6600 More Jobs in Canada in July

Stats Canada pointed out that the Canadian Economy (in terms of folks working and jobs) is treading water and not getting any worse, but not flourishing either, in their report Labour Force Survey for July 2015 published this past Friday.

The story is a little more heartening if you look at the year over year numbers:

Compared with 12 months earlier, employment increased by 161,000 or 0.9%, the result of more full-time work. Over the same period, the total number of hours worked rose 1.2%.

I am confident, that if I was a Tory candidate I would quote that part of the report, however, if I was in the opposition I’d point out how stagnant job creation has become month over month (“… nice hair though…”).

Employment Graph

Employment Graph Since 2010 
CANSIM table 282-0087.

 

You can see the leveling off in the graph, for the past little while.

Last week in my best of post Cheap Gold, Cheap Oil, Weak Dollar, Election Week 1 and #BestMoneyStories, I ranted about how commodities and oil price dropping is hurting the west and that is well highlighted in this report:

Despite little change in the level of employment in Alberta, the unemployment rate increased by 0.3 percentage points to 6.0% in July as more people searched for work. Since January, the unemployment rate in the province has increased by 1.5 percentage points.

This is a telling statement, with job losses in Manitoba and Saskatchewan as well, whereas Ontario and Quebec there are “more” jobs (see the table at the end of this post for more details).

It will be hard to argue this is good news (on the election front), but it isn’t disastrous news (although it is not very good news out west).

Unemployment Graph (rate)

Unemployment Graph since 2010 CANSIM table 282-0087.

The Big Table

As I mentioned let us look at this, province by province.

June
2015
July
2015
Std
error1
June to
July 2015
July 2014
to July 2015
thousands (except rates) thousands (except rates) thousands (except
rates)
change in thousands
(except
rates)
change in
thousands (except
rates)
Newfoundland and Labrador
Population 442.8 442.5 -0.3 -1.3
Labour force 270.5 268.3 2.0 -2.2 -1.7
Employment 237.1 236.5 2.1 -0.6 -1.3
Full-time 204.4 205.5 2.7 1.1 5.9
Part-time 32.7 31.0 2.1 -1.7 -7.2
Unemployment 33.4 31.8 2.0 -1.6 -0.4
Participation rate 61.1 60.6 0.5 -0.5 -0.2
Unemployment rate 12.3 11.9 0.7 -0.4 0.0
Employment rate 53.5 53.4 0.5 -0.1 -0.2
Prince Edward Island
Population 120.9 120.9 0.0 0.2
Labour force 82.1 81.7 0.6 -0.4 0.0
Employment 73.0 72.2 0.6 -0.8 -1.9
Full-time 59.9 59.7 0.9 -0.2 -2.3
Part-time 13.2 12.5 0.7 -0.7 0.3
Unemployment 9.1 9.5 0.6 0.4 1.9
Participation rate 67.9 67.6 0.5 -0.3 -0.1
Unemployment rate 11.1 11.6 0.7 0.5 2.3
Employment rate 60.4 59.7 0.5 -0.7 -1.7
Nova Scotia
Population 785.2 785.8 0.6 3.0
Labour force 485.0 489.3 2.6 4.3 -3.3
Employment 446.4 449.5 2.7 3.1 3.8
Full-time 364.2 369.4 3.8 5.2 7.6
Part-time 82.2 80.1 3.3 -2.1 -3.8
Unemployment 38.7 39.8 2.4 1.1 -7.1
Participation rate 61.8 62.3 0.3 0.5 -0.6
Unemployment rate 8.0 8.1 0.5 0.1 -1.4
Employment rate 56.9 57.2 0.3 0.3 0.3
New Brunswick
Population 621.9 621.9 0.0 0.5
Labour force 390.5 390.4 2.2 -0.1 0.4
Employment 348.2 347.5 2.3 -0.7 -3.7
Full-time 293.2 297.7 3.1 4.5 4.2
Part-time 55.0 49.8 2.7 -5.2 -7.9
Unemployment 42.2 42.9 2.1 0.7 4.0
Participation rate 62.8 62.8 0.4 0.0 0.0
Unemployment rate 10.8 11.0 0.5 0.2 1.0
Employment rate 56.0 55.9 0.4 -0.1 -0.6
Quebec
Population 6,841.5 6,845.1 3.6 39.0
Labour force 4,429.5 4,438.5 14.8 9.0 27.7
Employment 4,075.5 4,097.2 14.8 21.7 43.7
Full-time 3,294.1 3,297.4 21.4 3.3 57.1
Part-time 781.4 799.8 19.6 18.4 -13.3
Unemployment 354.0 341.3 13.2 -12.7 -16.1
Participation rate 64.7 64.8 0.2 0.1 0.0
Unemployment rate 8.0 7.7 0.3 -0.3 -0.4
Employment rate 59.6 59.9 0.2 0.3 0.3
Ontario
Population 11,378.1 11,390.4 12.3 113.4
Labour force 7,426.0 7,424.1 19.7 -1.9 -11.5
Employment 6,945.7 6,945.7 19.6 0.0 67.4
Full-time 5,647.0 5,642.4 28.3 -4.6 131.0
Part-time 1,298.7 1,303.4 25.6 4.7 -63.5
Unemployment 480.3 478.4 16.9 -1.9 -78.9
Participation rate 65.3 65.2 0.2 -0.1 -0.7
Unemployment rate 6.5 6.4 0.2 -0.1 -1.1
Employment rate 61.0 61.0 0.2 0.0 0.0
Manitoba
Population 986.4 987.6 1.2 10.1
Labour force 671.8 669.7 2.5 -2.1 8.9
Employment 636.1 632.3 2.5 -3.8 6.0
Full-time 512.1 509.7 3.8 -2.4 9.3
Part-time 124.1 122.6 3.6 -1.5 -3.3
Unemployment 35.7 37.4 2.1 1.7 2.9
Participation rate 68.1 67.8 0.3 -0.3 0.2
Unemployment rate 5.3 5.6 0.3 0.3 0.4
Employment rate 64.5 64.0 0.3 -0.5 -0.1
Saskatchewan
Population 861.1 861.9 0.8 8.7
Labour force 604.7 599.6 2.6 -5.1 8.8
Employment 576.1 568.7 2.7 -7.4 -2.7
Full-time 474.8 464.6 3.7 -10.2 -10.3
Part-time 101.4 104.2 3.4 2.8 7.7
Unemployment 28.6 30.9 2.0 2.3 11.5
Participation rate 70.2 69.6 0.3 -0.6 0.4
Unemployment rate 4.7 5.2 0.3 0.5 1.9
Employment rate 66.9 66.0 0.3 -0.9 -1.0
Alberta
Population 3,354.0 3,360.4 6.4 71.1
Labour force 2,441.5 2,446.1 10.0 4.6 61.0
Employment 2,302.5 2,298.2 10.2 -4.3 21.0
Full-time 1,918.9 1,920.5 14.2 1.6 23.1
Part-time 383.6 377.7 12.7 -5.9 -2.1
Unemployment 139.1 147.8 7.9 8.7 39.9
Participation rate 72.8 72.8 0.3 0.0 0.3
Unemployment rate 5.7 6.0 0.3 0.3 1.5
Employment rate 68.6 68.4 0.3 -0.2 -0.8
British Columbia
Population 3,874.4 3,879.5 5.1 47.0
Labour force 2,449.5 2,452.3 10.1 2.8 28.4
Employment 2,306.6 2,306.0 10.1 -0.6 28.9
Full-time 1,834.1 1,818.4 14.9 -15.7 29.9
Part-time 472.5 487.7 14.4 15.2 -0.8
Unemployment 142.9 146.2 8.2 3.3 -0.7
Participation rate 63.2 63.2 0.3 0.0 0.0
Unemployment rate 5.8 6.0 0.3 0.2 -0.1
Employment rate 59.5 59.4 0.3 -0.1 0.0

