CPABC: Greater Victoria’s labour market holds steady in 2025

VICTORIA, British Columbia, Dec. 18, 2025 (GLOBE NEWSWIRE) -- According to BC Check-Up: Work, an annual report by the Chartered Professional Accountants of British Columbia (CPABC) on labour market trends across the province, the unemployment rate in Greater Victoria was 3.9 per cent in November 2025, little changed from one year earlier.

“Most of the headline indicators didn’t change much from where they were last year.” said Simon Philp, FCPA, FCMA, Market Vice President at CIBC. “Employment shifted in quite a few industries during the year, and headcounts reverted back to 2023 levels in many cases.”

There were 241,300 Greater Victoria residents working in November 2025, in line with the number recorded in November 2024. The employment rate and labour force participation rate also held steady year-over-year, at 63.3 per cent and 65.9 per cent respectively.

Between November 2024 and November 2025, Greater Victoria’s goods sector added 1,900 workers (+6.6 per cent), building on a 2,800 worker (+10.8 per cent) increase during the previous 12 months. An uptick in construction employment accounted for most of the year-over-year increase.

Meanwhile, employment in the region’s services sector trended slightly lower as professional, scientific and technical services (-4,500 workers; -18.4 per cent) and information, culture and recreation (-2,900 workers; -22.5 per cent) recorded the largest declines, reversing gains made one year earlier. Employment also fell marginally in five other industries. Meanwhile, wholesale and retail trade (+5,300 workers; +20.0 per cent), transportation and warehousing (+4,000; +55.6 per cent), and business services (+1,800 workers; +24.0 per cent) added workers during the year.

“In the context of the current economic climate, Greater Victoria’s labour market was stable in 2025,” noted Philp. “Victoria’s limited exposure to U.S. trade, and stability from the public sector have generally led to better labour market outcomes compared to other parts of the province.”

According to Statistics Canada, Victoria boasted one of the lowest rates of household financial insecurity among Canada’s 20 largest census metropolitan areas (CMAs). Less than a quarter of working-age Victoria CMA residents (23.8 per cent) lived in households that were experiencing difficulties meeting its financial needs. This compared favourably to Greater Vancouver (27.3 per cent) and the Canadian average of 27.7 per cent.

“We are fortunate that we haven’t experienced widespread layoffs so far, and have relatively low unemployment,” concluded Philp. “That is having a direct impact on how residents are feeling about their financial security”

To learn more, visit www.bccpa.ca

About CPA British Columbia

The Chartered Professional Accountants of British Columbia (CPABC) is the training, governing, and regulatory body for over 40,000 CPA members and 6,000 CPA candidates and students. CPABC carries out its primary mission to protect the public by enforcing the highest professional and ethical standards and contributing to the advancement of public policy.

CPABC Media Contact:
Jack Blackwell, Economist
604.259.1143
news@bccpa.ca

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