Stunning job growth in Canada during September - Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

Azure · 10-07-2011, 10:52 AM

Quote:

OTTAWA (Reuters) - Canada churned out a stunning 60,900 jobs in September, once again outshining the United States with an economy that is humming along even as other rich nations struggle with debt and slumping confidence.

The jobless rate fell unexpectedly to 7.1 percent from 7.3 percent in August, Statistics Canada reported on Friday, compared with a U.S. rate that has stayed stubbornly above 9 percent. The U.S. unemployment rate was 9.1 percent in September.

Adjusted to take account of the relative sizes of the two economies and slightly different statistical methods, Canada's gain in new jobs would be comparable to half a million new U.S. positions. U.S. employment rose 103,000 in September.

http://ca.reuters.com/article/busine...7961MY20111007

Maybe Forbes has a point when they say Canada is the #1 destination in the world for business right now.

And I took lowering taxes and creating a competitive business environment didn't matter.

CaptainCrunch · 10-07-2011, 10:57 AM

Awwww f%ck!!!

chemgear · 10-07-2011, 11:13 AM

Or perhaps not: Why Canada’s job report is misleading

http://business.financialpost.com/20...is-misleading/

The education sector added 38,400 jobs, despite there being no sudden surge in teacher hiring and related workers. The sharp increase in this sector was the result of the re-hiring of the contractual workers who are laid-off at the end of the school year and re-hired when the new one starts.

Self-employment also climbed 38,900, which seems to warrant some skepticism given the volatility of this component and its tendency to report a pick-up in self-reporting during soft spots in the economy. As a result, the economist doubt that self-employment’s significant role in raising the headline number is with substance.

But the figure that causes perhaps the most concern is the 0.3% decline in hours worked.

On top of the drop in hours worked, wage growth decelerated yet again. So while lower commodity prices may help consumers, falling wage growth is offsetting this, they warned.

“Paycheques are far more pressured than the headline jobs number would lead you to believe.”

Slava · 10-07-2011, 11:29 AM

Awesome....I knew that chemgear would find the bad news here for us!

chemgear · 10-07-2011, 11:38 AM

Quote:

Originally Posted by Slava

Awesome....I knew that chemgear would find the bad news here for us!

Heh, actually the Financial Post article was the first one I read this morning. I was thinking it was kinda silly to have what would essentially be a large drop in employment in the summer only to gain it all back in September. I don't think it's bad news - just how the numbers fall.

EDIT: Having a chance to read it through, the original article link from Azure mentions the caveats as well:

One caveat is that 38,400 of the new September jobs were in education, as teachers and assistants returned to work after summer layoffs. Statscan adjusts for seasonal factors - the unadjusted job growth in education was 242,000 in September - but says there has not been enough of a pattern in this sector to eliminate all summer fluctuations.

Besides the education distortions, they pointed to a rise of 38,900 in self-employment, which they described as soft, and among actual employees, private sector jobs fell by 14,900.

Calgaryborn · 10-07-2011, 07:30 PM

Well if your going to down grade Canada's report card you need to look at America's as well. Minus 45 000 from the 103 000 jobs created. They were only out of a job by collective choice. 45 000 Verizon workers went back to work in September after being on strike.
That leaves 58 000 new jobs created. I also wonder if some of that number like Canada's might represent teachers going back to work.

MrMastodonFarm · 10-07-2011, 07:51 PM

Quote:

Originally Posted by Calgaryborn

I also wonder if some of that number like Canada's might represent teachers going back to work.

???

Calgaryborn · 10-07-2011, 08:00 PM

Quote:

Originally Posted by MrMastodonFarm

???

Of the 58 000 jobs created in September in America I wonder how many might just represent education positions(teachers, bus drivers, ect.).

metallicat · 10-07-2011, 08:27 PM

Are teachers really considered unemployed during the summer? I doubt it.

Daradon · 10-07-2011, 08:39 PM

Teachers are not considered out of work in the summer. They get the same paycheques then that they do during the school year.

Calgaryborn · 10-07-2011, 08:47 PM

Quote:

Originally Posted by oilers_fan

Are teachers really considered unemployed during the summer? I doubt it.

I doubt if full time teacher are if they know they have a job in September but, part time teachers, school bus drivers, some Janitors probably are. I heard once that in B.C. teachers can take all their pay as it is earned or chose to have it paid equally over 12 months.

In any case the States might adjust for those things. I don't know. Fall usually means students going off to school which will open up some lower paid jobs for those who don't.

Rathji · 10-07-2011, 09:20 PM

Quote:

Originally Posted by oilers_fan

Are teachers really considered unemployed during the summer? I doubt it.

I know in my organization, we have a large number of people that work with the public and separate school systems in Calgary. We lay a bunch of them off every June and hire them back in September.

A lot more to schools that just teachers.

calumniate · 10-07-2011, 10:30 PM

What I want to know is how many babies are created in September. So many May babies around. Winter's coming!

Five-hole · 10-07-2011, 10:44 PM

What I want to know is why people pluralize nouns with an apostrophe.

Seriously.

Doesn't this look wrong? Noun's. There are several noun's on this page.

Christ.

calumniate · 10-07-2011, 10:55 PM

Sorry, was bugging me as I typed it.. have had a few. Time to go out and have a few more!

jammies · 10-07-2011, 11:00 PM

Winter IS coming = winter's coming.

chemgear · 10-07-2011, 11:17 PM

I've seen various ranges (90,000-150,000/month) that the US has to have every month in jobs growth just to keep pace with population/workforce growth.

Anybody ever see that number pinned down properly?

Lobotroth · 10-08-2011, 12:23 AM

Quote:

Originally Posted by calumniate

What I want to know is how many babies are created in September. So many May babies around. Winter's coming!

Ewwww, babies and coming. You're gross!

Azure · 10-08-2011, 10:58 AM

Quote:

Alberta continues to churn out jobs at a frenetic pace amid what one analyst described Friday as a period of "blockbuster" employment growth across the country.

The province's unemployment rate dipped to 5.4 per cent in September - from 5.6 per cent in August - following a fifth straight month of job gains, Statistics Canada reported Friday.

The federal agency recorded 8,600 new jobs, bringing to almost 98,000 the number of new jobs created during the past year.

Read more: http://www.calgaryherald.com/busines...#ixzz1aD6iwyAy

EDIT: Have to add this.

Quote:

"Private-sector job growth in the province was up a massive 8.8 per cent year-over-year in September, the strongest growth since 1981 and even outpacing growth seen at the height of the energy boom in 2007."

Flash Walken · 10-08-2011, 12:06 PM

Quote:

Originally Posted by chemgear

I've seen various ranges (90,000-150,000/month) that the US has to have every month in jobs growth just to keep pace with population/workforce growth.

Anybody ever see that number pinned down properly?

I can't find it now, but in the audio copy of the Economist, the august 22nd or 27th edition, they talked about Augusts jobless rate and how fishy those numbers are.

They then included the underemployed rate and it was an even more staggering figure. Something like a combined 21 percent.