Paul Martin's Business Update - December 9th

Paul Martin's Business Update - December 9th

The pace of job creation in the province is showing further signs of flattening out.

Last Friday the monthly tally of employment numbers for November was released showing little change from October. The total number of jobs fell about 1,600 in the month, all of them full-time positions. This leaves us with a year-over-year increase of 15,000, in the range we’ve seen for a long while.

The size of the provincial population and the pool of people available to fill job vacancies continued to increase. StatsCan does a monthly estimate of population numbers as part of the report and we were up about 1,600 residents over October. That too is roughly equal to monthly totals for the bulk of the last year or two.

When the population rises and the number of people holding jobs declines, we see an increase in the unemployment rate. It jumped about a half point from October which is a headline grabber, largely because we were at three-and-a-half percent last month and many consider five per cent to be full employment.

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