More Full Time Work in Canada in May

On Friday we found out that month to month Canada added 59,000 more jobs in May, however, because more folks were looking for work in May, the Unemployment rate stays rock steady at 6.8% (for the 4th consecutive month). More fun with numbers, since more folks are looking for jobs, even though the economy is adding jobs, it is not fast enough to absorb the new job seekers.

The more encouraging statement in the report is:

In the 12 months to May, employment increased by 192,000 (+1.1%), the result of more full-time work. Over the same period, the total number of hours worked grew by 1.2%.

This is good news, but the fact that there are more folks looking for jobs does temper my expectations.

Overall employment in Canada for past 5 years

Overall employment for past 5 years

Looking at the graph you see that more folks are working, but then you have the unemployment graph and you end up scratching your head a little:

Unemployment rate in Canada for Past 5 years

Unemployment Rate for Past 5 years

Is this a chicken and egg problem, where there are more jobs, thus folks who haven’t been looking start looking again? That may be one explanation, or maybe folks EI have stopped paying out?

Who found these new jobs? Men aged 25 to 54, most of the other demographics were pretty much stable, again, why? More jobs in the Private Sector, is good, and less in the Public Sector might be a good thing (but I like smaller government).

The Big Table

I have edited one of the big tables from the report to show change year over year (make it a little easier to read), but I urge you to read the whole report if you have the time:

Labour force characteristics by age and sex – Seasonally adjusted

April
2015
May
2015
Std Err1
thousands
Both sexes, 15 years and over
Population 29,208.2 29,232.1
Labour force 19,205.1 19,261.3 29.0
Employment 17,894.9 17,953.8 28.7
Full-time 14,506.9 14,537.8 39.2
Part-time 3,388.1 3,416.0 36.1
Unemployment 1,310.2 1,307.6 24.6
Participation rate 65.8 65.9 0.1
Unemployment rate 6.8 6.8 0.1
Employment rate 61.3 61.4 0.1
Part-time rate 18.9 19.0 0.2
Youths, 15 to 24 years
Population 4,441.0 4,438.0
Labour force 2,875.8 2,877.2 16.9
Employment 2,485.8 2,497.7 15.6
Full-time 1,299.0 1,294.1 18.8
Part-time 1,186.8 1,203.5 19.8
Unemployment 390.0 379.5 14.5
Participation rate 64.8 64.8 0.4
Unemployment rate 13.6 13.2 0.5
Employment rate 56.0 56.3 0.3
Part-time rate 47.7 48.2 0.7
Men, 25 years and over
Population 12,113.6 12,127.2
Labour force 8,650.9 8,701.0 15.3
Employment 8,135.8 8,169.5 16.5
Full-time 7,502.9 7,540.9 21.9
Part-time 632.9 628.6 17.9
Unemployment 515.2 531.5 14.3
Participation rate 71.4 71.7 0.1
Unemployment rate 6.0 6.1 0.2
Employment rate 67.2 67.4 0.1
Part-time rate 7.8 7.7 0.2
Women, 25 years and over
Population 12,653.5 12,666.9
Labour force 7,678.4 7,683.1 16.5
Employment 7,273.4 7,286.6 16.0
Full-time 5,705.0 5,702.7 24.9
Part-time 1,568.4 1,583.9 23.7
Unemployment 405.0 396.5 13.2
Participation rate 60.7 60.7 0.1
Unemployment rate 5.3 5.2 0.2
Employment rate 57.5 57.5 0.1
Part-time rate 21.6 21.7 0.3

not applicable

 

Note(s):

The sum of individual categories may not always add up to the total as a result of rounding.

Source(s):

CANSIM table 282-0087.

 

Employments Reports for 2015

{ 2 comments }

{ 2 comments… add one }
  • Barry @ Moneywehave June 8, 2015, 11:50 AM

    I find it quite amazing how we can have a ton of job losses one month than huge gains the next. I try to not get excited about any of these stats.

    Reply
    • bigcajunman June 8, 2015, 12:41 PM

      Sums it up nicely, well stated Good Sir!

      Reply

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