Here we go with another big swing in the monthly job numbers. It is getting to the point where we can’t really rely on this particular metric to help us understand the current marketplace.
The numbers revealed late last week showed a decline of more than 4,000 jobs for the month. But on a year-over-year basis they were relatively unchanged. It seems the annual assessment is the one worth looking at as the monthly figures are simply too volatile and seem to be reflective of nothing that is actually going on in the marketplace.
According to StatsCan, we lost almost 8,000 full-time jobs in July. Though we gained nearly 4,000 part-time jobs and saw the number of people in the workforce decline by a couple thousand. It is difficult to put much credence in any of those figures for two reasons: First, we have seen similar swings both up and down for the last six month and, quite simply, the market is not changing that much. It is certainly not changing to the tune of 3,000 to 5,000 jobs in either direction when compared to the previous month.