Ravi Kahlon, Minister of Jobs, Economic Recovery and Innovation, issued the following statement on the release of Statistics Canada’s Labor Force Survey for October 2022:
“As we continue to move forward to 2022, British Columbia created nearly 10,000 new jobs in the month of October. With steady growth and one of the lowest unemployment rates in Canada (4.2%), British Columbia continues to be a leader in Canada’s economic recovery, even as new global challenges emerge .
“Last month we saw significant growth in our manufacturing and construction sectors, which is a testament to the efforts of so many people to build the homes and infrastructure we need and help strengthen and grow our communities. supply chains so people can benefit from having their products made closer to home.
“The most encouraging news is the progress we are making in women’s employment. Today, British Columbia leads Canada in economic recovery for women with the highest female job recovery rate in the country, which reminds us how much our work on services custody is important to our collective success. Childcare is an economic engine. Starting next month, workers and business owners with young children will save up to $550 more on child care costs. This allows more women to join the workforce and means that families will have more money at the end of the month to help manage the rising costs associated with global inflation.
“As the Bank of Canada tackles rising inflation by raising interest rates, we know individuals and businesses are affected. Forecasters foresee global economic challenges ahead. British Columbia is not immune to global challenges, but no matter what lies ahead, we will continue to be there for people and businesses.
“We have put in place significant supports for businesses in British Columbia. These include:
- new tools for municipalities to provide property tax relief to small businesses;
- allowing restaurants to buy alcohol at wholesale prices, for savings of up to 20%;
- as the first province in Canada to make the food delivery fee cap permanent, providing cost certainty and support for restaurants and bars; and
- Reduce the small business tax rate and increase access to it by increasing the taxable capital limit from $15 million to $50 million.
“Our StrongerBC economic plan is about moving British Columbia forward by investing in people – our strategy since day one. Our work will continue because we know that an economy built for everyone is an economy built to succeed.
A Stronger British Columbia for All: British Columbia Economic Plan: https://strongerbc.gov.bc.ca/
Find out how the government is reducing child care costs for parents in British Columbia: https://news.gov.bc.ca/releases/2022ECC0076-001408