Yukon Government sign outside the Jim Smith Building in downtown Whitehorse. CKRW File Photo Courtesy of Macklen Linke.
Whitehorse, YT – Yukon’s unemployment rate has surged to 5.9 percent over the past year, raising concerns about the territory’s economic health while the government claims strong GDP growth and record-high workforce participation.
The territory’s unemployment rate climbed from 3.6 percent in November 2023 to 5.9 percent this November with the number of unemployed increasing from 900 to 1600 according to the Yukon Bureau of Statistics. This marks a 78 percent unemployment spike.
Economic Development Critic Geraldine Van Bibber criticized the Liberal government, stating the data contradicts claims of a strong economy.
A recent Fiscal and Economic Update projected a 2.3% shrink in Yukon’s GDP for 2024.
Officials stated that the rise in unemployment reflects rapid labour force growth outpacing job creation.
A spokesperson for Cabinet Communications states that “the rise in unemployment is part of a broader, complex trend influenced by global factors and seasonal changes.”
The government also says critics are overlooking positive facts, including a 21.3 percent GDP growth from 2019 to 2023, a below-national unemployment rate and record-high workforce participation.
