The numbers from Stats Canada on Friday were effectively unchanged, with Unemployment running at 6.8%, but there were some interesting tidbits in there if you chose to dig deeply to find them.
In June, gains of 65,000 in full-time work were offset by losses of 71,000 in part-time.
So we lost 6000 jobs, and they were part-time, month to month, so good and bad news in that we lost jobs, but we have more full-time jobs.
How do we compare to our friends down south?
In June, the employment rate in Canada (adjusted to US concepts) was 61.9%, compared with 59.3% in the United States. On a year-over-year basis, the employment rate was unchanged in Canada, while it increased by 0.3 percentage points in the United States.
So in terms of jobs, this talk of recession in Canada might be premature, but then again, recession has little to do with jobs (directly).
Some disheartening news in the report was:
Employment declined for youths aged 15 to 24 and increased for men aged 55 and over. There was little change among the other demographic groups.
Youth unemployment is still running at the 12% range, and for men 55 and over my concern is, that is me!
The graph keeps showing no change in unemployment for a good long while, is the Canadian economy stuck?
The Big Table
The big report this time is from Employment by class of worker and industry (based on NAICS1) – Seasonally adjusted, and Stats Canada is now making it easily changed for your needs:
| May 2015 | June 2015 | May to June 2015 | June 2014 to June 2015 | |
| thousands | thousands | change in thousands | change in thousands | |
| Class of worker | ||||
| Employees | 15,203.8 | 15,219.7 | 15.9 | 194.0 |
| Self-employed | 2,749.9 | 2,727.7 | -22.2 | -17.9 |
| Public/private sector employees | ||||
| Public | 3,566.5 | 3,608.7 | 42.2 | 75.8 |
| Private | 11,637.3 | 11,611.0 | -26.3 | 118.2 |
| All industries | 17,953.8 | 17,947.4 | -6.4 | 176.1 |
| Goods-producing sector | 3,871.3 | 3,869.4 | -1.9 | -11.5 |
| Agriculture | 292.5 | 287.9 | -4.6 | -16.4 |
| Natural resources3 | 354.8 | 358.3 | 3.5 | -8.2 |
| Utilities | 140.3 | 138.7 | -1.6 | 1.7 |
| Construction | 1,363.5 | 1,371.5 | 8.0 | 7.9 |
| Manufacturing | 1,720.2 | 1,713.0 | -7.2 | 3.5 |
| Services-producing sector | 14,082.5 | 14,078.0 | -4.5 | 187.6 |
| Trade | 2,739.8 | 2,742.4 | 2.6 | 14.9 |
| Transportation and warehousing | 924.2 | 931.7 | 7.5 | 35.3 |
| Finance, insurance, real estate and leasing | 1,111.8 | 1,116.8 | 5.0 | 39.5 |
| Professional, scientific and technical services | 1,353.9 | 1,360.8 | 6.9 | 24.6 |
| Business, building and other support services | 769.6 | 755.9 | -13.7 | 22.2 |
| Educational services | 1,283.5 | 1,283.6 | 0.1 | 44.4 |
| Health care and social assistance | 2,289.6 | 2,295.2 | 5.6 | 81.2 |
| Information, culture and recreation | 742.5 | 740.1 | -2.4 | -11.6 |
| Accommodation and food services | 1,222.8 | 1,214.1 | -8.7 | 20.3 |
| Other services | 762.8 | 746.0 | -16.8 | -62.8 |
| Public administration | 881.9 | 891.4 | 9.5 | -20.6 |
Note(s):
The sum of individual categories may not always add up to the total as a result of rounding.
Source(s):
CANSIM tables 282-0088 and 282-0089.
Reports from 2015
So far here are the employment reports on this site:
I read that article as well. It did not look that great and we are possibly going into recession. Well. I will think it as more buying opportunities. 🙂