year.

In the most recent month, there was a net increased by 2,200 jobs. Over the last year, the labor market has seen a net increased by 5,200 jobs in total.

Top 3 Industries in Goods Sector

• Construction : 40,700 workers.
• Manufacturing : 22,000 workers.
• Forestry, fishing, mining, quarrying, oil and gas : 7,500 workers.

The Goods sector is mainly driven by industries such as Construction, Manufacturing, and Agriculture, which together account for a substantial share of the workforce.

Top 3 Industries in Services Sector

• Health care and social assistance : 85,100 workers.
• Wholesale and retail trade : 67,100 workers.
• Public administration : 44,800 workers.

In the Services sector, Health Care, Retail, and Professional Services lead employment, representing a dominant portion of the workforce.

Top 5 Industries by Change from Previous Month

• Information, culture and recreation : Change of 1,600 workers ( decreased by 8.12 %).
• Professional, scientific and technical services : Change of 1,500 workers ( decreased by 3.78 %).
• Finance, insurance, real estate, rental and leasing : Change of 1,400 workers ( increased by 7.07 %).
• Business, building and other support services : Change of 1,400 workers ( increased by 8.54 %).
• Other services (except public administration) : Change of 1,400 workers ( decreased by 9.21 %).

These industries saw the largest month-over-month changes, indicating short-term trends.

Top 5 Industries by Change from Same Month Last Year

• Health care and social assistance : Change of 6,500 workers ( increased by 8.27 %).
• Information, culture and recreation : Change of 6,400 workers ( decreased by 26.12 %).
• Other services (except public administration) : Change of 5,800 workers ( decreased by 29.59 %).
• Manufacturing : Change of 4,600 workers ( increased by 26.44 %).
• Construction : Change of 4,300 workers ( increased by 11.81 %).

The year-over-year changes provide insights into longer-term shifts, highlighting industries that have grown or declined significantly.

Conclusion

The overall employment trend is positive, with strong growth in the past year. Key industries driving the trend are: Construction, Wholesale and retail trade, Educational services, Health care and social assistance, Public administration.

Employment Trends

Total employment in December 2024 was 240,350, showing a substantial increase of 7,440. against December, employment levels increased by 9,120, indicating growth.

Employment Rate Dynamics

The employment rate reached 63.2% in December 2024. This represents a rise of 1.8 percentage points from November (61.4%). Year-over-year, the rate improved by 0.4 percentage points from 62.8%.

Unemployment Rate Trends

The unemployment rate was 3.6% in December 2024, down 0.1 percentage points from November. Compared to December last year (3.8%), the rate has decreased by 0.2 percentage points.

Employment: Regional vs Local Patterns

The moderate correlation (0.54) between regional and local employment levels indicates some alignment in employment trends. This suggests that local employment partially reflects regional patterns.

Employment Rate: Regional vs Local Patterns

Employment rates show a moderate correlation (0.65) between regional and local levels. This shows moderate similarity in workforce engagement, suggesting that there are some shared labor market influences.

Unemployment Rate: Regional vs Local Patterns

The unemployment rate correlation of 0.47 shows a moderate relationship. This suggests some common unemployment drivers, indicating that there is partial alignment in labor market stress.

Victoria consists of the following communities: North Saanich, Sidney, Central Saanich, Saanich, Oak Bay, Victoria, Esquimalt, Colwood, Metchosin, Langford, View Royal, Highlands, Sooke, Juan de Fuca (Part 1), Cole Bay 3, Union Bay 4, East Saanich 2, South Saanich 1, Becher Bay 1, Esquimalt, New Songhees 1A, T'Sou-ke .