Abbotsford Unemployment Surges to 6.8% Amid Job Losses

BREAKING: Unemployment in Abbotsford has surged to 6.8%, marking its highest level in over a year. This alarming rise comes as the local job market faces a staggering loss of approximately 700 jobs in July 2023, continuing a troubling trend for the community.

The data, released today, reveals that this is the second consecutive month of declining employment for Abbotsford. Alarmingly, the city’s unemployment rate is now 0.2% higher than in June and significantly above the provincial average of 5.9%. While Abbotsford’s unemployment rate is not the highest in British Columbia, it falls behind cities like Surrey, Vancouver, and Burnaby in overall employment rates, with only 62.6% of the population employed.

The implications of these numbers are profound, especially for younger job seekers who are increasingly struggling to find work across Canada. Job and Economic Growth Minister Ravi Kahlon linked this rise to ongoing trade tensions with the U.S., underscoring the need for a more resilient local economy. Kahlon stated,

“B.C. will continue the work to defend workers and businesses against these threats, build a strong economy that’s less reliant on the U.S., and create jobs for people in British Columbia.”

Despite these setbacks, Kahlon pointed out a silver lining: British Columbia has gained 21,400 full-time jobs this year, the highest increase among provinces, reflecting a complex economic landscape. However, it’s crucial to note that not all regions of B.C. are feeling the same impact. The Mainland/Southwest region, which includes Metro Vancouver and the Fraser Valley, recorded the second-highest unemployment rate in the province, indicating a stark divide in economic health.

The construction industry bore the brunt of job losses, shedding 7,600 positions in July, while the agricultural sector experienced a remarkable 12.7% increase in employment, followed closely by the utility sector with a 12.4% rise.

As the province grapples with these economic challenges, the focus now shifts to the government’s response and further developments in local job markets. Residents are urged to stay informed about potential programs and initiatives aimed at reversing these troubling trends.

The situation remains fluid, and immediate updates will be essential as more data becomes available. Share this urgent news to keep others informed about the economic realities facing Abbotsford and beyond.