Thoughts on BC Politics and More

BC employment counts fell in November, pointing to weaker late-year economic conditions as strike action from postal workers reduced the headline count. According to the latest Survey of Employers, Payroll and Hours, total payroll counts in the province fell sharply by 15,010 positions (0.6 per cent) adding to modest declines seen in the prior two months. Both goods-producing industries and services-producing industries reported a 0.5-per cent-reduction (down by 1,924 positions and 9,932 positions, respectively). The job vacancy rate rose to 3.6 per cent in November, with total vacancies jumping to 91,065 positions, reversing the decrease registered in October. The job vacancy rate has remained low since the second half of 2023, highlighting a moderation in hiring by businesses ... CLICK HERE for the full story

... Statistics Canada said overall employment growth slowed in the second half of 2023, averaging 23,000 per month compared with 48,000 per month in the first six months of the year. The softer job market conditions came as high interest rates continued to weigh on economic growth ... CLICK HERE for the full story

... The excitement they imagine stems from the estimate there will be one million job openings in the next decade. That number has been in play for more than decade and whichever party is in power always hails it as a sign of a strong economy. But the excitement turns to something different when you look closer at the labour outlook. When the plan for filling one million jobs in 10 years is compared to the all-consuming housing crisis, there’s not much in the way of jubilation ... CLICK HERE for the full story

  If you don't like working-class populists, you're going to hate the white-collar populists     ... Although it’s of course true that many, perhaps most, of the winners in the modern economy are highly educated, there are still some who have succeeded without educational credentials and an even bigger share that are failing in spite of them.  The latter group—let’s call them “overeducated underachievers”—strikes me as crucial for understanding growing pessimism about the future, the rise of populism, and the anger and frustration that we’re increasingly seeing manifest itself in our politics ...   CLICK HERE to read the full story

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-t...