Unemployment Rate Jumps 1.4% From June
The latest statistics reported for the Nanaimo unemployment rate shows a sharp increase from June to July of this year. The rate was 6.1% in June and has jumped to 7.5% in the month of July. Before this indicates a trend we really need to see data for a few more months, as last year reporting errors gave false rates putting Nanaimo in the 14% unemployment range.
One thing that is interesting is the number of people employed for July being 48,100 which has shown a steady increase since January, however is still a long way from the 50,000 employed in 2008.
Whether the number is accurate or not, it is in line with the provincial job loss of over 14,000 jobs and an increased provincial unemployment rate. The increased demand at food banks would also seem to support an increased unemployment rate.
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