Employment Rates

Since the beginning of 2010, Greater Victoria has seen a decrease in unemployment, which currently stands at 5.4 per cent. The longer-term trend since the late 1990s has been for declining unemployment, due largely to strong economic conditions for much of the past decade. Greater Victoria's unemployment rate has been consistently lower than the provincial rate since 1995.

Regarding population growth, Victoria continues to be a very desirable destination for new residents. Greater Victoria accounted for 7.3 per cent of all migrants to B.C. in 2006-07. Migration to the region consisted of 2.6 per cent of international migrants and 21.8 per cent of inter-provincial migrants to B.C. for an increase of 2.2 per cent from 2005 to 2006.

The sectors with the fastest growth rates from 2001 to 2006 were management of companies and enterprises, scientific and technical services, and construction. Other large sectors that grew faster than the regional average of 11 per cent include professional, scientific, and technical services (25 per cent); wholesale trade (23 per cent); finance and insurance (16 per cent); arts, entertainment, and recreation (34 per cent); and accommodation and food services (14 per cent). All three of the tourism sectors (15 per cent), high technology (14 per cent), and arts and culture creation and production (15 per cent) also grew faster than the regional average.

See more information in our latest newsletter.