Friday, December 07, 2012

Nanaimo Unemployment Rate Nov. 2012

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Lowest Jobless Rate In Years @ 3.3%
Does It Seem Accurate?

BC Stats have just released their jobless numbers for the month of November which shows Nanaimo has the lowest jobless rate in years at only 3.3%. A little over a year ago we were told we had a jobless rate of the order of 16.3%.

Once again, I find it necessary to question the accuracy of these statistics and point out the sample size for this stat is quite low, with a sample of less than 200. One thing which would not be clear from this statistic alone is how many people no longer qualify for unemployment insurance and who now rely on social assistance. These people would no longer be considered in the workforce and would therefore reduce the number of people in the workforce which would result in a lower % looking for work.

As much as this would seem to show Nanaimo is headed in the right direction it does seem contrary to the number of people now relying on the food bank and other agencies for help. It would not relfect people who are traveling to northern BC or Alberta where they are employed, but still living in Nanaimo.
Some Nanaimo Employment Statistics From BC Stats
November 2012
52,500 Employed
3.3% Unemployment Rate

January 2011
52,800 Employed
8.2% Unemployment Rate

2010 Yearly Average
52,100 Employed
7.8% Unemployment Rate

The above group of stats show Nanaimo is still employing 300 fewer people in Nov. 2012 compared with Jan. 2011, yet the unemployment rate has plummeted from 8.2% to 3.3%. What can you possibly conclude from that?


1 comment:

  1. I can conclude that people are working away in Alberta. At least that seems to be the case with many, many families I know.


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