CPABC: Vancouver Island and Coast gains workers in 2025, but challenges still persist

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Postmedia has not reviewed the content. by GlobeNewswire Article contentDUNCAN, 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, 232,000 people were employed in Vancouver Island and Coast (excluding Greater Victoria), as the region added 11,700 workers (+5.3 per cent) between November 2024 and November 2025.Sign In or Create an AccountEmail AddressContinueor View more offersArticle content“Things held relatively steady in 2025 despite the economic risks that arose during the year,” said Woody Hayes, FCPA, FCA. “Generally speaking, labour market trends in Nanaimo and the rest of the region moved in the same direction, but some differences remained.”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 contentYear-over-year employment growth in Vancouver Island and Coast outpaced working-age population growth of 0.9 per cent, resulting in a 2.3 percentage point increase in the region’s employment rate, to 54.3 per cent in November 2025. The participation rate also increased 2.3 percentage points to 57.2 per cent.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 contentThis increase in employment and labour force participation coincided with a stabilization of Vancouver Island and Coast’s unemployment rate. After rising from 3.9 per cent to 5.2 per cent between November 2023 and November 2024, the unemployment rate held steady at 5.1 per cent.Article contentAggregate changes during the year were spread across the region as employment gains were split between Nanaimo (+9.7 per cent), the largest metropolitan area, and other communities (+3.7 per cent) located in Vancouver Island and Coast (excluding greater Victoria). The unemployment rates in the respective area’s were both similar to November 2024 rates, at 6.8 per cent in Nanaimo and 4.4 per cent elsewhere.Article content“When you take a look at employment by industry, you start to add some colour to the overall trend,” noted Hayes. “The services sector accounted for all employment gains during the year.”Article contentArticle contentVancouver Island and Coast’s services sector added 11,600 workers (+6.5 per cent) between November 2024 and November 2025. Seven of 11 industries in the sector grew by more than 10.0 per cent, with business, building and other support services (+49.2 per cent; +3,000 workers) and financial, insurance and real estate services (+34.0 per cent; +3,300 workers) growing the fastest. Goods sector employment on the other hand was little changed year-over-year, employing 41,100 residents in November 2025.Article content“It is a bit of the case that overall positive results are hiding some localized pain in smaller communities, particularly those dependent on forestry and related sectors,” concluded Hayes. “The recent closure of the mill in Crofton caps off a tough couple years for an industry that has experienced other closures and curtailments. I think people are probably less optimistic than the headline numbers generally show.”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 contentArticle contentArticle contentArticle contentArticle contentArticle contentCPABC Media Contact: Jack Blackwell, Economist 604.259.1143 news@bccpa.caArticle contentTrending Tax Court overturns CRA decision to deny bitcoin loss writeoff Taxes Philip Cross: The sad story of Justin Trudeau’s 'youthful idiots' FP Comment Mortgage rates move — but in the wrong direction Mortgage Rates 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 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. Tax Court overturns CRA decision to deny bitcoin loss writeoff Taxes Philip Cross: The sad story of Justin Trudeau’s 'youthful idiots' FP Comment Mortgage rates move — but in the wrong direction Mortgage Rates 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