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.

 

Job Reports from 2015

So far here are the employment reports on this site:

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The Canadian Economy keeps taking it in the teeth these days, in terms of its over-reliance on commodities and the cheaper prices on Oil and now on Gold (Au). Gold now sits at a 5 year low in terms of its price, and it is making it less attractive to mine gold, thus making jobs in mining scarce, to go along with the problems already seen in the oil patches. The lower Canadian dollar will make manufacturing jobs in Canada look more attractive, but we shall see whether that part of the economy awakes from it’s 9 year slumber. The Canadian NHL teams are going to have issues with their revenues as well (given they must pay their players in US $).

Seems like maybe we should have thought about this when the Canadian Dollar was strong, and Oil was over $100 a barrel? Just saying.

Speaking of Oil prices, glad to see gas prices aren’t dropping quickly, even with oil under $60 a barrel, but the price of gasoline has nothing to do with the price of oil, does it?

A sad farewell to Jon Stewart at the Daily Show, many a great quip has come from that show and its writers, we shall see whether it can whether Mr. Stewart’s departure.

The first “leaders” debate transpired last night, but my guess is, it wasn’t nearly as interesting as any debate that might include the “Master of Disaster” Donald Trump. He makes politics interesting again (or at least as interesting as UFC to watch). This week in the election we have had wagged fingers for the Tories and NDP calling Justin Trudeau by his first name (nice hair though), Mr. Harper promising that one day he might, if the budget is balanced, and oil goes back up in price, think about possibly bringing back the home renovation credit, and Mr. Mulcair mostly chuckling in the background, realizing he doesn’t have to open his mouth and he could win a majority. The Green party is doing something, and the Bloc has decided to run a stealth campaign of their own, maybe we’ll look back in on this lot in September?

Symantec CA

My Writings for Week Ending August 7th

Well, I didn’t really write much this week, thanks to vacations and studying for my French Exams), but I did go through my archives and found some of my favorites from the past :

Singing Horses ?

