economy
METRO VANCOUVER’S FULL-TIME JOBS BOOM The past year’s job surge has been fuelled by growth in full-time positions; we will all benefit from this trend continuing.
Job growth, on the surface, would appear to be an unambiguously positive feature of any market, given the improvements in a region’s overall quality of life that are associated with it. This is why there is much to be pleased about in the latest employment figures for Canada, British Columbia, and Metro Vancouver. One question often not asked, however, is: what type of jobs are fuelling overall employment growth? In the case of Metro Vancouver, and indeed, in most
markets across Canada, full-time positions accounted for most (or in some cases all) of the growth over the past year. Indeed, in Metro Vancouver, 57% of total job growth was in full-time work, with the 40,700 full-time positions added being 142% higher than over the preceding year. Because full-time jobs are associated with both higher wages (often including benefits) and security of tenure, recent trends bode well for near-term economic and housing market stability.
VANCOUVER JOB GROWTH: FULL-TIME, FULL SPEED AHEAD ›
45
40.70
40
35
30.90
30
25.68
25
20
16.80
15
10
5.14
5
0.50
0
PREVIOUS YEAR AVG
PREVIOUS YEAR
PAST YEAR
CHANGE IN JOBS ’ S :
PART TIME
FULL TIME
SOURCE: LABOUR FORCE SURVEY, STATISTICS CANADA
DATA: 3-MONTH MOVING AVERAGE, UNADJUSTED FOR SEASONALITY
14
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