Oops, those tricky labour market stats

As you know, the provincial government has been using the lowering unemployment rate as its mantra about how much prosperity they are heaping on New Brunswick. They all but ignore population decline, very bad job creation levels, etc. but that unemployment rate, man, it’s a droppin’.

Oops.

The unemployment rate rose by 1/2 a point from January to February and now sits at 9.4% (seasonally adjusted). There is now a full 3 percentage point spread between New Brunswick’s unemployment rate and Canada’s (9.4% to 6.4%).

Now you know my opinion on this. Unemployment rates fluctuate over time and the real issue is total employment, population growth, etc. as opposed to the unemployment rate. Manitoba’s unemployment rate is 4.4% and it is hardly mentioned – because they happened to be more focused on the declining population.

But it is cute to see the one statistic the government hangs its hat on whittling away.

Watch for the Times & Transcript tomorrow. Either they will a) ignore the monthly figures altogether or b) find some way to shine them up.

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0 Responses to Oops, those tricky labour market stats

  1. Clinton P. Desveaux says:

    Well what is really sad to me is that our employment rate is so much higher then America, even places like Alaska but I could be wrong. Something needs to be done to free the market place north of the border.