Maybe Those Horses Might Sing ?

  • A great financial understatement is really me commenting on my own dry commentary on the stock market implosion of 2008. Those were bad times, but thanks to that I managed to make some great investments? Yes, it doesn’t make a lot of sense, but that is how things work sometimes.
  • Advice: Best Financial Advice Ever Given, is one of my favorite money related parable/joke that my Father told me, and this interesting icon on the right came from that exact same post as well.
  • To give you an orthogonal response to the previous post, The Worst Financial Advice Ever Given, is me making a big mistake with a friend (and one of the reasons I don’t give out advice, except to my kids).

Kobo Canada


People call Ottawa the city where fun went to die, I think I disagree, it is the city where
fidelity went to die:


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A Great Financial Understatement

I spend a fair amount of time reading and reviewing some of my older posts, mostly to check the awkward writing style, and to repair broken links and such. I tripped across a classic understatement I made in the summer of 2008

Bad Day on the Market

That was the day after the market meltdown that eradicated a great deal of wealth in a few short days. Remember that the real obliteration of wealth happened on September 20th, 2008, but this was a start (thanks to me being laid off I was a little preoccupied, so I didn’t write about the huge market drop on that day).

In a short paragraph I stated:

Figured I’d add my 2 cents to the fray of Bloggers talking about the problems on the Stock Market these past few weeks. Is this an opportunity to buy? Should we be selling? Is it time to crack open skulls and eat the goo inside? Don’t ask me, I am standing pat for now, and we shall see what happens. My portfolio is down a fair amount, but my feeling is, now is the time, just to “Not Look”. Remember most of my stock holdings are in an RRSP, and thus aren’t a short-term investment either. I am watching TD with intent.

I do like the line, “…Is it time to crack open skulls and eat the goo inside? …” (I stole that from Kent Brockman on the Simpsons), but I was a man of my world, I didn’t touch my holdings (and at the time I still held Nortel, that had not gone bankrupt quite yet). This market apocalypse did lead to my Best Financial Decision Ever, but only because I had money from my Severance Package to invest.

Always interesting to review the past, wonder when the next Stock Market Apocalypse will happen? Hope not soon.

 

 

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Elections, Heat, Cheap Oil, and #BestMoneyStories

Here comes the election (evidently)(maybe). Rumor has it that Prime Minister Harper may dissolve parliament and call an election for October the 19th, making this the longest election campaign (ever). Why? Maybe the MPs don’t want to come back from their summer break and to only have the election start after they have done a weeks work? I have no real reason, but I do know that as soon as Mr. Harper announces this, the three suspended Senators all start earning pay cheques again, so that is good, right? The theory seems to be (on why the election campaign is going to be so long) that the Tories want a protracted election campaign as they have more money in their war coffers? Another theory put forward is the Tories are giving either Mulcair or Trudeau as much time as possible to put their foot in their mouths? No matter what reason this is going to get pretty redundant, quickly.

Needless to say it is very hot in Ottawa, but it is almost August, and that is to be expected (and enjoyed, since I moaned so darn much last winter about how Cold it was). Haven’t seen anyone cooking on the road but it is still pretty darn hot.

If Oil stays below $50 a barrel, don’t expect the Canadian economy making a comeback any time soon. The break even for the tar sands is estimated to be around $90 (by some analysts)  a barrel, and if oil stays down not only Russia will be feeling the pain (Alberta will as well).  Interesting that gasoline continues to be well over $1.10 a liter here, even with oil being so cheap, but I would never imply price-fixing for gasoline, that would be irresponsible, wouldn’t it?

Windows 10 is finally here as well, do you have it yet? Do you like it? July is over as well, you do realize there is less than 150 days until Christmas, right?

Symantec CA

My Writings for Week Ending July 31st

It was International Tiger Day this week as well, but don’t tell any Dentists about it :

  • Are Employer Pensions in Canada Dying ? Stats Canada has some numbers that suggest the traditional concept of the pension is certainly changing, and the idea of your employer directly helping your retirement may be transmographying as well.
  • What are your Money Motivations ? I took a run at a motivational quote I found on-line, remember as each minute passes, you are 1 minute closer to the end of the  {Day|Week|Month|Year|Decade|Your Life}.
  • Rob Carrick was kind enough to include me in one of his Best Reads posts and included my oldie Surreal Paragraphs Found in Credit Card Statements, glad he pointed out I pay off my credit card bills.

Kobo Canada


The Holy Potato put up a great graphic on the Twitter Machine:


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Money Motivations

I read on-line a great motivational phrase:

“You will never have more time to achieve your goals than you have right now.”

This phrase is so true, for money, and unfortunately as you read this article, you now have less time than when you first started reading this article. Most motivational phrases like this (for me) are double-edged swords.

A better catchphrase to go with, on your financial journey, is the following:

“The best time to plant a tree was 20 years ago. The second best time, is right now.”

Which is more of a variation on my commentary about Golf (the best way to improve your golf game is go back 20 years and start golfing then)

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