SKEENA REGION, B.C. – National headlines are painting a stark picture of Canada’s economy, with a rising unemployment rate and news of mass layoffs at colleges in Ontario creating concern across the country. But how does that national story compare to the reality here in the Northwest?
Recent reports confirm that Canada’s national unemployment rate has climbed to 7 percent, a nine-year high outside of the pandemic period.
A major contributor to job losses in Central Canada has been the federal government’s new cap on international student visas. In Ontario, this has led to a crisis for many colleges that had become heavily reliant on international tuition fees. The Ontario Public Service Employees Union (OPSEU) has warned that approximately 10,000 college faculty and support staff are facing layoffs as hundreds of academic programs are suspended.
The Local Picture: A Different Story
Here in the Skeena region, the situation is different. While our local post-secondary institution, Coast Mountain College (CMTN), is also navigating the new provincial and federal regulations for international students, it has not announced layoffs on the scale seen in Ontario. The business model for B.C.’s public community colleges has historically been less dependent on massive international student intake compared to the public-private partnership colleges in Ontario that are now facing a crisis.
Furthermore, our local job market remains stronger than the national average. The most recent data for the North Coast & Nechako economic region shows an unemployment rate that is still significantly lower than the 7 percent national figure.
While the national economic situation and changes to immigration policy are important issues that will have ripple effects across the country, the direct impacts are not being felt here in the same way they are in other parts of Canada. For now, the job market and the college system in the Skeena region appear more stable.
