Unemployment drops in B.C., Kamloops as B.C. jobs minister Kahlon credits economic diversity

“We’ve got natural resources, we’ve got critical minerals and energy projects coming online. We’ve got a lot of tourism and we’ve got manufacturing, AI, quantum, tech companies are coming out of no where. We do have a very balanced economy and so if one sector gets hit, the others can step up.”

The Kamloops unemployment rate dropped to 4.8 per cent in January, down from 7.4 per cent in December.

While Canada recorded its first net loss of jobs since last summer, the national unemployment rate also dropped from 6.8 per cent to 6.5 per cent as fewer people looked for work. In B.C., it was the same scenario as the labour force shrank by 5,600 people.

According to provincial data, a little over 14,000 people left B.C. over the past year while another 3,000 left in January.

“People are leaving B.C., and what’s most concerning is that we’re losing the next generation of innovators, entrepreneurs and job creators as they seek greener pastures,” said Gavin Dew, the B.C. Conservative critic for jobs, economic development, innovation and AI.

“With debt at record highs and another massive deficit budget coming, David Eby has spent years weakening the very economy he’s depending on to pay for his surge in spending.”

The province’s youth unemployment rate also increased to 13.8 per cent in January and critics like Dew say there continues to be concerns about a high provincial debt and the impact on the economy.

“Youth unemployment is symbolic of a bigger failure,” Dew added. “Getting that first job is a rite of passage. When the first rung on the ladder disappears, the entire climb becomes harder and that’s happening because this government has hamstrung the private sector.”

Kahlon says he acknowledges the challenges that lie ahead as B.C. prepares to release the 2026 budget on Feb. 17. Finance Minister Brenda Bailey has hinted that British Columbians should prepare for significant cuts as the latest quarterly report projects the 2025/26 deficit at $11.2 billion.

“It’s never great to have massive deficits or a significant deficit, but given that we have a lot of fiscal space, it allows us to continue to invest in people and services, while at the same time focusing on growing the economy,” Kahlon added.

“That’s what I think you’ll see in the budget. You’ll see a real focus on driving economic growth and finding ways to land big investments. It’s a key part of our Look West economic strategy to secure $200 billion in major-project investments in British Columbia.”

“We already have three mines that have been announced just in the last two months which gets us about $3.5 billion, and we have more work to do,” Kahlon added.

by Victor Kaisar

Unemployment drops in B.C., Kamloops as B.C. jobs minister Kahlon credits economic diversity

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