B.C. employers are struggling to hire. But there’s more than just a labour shortage at play.
The B.C. government is offering the first look at parts of a $460-million plan to plug a growing labour gap as employers struggle to fill jobs.
B.C.’s latest labour market forecast estimates the province will add roughly 400,000 new jobs by 2032. It created 96,000 net full-time positions in 2022, the province says, leading to an unemployment rate of just 4.4 per cent in January. B.C.’s answer to the problem is the Future Ready Plan, a $460-million strategy the government plans to roll out over the next three years.
Already, the low unemployment rate has many businesses in the province scrambling for staff. Some industries like construction and food services are increasingly relying on the federal government’s Temporary Foreign Worker Program to fill positions. And the government expects that trend to continue as a rising number of workers retire.
Stanford argues the unemployment rate masks the fact that many workers are “under-employed” and would take better jobs with longer hours if they were available. “A labour shortage is a very biased term, and it also, I think, misrepresents exactly how much slack there still is in the labour market in Canada,” Stanford said. “There’s a lot of slack.”
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