Employment stats not as positive as they seem
November's gains were all part-time jobs. Full-time employment has actually dropped
12/19/2001|hrreporter.com|Last Updated: 09/05/2003
At first glance, employment appears to be at a record level, with 13,900 new jobs added in November, according to Statistics Canada. Closer inspection reveals that the gains were all part-time jobs. Full-time employment actually fell by 43,000.
The service and retail sectors are adding people while large businesses are shedding workers.
In November there was a jump in the number of people looking work. This jump gave rise to a two-year high of 7.5 per cent unemployment (up from 7.3 per cent in October.)
One economist predicts that a slowing demand for goods and services will push Canada’s unemployment rate to 8 per cent by next spring, as companies cut back on staff in order to maintain profitability.