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News > People & Jobs in British Columbia's Future: A Scenario for BC's Labour Market to 2041

People & Jobs in British Columbia's Future: A Scenario for BC's Labour Market to 2041

by Urban Futures, posted on 9:57 AM, February 24, 2014

The focus on British Columbia's changing demographics and its impacts on our labour force has, to some degree, become muted in recent years as relatively slow economic growth, and more notably a decline in employment in 2013, has pushed the province's unemployment rate above its full employment level. That being said, the gap between labour supply and demand has been closing since the Great Recession, and as we look ahead over the coming decades our changing population will continue to exert downward pressure on the unemployment rate. Despite modest expectations for economic growth, further increases in labour force participation rates, and relatively robust levels of immigration, our most recent projection shows BC reaching full employment by early 2020. Therefore, without significant increases in productivity, our demographics could put the brakes on growth in the provincial economy from this point forward.

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