Private sector PUMMELLED as Canada sheds 11,000 jobs in August
- Thread starter mentalfloss
- Start date
The economy is good remember Harper saved us. Its coming to the end of a
cycle and another possible blow to the Harper government Too soon to tell yet
though. Tories are already in trouble
cycle and another possible blow to the Harper government Too soon to tell yet
though. Tories are already in trouble
How many of those 11, 000 jobs were students going back to school?....How many jobs lost due to end of quarter slowdown?....Many reasons jobs are shed this time of year...Wait 'til Oct/Nov.
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Net Full-Time Job(+-) Stat.is the only Job Stat.that need be stated.
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Net Full-Time Job(+-) Stat.is the only Job Stat.that need be stated.
From CTV
But some economists, uneasy after Statistics Canada badly botched its July job numbers, raised concerns about the latest figures.
The country's national number-cruncher was forced to issue a major correction to its employment survey last month after wrongly reporting that the economy gained a paltry 200 jobs in July. That number, Canadians found out a week later, was actually supposed to be 42,000. Statistics Canada blamed a computer error.
This time around, some economists were skeptical about the staggering job losses in the private sector and equally surprising gains in the number of self-employed people.
"Guess what? We again advise clients to be very careful with the Canadian jobs numbers," Scotiabank economists Derek Holt and Dov Zigler wrote in a note to clients.
They pointed out there has never been a bigger month-on-month rise in the number of self-employed people, or drop in private-sector jobs, since Statistics Canada started the labour force survey back in 1976. That those record-level monthly gains and losses just happened to almost cancel each other out in the August jobs' report seemed "very fishy" to the Scotiabank economists.
"What an utterly fascinating pair of coincidences," wrote Holt and Zigler.
"A data quality/sampling issue may be in play again here as I just can't believe such volatility in either number."
Read more: Surprising decline in Canada's unemployment report | CTV News
But some economists, uneasy after Statistics Canada badly botched its July job numbers, raised concerns about the latest figures.
The country's national number-cruncher was forced to issue a major correction to its employment survey last month after wrongly reporting that the economy gained a paltry 200 jobs in July. That number, Canadians found out a week later, was actually supposed to be 42,000. Statistics Canada blamed a computer error.
This time around, some economists were skeptical about the staggering job losses in the private sector and equally surprising gains in the number of self-employed people.
"Guess what? We again advise clients to be very careful with the Canadian jobs numbers," Scotiabank economists Derek Holt and Dov Zigler wrote in a note to clients.
They pointed out there has never been a bigger month-on-month rise in the number of self-employed people, or drop in private-sector jobs, since Statistics Canada started the labour force survey back in 1976. That those record-level monthly gains and losses just happened to almost cancel each other out in the August jobs' report seemed "very fishy" to the Scotiabank economists.
"What an utterly fascinating pair of coincidences," wrote Holt and Zigler.
"A data quality/sampling issue may be in play again here as I just can't believe such volatility in either number."
Read more: Surprising decline in Canada's unemployment report | CTV News
- Soon Self-Employed Status will include Ppl Denied E.I., Temp.Workers and Contractors.
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Net Full-Time Job(+-) Stat. is the only Job Stat. that need be stated.
How's the harvest coming Grump ? Are you guiding your membership to record profits ?
We can lame the NIMBYs and NOPEs for the poor jobs performance. We could easily have 10000 people working on pipelines, refineries and ports if we didn't get held up for decades with mindless drivefl and studies. Millions of person yesrs of work waiting while a few idle rich with nothing better to do have protests and group hugs.
Macleans: Canadian employment: this is getting ugly
When the latest employment figures from Statistics Canada hit like a ton of bricks this morning—the number of private sector jobs fell by 112,000 in August, resulting in an overall drop in employment of 11,000—the obvious first thought was: Should there be an asterisk on that?
We’ll know soon enough if another mistake has been made, but even if the employment report for August didn’t fit with what economists were expecting, it’s hardly out of line with what the Canadian economy has experienced in recent months. There have not been two consecutive months of net new job growth since October 2013. And, as this chart showing the 12-month change in employment reveals*, these new jobs figures are just part of a slowing trend that’s been underway since January 2013.
On an annual basis, job growth is probing depths not seen outside of a recession since the federal government took its deficit-fighting axe to the public service in the mid-1990s, or since the 2001 U.S. recession and 9/11 brought economic activity nearly to a halt.
Here are a few other employment highlights from August:
-The unemployment rate stayed at seven per cent.
-Since September 2013, full-time employment has grown just 0.03 per cent, the equivalent of 4,200 net new positions.
Canadian employment: this is getting ugly - Macleans.ca
When the latest employment figures from Statistics Canada hit like a ton of bricks this morning—the number of private sector jobs fell by 112,000 in August, resulting in an overall drop in employment of 11,000—the obvious first thought was: Should there be an asterisk on that?
We’ll know soon enough if another mistake has been made, but even if the employment report for August didn’t fit with what economists were expecting, it’s hardly out of line with what the Canadian economy has experienced in recent months. There have not been two consecutive months of net new job growth since October 2013. And, as this chart showing the 12-month change in employment reveals*, these new jobs figures are just part of a slowing trend that’s been underway since January 2013.
On an annual basis, job growth is probing depths not seen outside of a recession since the federal government took its deficit-fighting axe to the public service in the mid-1990s, or since the 2001 U.S. recession and 9/11 brought economic activity nearly to a halt.
Here are a few other employment highlights from August:
-The unemployment rate stayed at seven per cent.
-Since September 2013, full-time employment has grown just 0.03 per cent, the equivalent of 4,200 net new positions.
Canadian employment: this is getting ugly - Macleans.ca
I wonder where all the people are going every morning when I am stuck in traffic ?
Canada Has Dutch Disease, Bank Of America Declares
The world is certainly treating the loonie like it’s a petro-currency, Enenajor told BNN.
“The perception that it’s a petro-currency has strengthened over the past 15 years,” she said. Her report noted that every 10-per-cent increase in the price of oil translates into a "persistent" 1.2-per-cent increase in the value of the loonie.
The world is certainly treating the loonie like it’s a petro-currency, Enenajor told BNN.
“The perception that it’s a petro-currency has strengthened over the past 15 years,” she said. Her report noted that every 10-per-cent increase in the price of oil translates into a "persistent" 1.2-per-cent increase in the value of the loonie.
Perception of being an oil dollar? If it's just a perception, what's the real economic stabilizer?