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YCC Comments on February Unemployment Rate

(Whitehorse, Yukon) Labour force data released by the Yukon Bureau of Statistics and Statistics Canada on Friday reveals the unemployment rate in Yukon rose from 3.3 % to 4.5% in February but still remains favourable against the national rate of 5.5%.

The low unemployment rate in Yukon has been driving costs and pricing in key sectors like housing. An uptick in the unemployment rate is likely to have a positive impact on the private sector’s access to employees which has been a challenge for many Yukon employers over the past year.

We are also seeing an increase in labor force participation, more Yukoners are looking for work than in previous months. An unemployment rate between 4-5% signals a healthy economy and a return to pre-COVID performance which is most welcome.

To see the latest Labour Force Survey for Yukon, as released on March 11, click here.

For Information or Comment Contact: Denny Kobayashi

Executive Director (867) 333-4257

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