Employment in Canada is up by a million … but that is hardly enough

one-in-a-million

“Employment is up by one million since the recession ended.”

A statement like this may indeed be a big talking point when Statistics Canada releases the results of its monthly Labour Force Survey on Friday.

While a million more people at work sounds like a lot, the Canadian population has also increased by roughly the same amount with the result that the fraction of Canadians working has been pretty well unchanged for the last five years, and has yet to return to rates before the recession.

A million is a big number, but it’s not enough to signal a complete recovery from the recession.

Continue reading “Employment in Canada is up by a million … but that is hardly enough”

Why there are better ways to measure unemployment

The state of the jobs market is best assessed by a number that is not given enough attention by Statistics Canada, and the many media reports based upon its monthly press release.

The headline attention is all soaked up by the unemployment rate and the level of employment, when it really should be something Paul Krugman—the Princeton University economist and New York Times columnist—calls his “favorite gauge” of the employment situation.

Continue reading “Why there are better ways to measure unemployment”