CPABC: Greater Victoria’s labour market holds steady in 2025

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Postmedia has not reviewed the content. by GlobeNewswire Article contentVICTORIA, British Columbia, Dec. 18, 2025 (GLOBE NEWSWIRE) — According to BC Check-Up: Work, an annual report by the Chartered Professional Accountants of British Columbia (CPABC) on labour market trends across the province, the unemployment rate in Greater Victoria was 3.9 per cent in November 2025, little changed from one year earlier.Sign In or Create an AccountEmail AddressContinueor View more offersArticle content“Most of the headline indicators didn’t change much from where they were last year.” said Simon Philp, FCPA, FCMA, Market Vice President at CIBC. “Employment shifted in quite a few industries during the year, and headcounts reverted back to 2023 levels in many cases.”Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentThere were 241,300 Greater Victoria residents working in November 2025, in line with the number recorded in November 2024. The employment rate and labour force participation rate also held steady year-over-year, at 63.3 per cent and 65.9 per cent respectively.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentBetween November 2024 and November 2025, Greater Victoria’s goods sector added 1,900 workers (+6.6 per cent), building on a 2,800 worker (+10.8 per cent) increase during the previous 12 months. An uptick in construction employment accounted for most of the year-over-year increase.Article contentMeanwhile, employment in the region’s services sector trended slightly lower as professional, scientific and technical services (-4,500 workers; -18.4 per cent) and information, culture and recreation (-2,900 workers; -22.5 per cent) recorded the largest declines, reversing gains made one year earlier. Employment also fell marginally in five other industries. Meanwhile, wholesale and retail trade (+5,300 workers; +20.0 per cent), transportation and warehousing (+4,000; +55.6 per cent), and business services (+1,800 workers; +24.0 per cent) added workers during the year.Article contentArticle content“In the context of the current economic climate, Greater Victoria’s labour market was stable in 2025,” noted Philp. “Victoria’s limited exposure to U.S. trade, and stability from the public sector have generally led to better labour market outcomes compared to other parts of the province.”Article contentAccording to Statistics Canada, Victoria boasted one of the lowest rates of household financial insecurity among Canada’s 20 largest census metropolitan areas (CMAs). Less than a quarter of working-age Victoria CMA residents (23.8 per cent) lived in households that were experiencing difficulties meeting its financial needs. This compared favourably to Greater Vancouver (27.3 per cent) and the Canadian average of 27.7 per cent.Article content“We are fortunate that we haven’t experienced widespread layoffs so far, and have relatively low unemployment,” concluded Philp. “That is having a direct impact on how residents are feeling about their financial security”Article contentTo learn more, visit www.bccpa.caArticle contentAbout CPA British ColumbiaArticle contentThe Chartered Professional Accountants of British Columbia (CPABC) is the training, governing, and regulatory body for over 40,000 CPA members and 6,000 CPA candidates and students. CPABC carries out its primary mission to protect the public by enforcing the highest professional and ethical standards and contributing to the advancement of public policy.Article contentCPABC Media Contact:Jack Blackwell, Economist604.259.1143news@bccpa.caArticle contentArticle contentArticle contentArticle contentArticle contentArticle contentTrending Philip Cross: The sad story of Justin Trudeau’s 'youthful idiots' FP Comment Tax Court overturns CRA decision to deny bitcoin loss writeoff Taxes Posthaste: Here's where home prices plunged the most in tough year for Canada's housing market News Welcome to the K-shaped economy: Canadians look back on a 'brutal,' 'great' year in Trump's trade war Economy Trump official signals support for trade deal with Canada, Mexico Economy Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Philip Cross: The sad story of Justin Trudeau’s 'youthful idiots' FP Comment Tax Court overturns CRA decision to deny bitcoin loss writeoff Taxes Posthaste: Here's where home prices plunged the most in tough year for Canada's housing market News Welcome to the K-shaped economy: Canadians look back on a 'brutal,' 'great' year in Trump's trade war Economy Trump official signals support for trade deal with Canada, Mexico Economy