On Friday Stats Canada came out with another happier Jobs Report, reporting that Employment Numbers up and the Unemployment rate down to where it was in 2008 (before all the economic silliness of the past few years). Their exact statement was:
Employment rose for the second consecutive month, up 43,000 in October. This pushed the unemployment rate down 0.3 percentage points to 6.5%, the lowest rate since November 2008.
Quite cheery numbers given it does not seem like we are in a big recovery, but these numbers suggest that at least we are back to where we were in terms of unemployment (if you believe those numbers, that is).
The unemployment graph looks quite encouraging:
The more interesting numbers are in the detailed sections, where Stats Can points out:
Compared with October 2013, part-time employment rose by 101,000 (+3.0%) and full-time employment was up 81,000 (+0.6%). Over the same period, the number of hours worked rose slightly (+0.4%).
So the economy continues to grow part-time jobs, how many of our young folks are working multiple part-time jobs to be able to live? That would be a very interesting stat, but the number of hours worked rose so that hints that there are more hours being worked at least.
The employment graph looks better as well (going up is always a good thing on these graphs):
Two more very useful tidbits from the report are:
In October, employment grew in retail and wholesale trade; finance, insurance, real estate and leasing; manufacturing; and educational services. At the same time, employment was down in public administration, ‘other services’ and natural resources.
The number of private sector employees and self-employed workers increased in October, while the number of public sector employees fell.
So less jobs in the Public Sector is a good thing (in my opinion), the more the Private Sector creates jobs, the less Public Servants, the less expensive Government becomes, which I think is a good thing (even as a Civil Servant ).
The Big Table
Yes, I always include one of the Big Tables associated with the monthly report, just because I love BIG numbers.
|September 2014||October 2014||Std |
|Sept to Oct |
|Oct 2013 to Oct 2014||Sept to |
|Oct 2013 to |
|thousands||change in thousands||% change|
|Class of worker|
|Public/private sector |
|Transportation and warehousing||878.6||886.7||14.6||8.1||21.3||0.9||2.5|
|Finance, insurance, real estate |
|Professional, scientific and |
|Business, building and other |
|Health care and social assistance||2,248.5||2,236.9||19.4||-11.6||40.1||-0.5||1.8|
|Information, culture and recreation||788.9||776.7||14.8||-12.2||-10.5||-1.5||-1.3|
|Accommodation and food services||1,196.9||1,190.4||17.1||-6.5||28.8||-0.5||2.5|