Workforce Composition by Status

In the most recent month, Full-time Employment decreased by 800 jobs from last month and decreased by 2,400 jobs compared to the same month last year.

Part-time Employment increased by 2,400 jobs from last month and increased by 200 jobs year-over-year.

The number of Unemployed individuals increased by 500 people from the previous month and increased by 800 people compared to last year.

Employment, Unemployment, and Participation Rate

The Employment Rate decreased by 2.3 percentage points from a year ago.

The Unemployment Rate increased by 0.9 percentage points from a year ago.

The Participation Rate decreased by 1.8 percentage points year-over-year.

Jobs Added or Lost by Month

Employment levels increased by 1,700 jobs from the previous month and decreased by 2,200 jobs compared to the same month last year.

In the most recent month, employment increased by 1,700 jobs . Over the last year, the labor market has decreased by 2,200 jobs .

Top 3 Industries in Goods Sector

• Construction : 10,900 workers.
• Manufacturing : 6,100 workers.
• Forestry, fishing, mining, quarrying, oil and gas : 4,800 workers.

The Goods sector is mainly driven by industries such as Construction, Manufacturing, and Agriculture, which together account for a substantial share of the workforce.

Top 3 Industries in Services Sector

• Health care and social assistance : 14,000 workers.
• Wholesale and retail trade : 13,500 workers.
• Accommodation and food services : 8,200 workers.

In the Services sector, Health Care, Retail, and Professional Services lead employment, representing a dominant portion of the workforce.

Top 5 Industries by Change from Previous Month

• Construction : Change of 1,900 workers ( increased by 21.11 %).
• Other services (except public administration) : Change of 1,700 workers ( decreased by 100 %).
• Forestry, fishing, mining, quarrying, oil and gas : Change of 1,600 workers ( decreased by 25 %).
• Accommodation and food services : Change of 1,400 workers ( increased by 20.59 %).
• Information, culture and recreation : Change of 1,200 workers ( decreased by 33.33 %).

These industries saw the largest month-over-month changes, indicating short-term trends.

Top 5 Industries by Change from Same Month Last Year

• Forestry, fishing, mining, quarrying, oil and gas : Change of 4,400 workers ( decreased by 47.83 %).
• Other services (except public administration) : Change of 4,300 workers ( decreased by 100 %).
• Construction : Change of 3,700 workers ( increased by 51.39 %).
• Public administration : Change of 2,800 workers ( decreased by 100 %).
• Business, building and other support services : Change of 2,700 workers ( decreased by 100 %).

The year-over-year changes provide insights into longer-term shifts, highlighting industries that have grown or declined significantly.

Conclusion

Employment has seen a decline over the year, highlighting some challenges in the job market. Key industries driving the trend are: Construction, Wholesale and retail trade, Educational services, Health care and social assistance, Accommodation and food services.

Employment Trends

Total employment in December 2024 was 14,190, showing a modest decrease of 140. relative to December, employment levels fell by 690, showing strain.

Employment Rate Dynamics

The employment rate reached 56.9% in December 2024. This represents a decline of 0.6 percentage points from November (57.5%). Year-over-year, the rate decreased by 4.1 percentage points from 61.0%.

Unemployment Rate Trends

The unemployment rate was 5.2% in December 2024, up 0.2 percentage points from November. Compared to December last year (4.9%), the rate has increased by 0.3 percentage points.

Employment: Regional vs Local Patterns

The strong correlation (0.88) between regional and local employment levels indicates very similar employment patterns at both geographic levels. This suggests that local employment closely follows regional trends.

Employment Rate: Regional vs Local Patterns

Employment rates show a strong correlation (0.91) between regional and local levels. This indicates strong alignment in workforce participation, suggesting that labor market conditions affect both areas similarly.

Unemployment Rate: Regional vs Local Patterns

The unemployment rate correlation of 0.73 shows a strong relationship. This reveals synchronized unemployment patterns, indicating that economic challenges affect both geographic levels similarly.

Cranbrook consists of the following communities: Cranbrook, East Kootenay C, Isidore's Ranch 4, Cassimayooks (Mayook) 5 .