The Labour Market Survey results were released today, telling us what we already know except with actual numbers attached. We have seen first-hand how quickly the job landscape is changing. The current unemployment rate is 12.3%, which is up from 13.7% in May. Looking back to February, it was 5.6%.
According to my contacts in the provincial government, we should be hearing updated labour market information within the next week. At the recent Ministry of Advanced Education and Skills Training contractor roundtables, we were able to get a quick snippet of information in the graph below from Vicinity Jobs Inc.
The recovery shown by these two graphs is encouraging. Also encouraging is that employers are turning to ASPECT members for help, and taking advantage of programs such as wage subsidies when they might not have engaged before the pandemic. We've also heard from our member discussions that some are experiencing success in cold-calling employers to promote their services. Full recovery is a long way off, but it is great to see some light after such a dark period. The ingenuity and pivoting of ASPECT members to thrive in this environment still astounds me!
Next week, I will be hitting the road and visiting our members in Penticton, Grand Forks, Trail, Nelson, and Creston. Such a different member tour from four years ago where I flew places and rented cars. This time will be a full-on road adventure with social distancing, a Spotify playlist, and my youngest daughter practicing her driving.