Businesses rely on data to make decisions. They have to assess risk, examine trends and often turn to the federal agency StatsCanada for that information. But one bit of data it produces is difficult to embrace.
The monthly job numbers or labor force survey offer a snapshot into the relationship between workers and employers. For example, strong demand could trigger higher pay to attract workers but lately the data is becoming more questionable.
We got the January numbers showing Saskatchewan gained 4,000 part-time positions, signaling rising demand which would be good news for young people especially.
The problem is – last month we had another huge swing, losing 4,500 part-time positions. So over two months it was a wash either for employers on a hiring binge or trimming payrolls.
This data is compiled using a survey over the phone, in-person or electronically and when working with a small sample size in a province like Saskatchewan one or two outliers could produce skewed results even though the agency tries to edit their findings which they themselves call an estimate.
