Will B.C.’s unemployment continue to go down? A leading B.C. economist thinks that will be the case after Statistics Canada reported the province’s unemployment rate fell from 5.6 per cent in January to 5.1 per cent last month.
Chief Economist with Central 1 Credit Union Helmut Pastrick says he expects B.C.’s economy to grow at a decent pace.
“We’ll probably see a higher unemployment rate in March, compared to the 5.1 per cent we had in February. But the trend will likely continue to be lower, that is for the course of the year.”
Pastrick says people should expect unemployment numbers to fluctuate in the coming months but by the end of the year, the province will probably be sitting at five per cent.
He says certain industries will see an uptick in the coming months.
“Domestic sectors will continue to do well, construction industry will make further gains. Forestry, there are some clouds on the horizon related to softwood lumber duties that will likely be imposed in the next two to three months in the U.S.”
Pastrick says the province has seen gains in the film and technology sectors.