You may
have already heard the BC NDP government crowing about the latest employment
stats – if not I’m sure you soon will.
After all, the following sounds great, doesn’t it?
The unemployment rate in British Columbia was
4.1% in October, down 0.1 percentage points from September and down 0.8
percentage points from 12 months ago. The labour force (‑4,100) and the number
of employed (‑1,100) also declined from the previous month. Compared to 12
months ago, both employment (+48,400) and the labour force (+30,900) have
increased.
Well as
Mark Twain said … Facts are stubborn, but statistics are pliable. Heck, I have to admit I’ve even used the
actuals of stats, to make something sound far worse than it was.
That
said, the above quote from BC’s Labour Force Statistic DOES NOT tell the whole
story – and it’s the whole story that counts.
As Paul Harvey used to say, “And
now …… the rest of the story”
- there were 12,100 part-time jobs added last month (October) … but at the same time 13,300 full-time jobs were lost. To see real job growth that creates a healthy economy, BOTH OF THOSE NUMBERS should be on the plus side
- those 55 and older will be happy at having a better chance of finding work, than those in the 25 – 54 age demo. In the first group there was increased employment to the tune of 7,300 jobs. Unfortunately, it was not so good for those in the second group as seventeen thousand three hundred individuals LOST their jobs.
Or, a NET
LOSS of TEN THOUSAND JOBS!
Taking
a look at stats on the quickie round we have:
- public sector (government) jobs in October are down by 7,400 (I honestly find that very hard to believe)
- individuals who were self-employed increased by 6,500 – how many of those men and women however gave up trying to find full-time work and instead were willing to try anything to earn a pay cheque?
- the October workforce for men increased by 8,100 jobs … HOWEVER for women, it decreased by 3,400
Finally,
let me remind you that as Benjamin Disraeli said …. “There are three kinds of
lies: lies, damned lies, and statistics.”
In
Kamloops, I'm Alan Forseth. If you have a thought on this commentary, I
hope you will share it directly below in the Comments Section of the blog
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