Stats Canada confirms this today in a report called: Survey of Employment Payrolls and Hours (SEPH). I bet you never heard of it because it's never quoted in the mainstream business media--Walter Derzko.
Yes critics will say that employment is a lagging indicator, but if we are in a booming economy, then employment should be booming too.This recession is unique in Canada and the US because we have millions of jobs that have been outsourced overseas. Unemployed workers don't tend to be great consumers.
No V shaped recovery in Canada yet if you look at Total Payroll employment > Stats Can
StatsCan Releases Payroll Employment, Earnings And Hours For January 2010
In January, total hours worked by payroll employees increased by 0.3%.(giving Part timers more work hours)
At the same time, non-farm payroll employment was virtually unchanged.
January's most notable job gains were in mining, quarrying, oil and gas extraction; construction; finance; transportation and warehousing; and health care. These gains were offset by losses primarily in the service sector, with the largest declines in public administration; arts, entertainment and recreation; educational services and "other services."
Number of jobs rose in several industries since the summer
In January, payroll employment in the construction sector increased by 2,500. Between August 2009 and January 2010, employment in this sector has steadily increased by 20,100 (+2.5%). The largest gains during this period occurred in building equipment contractors and foundation, structure, and building exterior contractors. Building material and supplies dealers, an industry with ties to construction, also posted modest job gains (+2,900) since August.
Payroll employment in finance industries has continued on an upward trend. Since August 2009, it has increased by 15,700 (+2.3%), with the largest gains in depository credit intermediation (banks and credit unions). Payroll employment was also up in non-depository credit intermediation (credit card and sales financing issuers).
In employment services, which includes placement agencies, temporary services and human resource management services, payroll employment has increased by 4,100 since August. Payroll employment also rose by 3,500 during this time in services to buildings and dwellings.
Since August 2009, there has been a gradual increase of 4,800 payroll jobs in support activities for mining, oil and gas extraction.
Continued gains in health care
Payroll employment in health care increased by 1,600 in January. Since August 2009, payroll employment has risen by 36,700 (+2.8%) in this sector, with most of the gains in offices of physicians, dentists and other health care practitioners; out-patient care centres; and home health care services. At the same time, there were fewer jobs in hospitals and nursing care facilities.
Note to readers
Unless otherwise stated, this release presents seasonally adjusted data, which eases comparisons by removing the effects of seasonal variations.
Every March, as part of the regularly scheduled year-end review of the Survey of Employment, Payrolls and Hours, seasonally adjusted data are revised using the latest seasonal factors. This year, all seasonally adjusted data going back four years (January 2006 onwards) have been revised and are available on CANSIM (Tables 281-0025, 281-0028, 281-0031, and 281-0034). The use of the latest seasonal factors had an impact on the date of the most recent peak of payroll employment, which is now August 2008, compared with the pre-revision peak of October 2008.
In addition, as part of the annual review, there were revisions to a small number of industries for the 2006 to 2009 period. The most significant affects are on the employment data for the following industries: depository credit intermediation; securities and commodity exchanges, and other financial investment activities.
Stability in manufacturing since August
There was virtually no change in payroll employment in manufacturing in January. In recent months, the pace of job losses in manufacturing has slowed considerably. Between August 2009 and January 2010, manufacturing jobs have declined by an average of 1,300 per month. This was well below the average monthly decline of 18,000 that occurred between August 2008 and August 2009.
Payroll employment levels have remained stable in motor vehicle assembly, motor vehicle parts as well as body and trailer manufacturing since August 2009.
Manufacturing industries experiencing notable declines in payroll employment since August 2009 include: meat product; pulp, paper and paperboard mills; and printing and related support activities.
During the same period, manufacturing industries with notable gains in employment include: seafood product preparation and packaging; beverage; petroleum and coal product; and plastic product manufacturing.
Growth in year-over-year average weekly earnings
Average weekly earnings including overtime of payroll employees rose to $834.47 in January, up 2.1% from January 2009. This was similar to year-over-year increases seen in early 2009.
During the same 12-month period, average weekly earnings fell 1.5% in retail trade and 0.4% in construction.
Among the provinces,
Comparing Survey of Employment, Payrolls and Hours and Labour Force Survey
These data come from the Survey of Employment, Payrolls and Hours (SEPH). SEPH is a business survey that provides a detailed portrait of employees by industry. It complements information from the Labour Force Survey (LFS), which is a household survey.
Estimates of employment, wages and hours derived from these two surveys differ for a number of reasons.
First, the reference periods are different. LFS data are collected during a "reference week," usually the week following the 15th of the month. For SEPH, the reference period is an entire month.
The LFS includes people who are self-employed, as well as workers who take unpaid leave. SEPH does not cover these groups. Industry coverage for the LFS is comprehensive; SEPH excludes agriculture, fishing and trapping, and religious organizations.
The two count multiple job holders differently. In the LFS, people with more than one job are counted only once as "employed." SEPH is a count of filled positions on payroll, so each job is counted separately.
Finally, national estimates produced by the LFS do not include people living in the three territories or on reserves while SEPH does. LFS estimates are based on where people usually reside. SEPH counts employees in the province or territory where they work, although this has little effect on the comparability at the national level.
Definitions, data sources and methods: survey number 2612.
Detailed industry data, data by size of enterprise based on employment, and other labour market indicators will be available soon in the monthly publication Employment, Earnings and Hours (72-002-X, free).
Data on payroll employment, earnings and hours for February will be released on April 29.
Updated Mar 31, 2010 Written by Statistics
Neural mechanisms mediating optimism bias
In a Letter / Nature / *450*, 102-105 (1 November 2007) | doi:10.1038/nature06280; by Tali Sharot1,2, Alison M. Riccardi1, Candace M. Raio1 & Elizabeth A. Phelps1
Humans expect positive events in the future even when there is no evidence to support such expectations.
For example, people expect to live longer and be healthier than average, they underestimate their likelihood of getting a divorce, and overestimate their prospects for success on the job market. We examined how the brain generates this pervasive optimism bias. Here we report that this tendency was related specifically to enhanced activation in the amygdala and in the rostral anterior cingulate cortex when imagining positive future events relative to negative ones, suggesting a key role for areas involved in monitoring emotional salience in mediating the optimism bias. These are the same regions that show irregularities in depression3, which has been related to pessimism4. Across individuals, activity in the rostral anterior cingulate cortex was correlated with trait optimism. The current study highlights how the brain may generate the tendency to engage in the projection of positive future events, suggesting that the effective integration and regulation of emotional and autobiographical information supports the projection of positive future events in healthy individuals, and is related to optimism.
People tend to make overly confident, positive predictions about the future, which are often inaccurate1,2. The tendency to expect good things in the future is known as optimism. Extreme optimism can be harmful as it can promote an underestimation of risk and poor planning5. In contrast, a pessimistic view is correlated with severity of depression symptoms3. A moderate optimistic illusion, however, can motivate adaptive behaviour in the present towards a future goal, and has been related to mental6 and physical7 health.