As is typical of mainstream financial media reporting, you need to scroll to the bottom of an article to see a comment by David Rosenberg regarding Canada’s recent unemployment numbers. I suppose putting the comment at the top would have raised too many eyebrows.
While Statistics Canada’s Labour Force Survey is telegraphing a jobs boom, its Survey of Employment, Payrolls and Hours (SEPH) is telling a different story, said Rosenberg, founder and president of Rosenberg Research & Associates Inc. In the latter report the number of employees receiving pay and benefits dropped by 58,000 in September. For the first time in five years payroll employment was “completely flat,” he said.
“In a sign that there is more slack in the Canadian jobs market than meets the eye … if we were to superimpose the SEPH employment trend on the LFS (household) survey, the unemployment rate would be 8.2 per cent, not 6.9 per cent — and that would be the highest since May 2021,” said Rosenberg.
What? A gov’t department tweaking numbers to make their masters look less shitty?
Say it ain’t so…
Lots of stats not telling the full story.
The headlines about September GDP being 2.6% were nonsense too.
No, could be true. They don’t add that inflation was over 3%, maybe 5%. Therefore no growth.
This year’s indexing for Federal pensions (including Veteran’s Pension) and OAS is only 2%. With inflation over 3%, it’s no wonder those who have only their benefits to count on can’t keep up!
It’ll be more interesting seeing the US government employment numbers next week. They haven’t reported in more than two months due to the government shutdown.
https://adpemploymentreport.com/
don’t have to wait for the US government numbers, unless you want to know about government workers.
Why does anyone believe any numbers coming from any government department, be it Statscan, environment Canada or the Office of budget whatever … The Prime Minister sets the standards …
a job is a job, even if you lose 10,000 full time jobs, and gain 10,000 part time jobs that only have 10 hours, you are equal according to the government.
And even if you do not gain 10,000 part time jobs, you can still model them
Chocolate Rations are up..
Stats Can is a perfect example of government.
Demanding your private information,under threat of violence,so that they can sell it..
Imagine if Stats Can was the perfect bureau,producing accurate honest numbers from which an intelligent person might capture a snap shot of Canada..
It would still be an utter waste of the tax payers time,for that information is destined be handed over to politicians..
Ignorance,innumerate posers..persons totally unable to use such information..
So it is fitting that Stats Can does such a piss poor job,they know it does not matter.
But they still come around threatening fines and or jail if you refuse to accept their blatant lies..
The first paragraph is such a Canadianism,promising complete confidentiality,followed by threats of jail if you should lie to them..the only way they could prove you to be lying,is by breaching your confidentiality..
Fire every one of them.
This year’s indexing for Federal pensions (including Veteran’s Pension) and OAS is only 2%. With inflation over 3%, it’s no wonder those who have only benefits to count on can’t keep up!