There was another big swing in the job numbers in January. This may be just one of those aberrations or a suggestion that some of the job growth momentum has been lost. We really won’t know what this signals for a couple of months.
The big story in January’s numbers is how the month-to-month comparison varies from the year-to-year one.
At the end of January this year, there were almost 8,000 more jobs than on the same day a year earlier, but 2,800 fewer than at the end of December. And it wasn’t just part-time Christmas season jobs disappearing. The bulk were full-time spots. And it is a reflection of a significant decline in the overall labour pool – that is people are either working or seeking employment – which fell about 3,000.
Whether those 3,000 people just left the province or were feeling so good about their financial situation they didn’t need to work is unknown. But since the report says the overall population rose out-migration is probably not the problem. Most likely it’s the bugs that have been plaguing job number collection.