Kelowna is no longer the land of opportunity that it once was. In the span of just a year, it went from being the best place to find a job in the country to the second worst, dropping an astonishing 31 points.
A list released by the Bank of Montreal indicates Kelowna is just barely ahead of Sudbury, Ontario, when just last year, it was ranked number one in Canada.
Kelowna’s jobless rate currently sits at 7.6%, representing a year-over-year change of 4.6%. That’s just under hard-hit city Calgary’s unemployment rate of 7.7%.
Despite the apparent doom and gloom of Kelowna’s rapid decline, B.C. still boasts some of the best job prospects in the country. The report says the province has the best job growth rate its had in 20 years, while Ontario also boasts consistent gains.
“In other words, don’t let the sticky jobless rates fool you—these are the two strongest markets in Canada, and it’s not really even close,” reads the report.
Interestingly, the two provinces that are home to the worst cities for job growth are also home to the best cities for job growth: Toronto and Vancouver.
In fact, B.C. is seen as such a land of opportunity, that many Albertans are crossing over to look for jobs. Edmonton, however, managed to make it among the top five best places to get a job, likely due to public-sector hiring.