Skip to main content

Employment up 28K

Although the headline number is better than May (where the number of jobs created was 22k) it is somewhat disappointing  first June is the month in which youth (temporary) labor spikes up in, as the students leave school and enter the job market to provide for beer money during the next school year.  Hence although 28,000 jobs were created the unemployment rate didn't budge at 7.4% -- it is a high participation rate that accounts for all the increase in the labor force.  Moreover, the bulk of the job creation was in part time work, as opposed to the may data that was mostly an increase in full time jobs.

On the 12 month rolling numbers 238,000 jobs were created (1.4%) which is actually an expression of strong economy (and removes the seasonal factor element of the equation).  Where the numbers get bad, 55k jobs were created in the public sector, and only 22k were created in the private sector.  apparently, it is self employed workers which accounted for the reduction -44k.  On a YoY analysis the bulk of the job creation has been int he private sector 159k, whereas the public sector accounted for 87k (self employed unchanged).  However, in terms of growth rate, the public sector growth rate is higher than the private sector.

Actually, the winning demographic for new jobs were women in the 25-54 age bracket this age group  accounting for 28k in new employment whereas other segments remained steady.    Although not a significant percentage of the labor force, construction saw little if any job growth in June, the bulk of the new jobs were in transportation and warehousing industry.

Overall the report says little as to Canada's economy, the bulk of new jobs are temporary in nature and the overall unemployment rate remains unchanged.  The positive aspect here is the increase in the labor participation rate, when individuals decided to enter the labor force, it is considered a positive sign of a healthy economy.

For more information, with pictures and everything see here

Popular posts from this blog

Ok so I lied...a little (revised)

When we began looking at farming in 2013/14 as something we both wanted to do as a "second career" we invested time and money to understand what sector of farming was profitable.  A few things emerged, First, high-quality, source-proven, organic farm products consistently have much higher profit margins.  Secondly, transformation accounted for nearly 80% of total profits, and production and distribution accounted for 20% of profits: Farmers and retailers have low profit margins and the middle bits make all the money. A profitable farm operation needs to be involved in the transformation of its produce.  The low-hanging fruits: cheese and butter.  Milk, generates a profit margin of 5% to 8%, depending on milk quality.  Transformed into cheese and butter, and the profit margin rises to 40% (Taking into account all costs).  Second:  20% of a steer carcass is ground beef quality.  The price is low, because (a) a high percentage of the carcass, and (b) ground beef requires process
Post a Comment
Read more

21st century milk parlour

When we first looked at building our farm in 2018, we made a few money-saving decisions, the most important is that we purchased our milk herd from a retiring farmer and we also purchased his milking parlour equipment.  It was the right decision at the time.  The equipment dates from around 2004/05 and was perfectly serviceable, our installers replaced some tubing but otherwise, the milking parlour was in good shape.  It is a mature technology. Now, we are building a brand new milk parlour because our milking cows are moving from the old farm to the new farm.  So we are looking at brand new equipment this time because, after 20 years of daily service, the old cattle parlour's systems need to be replaced.  Fear not it will not be destroyed instead good chunks will end up on Facebook's marketplace and be sold to other farmers for spare parts or expansion of their current systems. All our cattle are chipped, nothing unusual there, we have sensors throughout the farm, and our milki
Post a Comment
Read more

So we sold surplus electricity one time last summer...(Update)

I guess that we will be buying an additional tank for our methane after all.   Over the past few months, we've had several electricity utilities/distributors which operate in our region come to the farm to "inspect our power plant facilities, to ensure they conform to their requirements".  This is entirely my fault.  Last summer we were accumulating too much methane for our tankage capacity, and so instead of selling the excess gas, that would have cost us some money, we (and I mean me) decided to produce excess electricity and sell it to the grid.  Because of all the rules and regulations, we had to specify our overall capacity and timing for the sale of electricity (our capacity is almost 200 Kw) which is a lot but more importantly, it's available 24/7, because it's gas powered.  It should be noted that the two generators are large because we burn methane and smaller generators are difficult to adapt to burn unconventional gas, plus they are advanced and can &qu
Post a Comment
Read more