Canadian (un)employment – the worst is yet to come

Here are the Canadian employment numbers courtesy of Statistics Canada that tell the story of 2014. Jobs losses were 4,300 with full time employment increasing 53,500 and part-time decreasing 57,700. For the year, employment rose by 185,700.

Canadian Labour Force (month/month and year/year)

Let’s keep in mind, however, that employment numbers are a lagging indicator. The drop in oil prices and the knock on effects in oil sands jobs will be reflected in the coming months. This is in turn should also see a multiplier effect in the form of housing and jobs dependent on growth in the resource sector.