Workforce Composition by Status

In the most recent month, Full-time Employment decreased by 400 jobs from last month and increased by 1,100 jobs compared to the same month last year.

Part-time Employment increased by 2,200 jobs from last month and increased by 13,300 jobs year-over-year.

The number of Unemployed individuals increased by 400 from the previous month and increased by 1,100 compared to last year.

Employment, Unemployment, and Participation Rate

The Employment Rate increased by 0.7 percentage points year-over-year.

The Unemployment Rate increased by 0.1 percentage points from a year ago.

The Participation Rate increased by 0.8 percentage points year-over-year.

Jobs Added or Lost by Month

Employment levels increased by 1,700 jobs in the most recent month and increased by 14,500 jobs compared to the same month last year.

In the most recent month, there was a net increased by 1,700 jobs. Over the last year, the labor market has seen a net increased by 14,500 jobs in total.

Top 3 Industries in Goods Sector

• Construction : 39,500 workers.
• Manufacturing : 20,700 workers.
• Forestry, fishing, mining, quarrying, oil and gas : 6,900 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 : 85,400 workers.
• Wholesale and retail trade : 66,100 workers.
• Public administration : 45,200 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

• Agriculture : Change of 2,100 workers ( decreased by 100 %).
• Manufacturing : Change of 2,000 workers ( increased by 10.7 %).
• Accommodation and food services : Change of 1,600 workers ( decreased by 4.72 %).
• Wholesale and retail trade : Change of 1,500 workers ( increased by 2.32 %).
• Public administration : Change of 1,100 workers ( increased by 2.49 %).

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

Top 5 Industries by Change from Same Month Last Year

• Accommodation and food services : Change of 6,300 workers ( increased by 24.23 %).
• Professional, scientific and technical services : Change of 5,100 workers ( increased by 14.33 %).
• Manufacturing : Change of 4,900 workers ( increased by 31.01 %).
• Health care and social assistance : Change of 4,900 workers ( increased by 6.09 %).
• Finance, insurance, real estate, rental and leasing : Change of 4,700 workers ( decreased by 19.58 %).
• Educational services : Change of 4,700 workers ( increased by 12.84 %).

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: Wholesale and retail trade, Professional, scientific and technical services, Educational services, Health care and social assistance, Public administration.

Employment Trends

Total employment in December 2024 was 240,350, showing a significant increase of 7,440. from December, employment levels gained 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 strong correlation (0.72) between regional and local employment levels indicates very similar employment patterns at both geographic levels. This suggests that local employment closely follows regional trends.

Employment Rate: Regional vs Local Patterns

Employment rates show a strong correlation (0.70) between regional and local levels. This indicates strong alignment in workforce participation, suggesting that labor market conditions affect both areas similarly.

Unemployment Rate: Regional vs Local Patterns

The unemployment rate correlation of 0.54 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 .