B.C. unemployment rate falls even lower, dropping to 4.1 percent

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      B.C.'s unemployment rate remained the lowest in the country in October, according to Statistics Canada.

      It fell to 4.1 percent from 4.2 percent the previous month, on a seasonally adjusted basis.

      The national rate dropped from 5.9 percent to 5.8 percent because fewer people were looking for work in October.

      The seasonally adjusted unemployment rate in Metro Vancouver fell from 4.5 percent to 4.3 percent between September and October.

      In Greater Victoria, it held steady at 3.9 percent, which is tied with Quebec City for having the second-lowest rate among metropolitan areas in Canada. In first place is Guelph, Ontario, at 3.3 percent. 

      The jobless rate is 5 percent in Kelowna and 4.7 percent in Abbotsford.

      The number of British Columbians employed on a full-time basis fell by 13,300 as the "participation rate" in the workforce dropped slightly, from 64.9 percent to 64.8 percent.

      The fall in participation was much sharper for those from 15 to 24 years of age, declining from 64.8 percent to 63.6 percent.

      This reflects a relatively large number of young people dropping out of the workforce to return to school at this time of year. 

      Next door in Alberta, unemployment rates are significantly higher in its two largest cities. Calgary is at 8.2 percent and Edmonton is at 6.3 percent. The provincial rate is 7.3 percent.

      The province with the highest seasonally adjusted unemployment rate is Newfoundland and Labrador at 12.7 percent. That was a sharp improvement over the 13.6 percent jobless rate in September.

      Canfor will be trimming its workforce on a temporary basis.

      Market conditions affect forest industry

      Meanwhile, B.C.'s largest forest company, Canfor, has announced that it's "temporarily curtailing" production in B.C. by about 10 percent.

      This is "due to log supply constraints, log costs, and current market conditions", according to a company news release.

      "We are working to mitigate impacts on our employees as much as possible," president and CEO Don Kayne said.

      Vancouver-based Canfor employs approximately 4,100 people in B.C.