Category:
Tourism Based Economy
Tourism Based Economy
In 2021, 8% of permanent residents are considered unemployed. This is a significant increase from 2020 and represents the highest unemployment rate recorded. This increase can be attributed to the impact of COVID and is expected to fall again in 2022 as businesses reopen and residents return to work.
Why we monitor this
Unemployment rate is a key indicator of economic health as well as general societal health. A lack of employment often relates to decreased individual and family wellbeing and reduced ability to purchase goods and services. Alternately, a very low unemployment rate can indicate challenges in attracting a skilled workforce.
What this measures
This indicator measures the proportion of individuals who are not currently working, but are actively seeking employment. Data is collected annually through the Community Life Survey.
Related Indicators