Workforce Composition by Status

In the most recent month, Full-time Employment decreased by 1,800 jobs from last month and decreased by 5,800 jobs compared to the same month last year.

Part-time Employment decreased by 2,200 jobs from last month and increased by 11,500 jobs year-over-year.

The number of Unemployed individuals increased by 2,500 from the previous month and increased by 1,700 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 0.2 percentage points from a year ago.

The Participation Rate decreased by 0.2 percentage points year-over-year.

Jobs Added or Lost by Month

Employment levels decreased by 4,000 jobs in the most recent month and increased by 5,600 jobs compared to the same month last year.

In the most recent month, there was a net decreased by 4,000 jobs. Over the last year, the labor market has seen a net increased by 5,600 jobs in total.

Top 3 Industries in Goods Sector

• Construction : 40,100 workers.
• Manufacturing : 21,300 workers.
• Forestry, fishing, mining, quarrying, oil and gas : 6,700 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 : 85,200 workers.
• Wholesale and retail trade : 66,500 workers.
• Public administration : 44,400 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 2,900 workers ( decreased by 12.83 %).
• Accommodation and food services : Change of 1,300 workers ( increased by 4.02 %).
• Professional, scientific and technical services : Change of 1,000 workers ( decreased by 2.46 %).
• Other services (except public administration) : Change of 900 workers ( decreased by 5.59 %).
• Transportation and warehousing : Change of 900 workers ( decreased by 5.77 %).
• Business, building and other support services : Change of 900 workers ( increased by 5.81 %).

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 6,900 workers ( increased by 25.84 %).
• Other services (except public administration) : Change of 5,300 workers ( decreased by 25.85 %).
• Manufacturing : Change of 5,100 workers ( increased by 31.48 %).
• Health care and social assistance : Change of 4,400 workers ( increased by 5.45 %).
• Educational services : Change of 4,300 workers ( increased by 11.85 %).

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 significant increase of 7,440. against December, employment levels grew 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 (0.61) 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 (0.66) 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 0.57 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 .