A blogged briefly about the poor Ontario jobs numbers for June, but I said I would take a closer look so I am.
Total employment in June from Statscan was 6,900,800. That was down -0.5% from June and up 0.1% from the previous year. Considering that population growth was around 0.9% for Ontario currently, that's quite poor performance and problematic for tax revenues and GDP growth.
Here's the population numbers for the last six months:
Looking over the past six months, the numbers aren't great. Population is up 0.61% compared to overall employment up 0.35%. Considerably more disturbing is that full-time employment over the past six months is actually down 0.03%. That's not good for Ontario's GDP growth over the first half nor is good for provincial tax revenues, as Ontario's income taxes are highly reliant on surtaxes targeted towards those earning above the median.
Part-time was at least up 1.98%, although that indicates the jobs Ontario is creating are low paying part-time jobs that as mentioned earlier, don't pay a lot in provincial income taxes.