BCREA ECONOMICS NOW put out the following report that details what is happening with unemployment in all of Canada, BC and the US.
Canadian and US Employment - April 5, 2013
"Canadian employment declined by 55,000 in March, erasing a similar sized increase in February. All of March's losses were in full-time employment. In spite of the decline, employment remains 1.2 per cent higher than this time last year. However, the national unemployment rate rose 0.2 points to 7.2 per cent.
The BC labour market shed almost 15,000 jobs in March, including 22,400 full-time jobs while part-time employment ticked 7,500 higher. The provincial unemployment rate spiked 0.7 points higher to 7 per cent. Despite the sharp decline in March, total employment in BC remains 1 per cent higher than March 2012.
In the US, employment growth tailed off significantly from very strong recent months as employers expanded payrolls by just 88,000. The US unemployment rate fell to 7.6 per cent."
Let me know if you would like any other information regarding how this is effecting the Real Estate market in Vancouver's lower mainland. I am always happy to help!