Friday, April 13, 2012

What Are The Real Canadian Jobless Numbers


Click Link To View Table
 When All 'Groups' Are Factored 
The Unemployment Rate Rises To 11.3%

The above table from the Statistics Canada website shows what is referred to as 'supplementary' employment rates. 

Stats Canada explains:
"Although the official rate of unemployment is a key indicator of job conditions, no single measure can capture the complexity of the labour market. For this reason, supplementary measures of unemployment have been developed to shed further light on the degree of labour market slack and the extent of hardship associated with joblessness." 

So, while the 'official' unemployment rate for the country stands at 7.7% for March 2012, when you add in discouraged searchers, waiting group, portion of involuntary part-timers, that number swells to 11.3%.

To clarify discouraged searchers is self-explanatory, waiting group includes recall, replies, long-term future starts and involuntary part-timers includes employees who desire full-time work but are working part-time involuntarily.
 

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