From November 2009, the October 2009 Unemployment and Employment Numbers.
Friday we found out that the growth in employment we had been seeing in the past two months was short lived and there are now 43000 less folks working than the previous month (not a heartening thought for those still looking for jobs). This seems to suggest that the optimism over the economy may have been a tad premature, given there are 43000 less jobs, and there are in fact more folks looking for jobs as well (less jobs and more lookers, is not a good thing).
Compared with the peak of October 2008, employment is down 400,000 (-2.3%), with the bulk of the decline (-357,000) occurring during the first five months of the labour market downturn.
This is just not a good statistic no matter how you look at it. This means there are more folks still looking for jobs and not finding them (again I count myself as very lucky in finding the job I did, when I did, as I do know of folks who are still looking).
Where were these losses?
Declines in the number of private (-45,000) and public (-26,000) sector employees in October were partially offset by gains in self-employment (+28,000).
Since October 2008, the number of employees in the private sector has fallen by 4.1%, a faster rate of decline than in the public sector (-1.6%). Self-employment, meanwhile, has increased by 3.9%.
Wow, more “self employed” but what does that mean? Are these people contracting, or are they finding something part time?
The Big Picture
Here is the big table, check it out:
|Sept 2009||Oct 2009||Sept to Oct 2009||Oct 2008 to Oct
|Sept to Oct 2009||Oct
2008 to Oct 2009
|thousands||change in thousands||% change|
|Both sexes, 15 years and over|
|Youths, 15 to 24
|Men, 25 years and over|
|Women, 25 years
Previous Months Unemployment for 2009
- Unemployment Up Sharply to 7.2% in January 2009 the impact of the great meltdown was starting to settle in.
- Bad Unemployment and No Pensions for February 2009 things were very not good back then.
- Unemployment Up Again to 8.0% March 2009 not too surprising really. March was still deep in the heart of the meltdown.
- Unemployment Up a Bit for April 2009 so these are the actual Unemployed count from Stats Canada
- More Folks on EI in April 2009 – a sad time still
- Unemployment Numbers up a Little – The numbers for June 2009
- For July 2009 Unemployment Rate Hovers – is this a plateau? Hard to tell.
- Better Employment Numbers September 2009 – shows that life started to get better as 2009 went on. We hoped.
- Less Employed in October 2009 8.6% Unemployed – OK so our hopes were dashed for a while.
- November 2009 Employment Numbers: A Festivus Miracle! a month early for Festivus, but good news, is good news.
- Nothing New on Jobs Front for December 2009 the year did not end with a bang unfortunately.