Odds and ends

The latest employment numbers are out and the NB economy added 2,000 people to the employed ranks in October. But what is interesting is that 6,000 people entered the workforce. Looking at previous months this doesn’t seem to be any kind of a trend but it is interesting that the month the province started the stay in NB to work campaign 6,000 people entered the workforce but only 2,000 found jobs.

Like I said you can’t do any serious analysis based on one month but if the labour force keeps growing well above the read of employment growth you get the high unemployment numbers. NB is now sporting an 8.8% seasonally adjusted unemployment rate which is third highest behind PEI and NL.

There was a big drop in NB’s non-residential construction building permit value in September.

I thought this was interesting. NB’s GDP growth underperformed the national average for five of the last seven years.

Collective corporation pre tax profits are up 73% over the seven year period compared to 60% nationally.

Personal disposable income is up 25% in New Brunswick during the seven years well below the national growth rate of 34%.

Disposable income is total income less taxes so it would stand to reason that overall tax collection in New Brunswick would be declining slower than the national average and this is correct (24% versus 30% growth over the 7 years).

It is interesting to look at this stuff when Stats Can provides a seven year trend.

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0 Responses to Odds and ends

  1. Anonymous says:

    The bright side of growth in unemployment is we will soon be able to revert to the ED strategy for low paying jobs and an over suppply of labour.

  2. Anonymous says:

    Increasing taxes, declining disposable income, growing unemployment. Growing gap in productivity growth. Low investment in R&D. Last in education. So many reasons to Be in this Place.

    We need leadership interested in saving the Province rather than political pandering. Someone brave enough to bypass the potholes and tourism information booth requests. Some interested in R&D, business attraction, and education.

    We do not have it yet. The by election had internet access for the last 3% of the population as a major issue to add to toll highways, auto insurance, gas tax and moose fencing as the significant issues to influence the leadership of the Province. Guess we will be able to safely and economically drive to Alberta for a decent job.

  3. Anonymous says:

    It appears we have reached the tipping point where the majority of voters are easily swayed by shiney nuggets like new asphalt rather than strong leadership in areas that might influence generations to come, like effective economic development strategy.

    I doubt a strong leader could overcome the competition from new pavement promises.

  4. Anonymous says:

    I have lived in five Canadian provinces and four continents, and New Brunswick is the ONLY place where I have seen governments taking office WITHOUT A CLUE of what they are going to do. The result is at least two years wasted with a myriad of consultations, task forces and consultant reports. It would be great if for a change both parties come to the next election with a program to show and then work to IMPLEMENT IT once elected. But I am afraid I am being naive…

    Some will argue that in a democracy you have to listen to everyone, but I beg to disagree. In a democracy the people has an opportunity to change things every four years or every time an election is called. For anything else, there is the law and the judiciary to ensure that the rights of the minorities are RESPECTED. It’s as simple as that. Everything else has name: pork barrel politics.

  5. mikel says:

    Actually, that’s not the case at all. The liberals have DONE lots, its just that a lot of people don’t like what they’ve done. Again, they have looked out for those with lobbying interests. Business interests are VERY happy and have no complaints, they’ve lied to voters, but what political party doesn’t lie to voters?

    Canada is not a democracy and never has been, New Brunswick operates the same as every province, a system of ‘responsible government’ in a constitutional monarchy. So it doesn’t have to listen to people AT ALL. And the byelection is proof of that. Just because the media talks about one issue and the candidates talk about a couple of issues doesn’t mean that is what the people are interested in.

    If they actually listened to people instead of companies then politics would look very different-which is why most democracies look VERY different.

  6. Anonymous says:

    “Actually, that’s not the case at all. The liberals have DONE lots, its just that a lot of people don’t like what they’ve done.”
    In what planet do you live? When was the last time you came to New Brunswick?

    Mikel, it’s nothing personal, but you really need to look after your Freudian desire to disagree with everybody. It’s starting to cloud your judgment…

    Here is a challenge for you: please tell us the top 10 achievements of the last three governments. I guess it won’t be difficult because some governments “have DONE lots”. And to make it “easier” for you, you can combine Liberal and Conservative governments. I am VERY INTERESTED to see what you consider to be good economic development initiatives. Good luck!