Job Numbers Surprise
For the first time in a while, Statistics Canada gives us some good news on the job front. 74,000 net new jobs added in September, certainly nothing to sneeze at. Still, we would need to keep this pace up every month for the next year to close the employment gap left by the last recession.
On the graph below, this month’s huge uptick barely makes a dent. The blue line is how many jobs we have, and the dotted pink line is how many we would have if the employment rate were 63.6%.
This holds true for workers age 15-64 as well, but in terms of total employment is a bigger issue for men (it is still a he-cession). The potential job growth lines (shown as dotted lines on the graph), are based on pre-recession employment rates. A year and a half ago, women were very close to their potential employment rate, but the trend has fallen off a bit since then.
More women work part-time than men, for various reasons, but it’s often to accommodate unpaid care work or because they can’t find full-time work. The number of men and women working part-time involuntarily is higher this September than it’s been in a month of September since 1997.
And for young workers who are new to Canada, there has been no recovery. Â In the chart below I compare actual and potential employment for the months of September since 2006. To graph potential I use both the Canadian born young worker employment rate, and the new Canadian young worker employment rate.
Overall, recent immigrants have seen fewer jobs return. The unemployment rate for recent immigrants (less than 5 years) stood at 13.7%, compared to 6.5% for Canadian born workers. We don’t just need to create jobs, we need to create good jobs, and they need to be available to everyone.