On Friday Rosie unemployment numbers were released showing that Canada for the most part is rebounded well from the latest recession. To this end Premier Dalton McGuinty has begun to crow about how Ontario has gained 95% of the jobs it lost during the recession. However if you dig a little deeper this number is somewhat misleading. From the article.
TD Bank economist Sonya Gulati, who noted Ontario is one of five provinces that still haven’t reached pre-recession employment levels.
She predicts that will happen as early as this month — another 5,000 jobs are needed to close the gap — but said it’s only part of the story.
“When you take a look behind the numbers we do trail in terms of having part-timers and service-sector jobs . . . It could be someone who has been laid off in manufacturing and is working part-time.”
Getting the province to a situation where incomes and jobs are equivalent to pre-recession levels “is certainly going to take a bit of time,” she added.
Is McGuinty ignoring the inconvenient truth underlying Ontario’s unemployment numbers?