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WHERE ARE THE JOBS IN
CANADA FOR JANUARY 2017
BY: PAUL YOUNG, CPA, CGA
FEBRUARY 10, 2017
AGENDA
• Summary
• Private Sector –vs- Public Sector Jobs
• Regional look (Provincial and Cities)
• Employment / Commentary
EMPLOYMENT / CANADA
Source – Stats Canada
• Employment rose by 48,000 (+0.3%) in January, building on gains observed in the latter part of 2016. The
unemployment rate fell by 0.1 percentage points to 6.8%. On a year-over-year basis, employment rose
by 276,000 (+1.5%), with most of the increase occurring from August to January.
• Following a significant increase in December, full-time employment held steady in January. Compared
with 12 months earlier, full-time employment was up 86,000 (+0.6%), with increases totalling 141,000 since
August. Despite little change in January, part-time employment was up on a year-over-year basis (+190,000 or
+5.6%).
• In January, 19.6% of employed persons worked part time, compared with 18.8% the same month a year
earlier. In the 12 months to January, the number of hours worked declined by 0.8%. In general, changes in
actual hours worked reflect a number of factors, including changes in the composition of employment by full-
time/part-time status, industry, occupation, age and sex
Source – Stats Canada
EMPLOYMENT / CANADA
Source – Stats Canada
BMO/EMPLOYMENT
Source – BMO Economics
Top 10 – Career Cities
Bottom 10 – Career Cities
SCOTIABANK / EMPLOYMENT
• Source - Scotiabank
But before elaborating on these cautions, it’s important to emphasize how strong this job growth has been
compared to the past. 239,000 jobs have been created in the Canadian economy over just the past six months. That
would make for a pretty decent full year! At an annualized pace, almost half a million jobs would be created in a full
year at this pace (478,000). We’ve never seen that in Canada since the Labour Force Survey began in 1976. Never.
The all-time annual record for job growth came in 1979 when 445,000 jobs were created in a much smaller
workforce with 40% fewer employed Canadians than today. Nevertheless, even when scaled to today’s larger
number of employed persons, the pace of job growth is still astounding at around a 2 ½% growth rate not seen
since at least the early 2000s when employment was growing by 2.3-2.4% during the dot-com era.
Facts:
• 71% of all the new jobs create are part-time
• Precarious work is the new norm
• Goods producing create 16,000 jobs in January 2017. Bulk o goods producing jobs came from construction
• Financial Services jobs have been created, but bulk of those jobs are part-time
• Jobs reports is good, but the underlining data needs to be reviewed
RBC / EMPLOYMENT
Source – RBC Economics
• RBC is taken a neutral approach due to fact New USA government policies are still unknown
• RBC did not mentioned carbon taxation (Ontario and Alberta)
• Commodity prices are rebounding, but there is little in terms of upside when it comes to demand
• More and more companies will be looking at expanding their business present with eCommerce.

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Where are the jobs in January 2017

  • 1. WHERE ARE THE JOBS IN CANADA FOR JANUARY 2017 BY: PAUL YOUNG, CPA, CGA FEBRUARY 10, 2017
  • 2. AGENDA • Summary • Private Sector –vs- Public Sector Jobs • Regional look (Provincial and Cities) • Employment / Commentary
  • 3. EMPLOYMENT / CANADA Source – Stats Canada • Employment rose by 48,000 (+0.3%) in January, building on gains observed in the latter part of 2016. The unemployment rate fell by 0.1 percentage points to 6.8%. On a year-over-year basis, employment rose by 276,000 (+1.5%), with most of the increase occurring from August to January. • Following a significant increase in December, full-time employment held steady in January. Compared with 12 months earlier, full-time employment was up 86,000 (+0.6%), with increases totalling 141,000 since August. Despite little change in January, part-time employment was up on a year-over-year basis (+190,000 or +5.6%). • In January, 19.6% of employed persons worked part time, compared with 18.8% the same month a year earlier. In the 12 months to January, the number of hours worked declined by 0.8%. In general, changes in actual hours worked reflect a number of factors, including changes in the composition of employment by full- time/part-time status, industry, occupation, age and sex
  • 5. EMPLOYMENT / CANADA Source – Stats Canada
  • 6. BMO/EMPLOYMENT Source – BMO Economics Top 10 – Career Cities Bottom 10 – Career Cities
  • 7. SCOTIABANK / EMPLOYMENT • Source - Scotiabank But before elaborating on these cautions, it’s important to emphasize how strong this job growth has been compared to the past. 239,000 jobs have been created in the Canadian economy over just the past six months. That would make for a pretty decent full year! At an annualized pace, almost half a million jobs would be created in a full year at this pace (478,000). We’ve never seen that in Canada since the Labour Force Survey began in 1976. Never. The all-time annual record for job growth came in 1979 when 445,000 jobs were created in a much smaller workforce with 40% fewer employed Canadians than today. Nevertheless, even when scaled to today’s larger number of employed persons, the pace of job growth is still astounding at around a 2 ½% growth rate not seen since at least the early 2000s when employment was growing by 2.3-2.4% during the dot-com era. Facts: • 71% of all the new jobs create are part-time • Precarious work is the new norm • Goods producing create 16,000 jobs in January 2017. Bulk o goods producing jobs came from construction • Financial Services jobs have been created, but bulk of those jobs are part-time • Jobs reports is good, but the underlining data needs to be reviewed
  • 8. RBC / EMPLOYMENT Source – RBC Economics • RBC is taken a neutral approach due to fact New USA government policies are still unknown • RBC did not mentioned carbon taxation (Ontario and Alberta) • Commodity prices are rebounding, but there is little in terms of upside when it comes to demand • More and more companies will be looking at expanding their business present with eCommerce.