Pattie's Blog: Are employment numbers accurate?
Published Thursday, March 6, 2014 1:36PM EST
Last Updated Thursday, March 6, 2014 1:50PM EST
Ahead of tomorrow’s employment release for the month of February, the Canadian Labour Congress, or CLC, is asking Statistics Canada to change the way it reports on unemployment. The CLC says a deeper analysis of the data it collects would paint a very different picture of the country's labour market.
They aren’t saying the report isn’t accurate, but they are suggesting the economy simply hasn't created enough jobs, and those that have been created are disproportionately precarious…meaning more Canadians are unemployed or not engaging in the workforce.
The biggest omission to the report according to the CLC is underemployed. This represents those who are in part-time jobs but would like to be full-time, those who have involuntarily become self-employed and Canadians who are simply underutilized given their education and skill set.
If this data were accurately reflected, our 7% unemployment rate would be closer to 14% underemployment. An even bigger concern, for those in the 15-24 demographic – it would be almost 28% underemployment.
We have all heard of a recent university graduate who has found a job but not in the field they studied or the recent grad might be interning for free to build up their resume to increase the odds of finding a job in their field.
This isn’t anything new - youth unemployment is a concern but maybe with better data highlighting the underemployed it may lead to better job creation. At least the Canadian Labour Congress thinks so.
For now, the Canadian employment numbers will be released tomorrow and the expectation if for 16,800 jobs created in February and an unemployment rate of 7.0%