Canada Just "Revised" All Of Its 2014 Job Gains 35% Lower

Tyler Durden's picture

Who can forget the farce conducted by Canada's labor statistics office back in August when, as we reported, "Canada Releases Atrocious Jobs Data; Then Revises It Above The Highest Estimate Following Public Outcry." It was then that we got our first hint that when it comes to massaging data, Canada is on par with China and even the US.

Well, Statistics Canada just outdid itself moments ago when it reported that those 185,700 jobs gains it had previously reported for all of 2014... well, it was only kidding, and after a second look, the number has been revised a whopping 35% (!) lower to only 121,300. How long until a lightbulb goes over the BLS' head and the US department of seasonal adjustments decides to do the same?

The "revised" numbers:

From Statcan:

Employment gains in 2014 amounted to 121,000 or 0.7%, with the bulk of the growth in September and October. In the 12 months to December, the unemployment rate declined 0.5 percentage points to 6.7%.

 

Following the release of population estimates based on the most recent Census of Population, a standard revision is applied to the Labour Force Survey estimates. This review is based on these revised estimates released today, which are different from those published on January 9 (see note to readers).

 

The employment growth rate of 0.7% observed in 2014 was the same as that of 2013, and below the rate of 1.8% recorded in 2012.

 

...

 

Employment growth in the year was concentrated among men aged 25 and older.

 

...

 

There were more private sector employees (+88,000 or +0.8%) compared with December 2013. The number of public sector employees and self-employed was little changed. Adjusted to the concepts used in the United States, the unemployment rate in Canada was 5.7% in December, while the US rate was 5.6%

Just like in the US, Canada's participation rate also declined:

The population aged 15 and older grew by 1.1% in 2014, a faster pace than employment. As a result, the employment rate declined 0.2 percentage points to 61.3%. The labour market participation rate trended downward throughout 2014, falling 0.6 percentage points to 65.7% in December 2014—the lowest since 2000.

 

The downward trend in labour force participation was partly due to population ageing. There was an increase in the share of Canadians aged 55 and older, who are less likely to participate in the labour market. Furthermore, the participation rate among people aged 55 and older declined 0.9 percentage points over the 12 months. At the same time, the rate for women aged 25 to 54 declined 0.8 percentage points, also contributing to the downward trend.

Finally, as a result of the above revisions, the Canadian unemployment rate was revised higher from 6.6% to 6.7%.

Perhaps it is about time to put the National Weather Service in charge of all "data collection and manipulation." And while we are at it, maybe we can put them in charge of the Federal Reserve too?

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Romney Wordsworth's picture
Romney Wordsworth (not verified) Jan 28, 2015 8:50 AM

Quel surprise eh?

Greenskeeper_Carl's picture

I'd love to get a look at the raw data the BLS uses. Pretty sure they just make all that shit up anyway.

spastic_colon's picture

no way that would ever happen / s

 

rosenberg may have to relocate back to the USA

Cognitive Dissonance's picture

The good news is now that they have cleaned their laundry they can start the manipulation game all over again.

ukspreads's picture

How long before the equity markets are also revised. "Oh yes, the Dow didn't actually fall 300 points yesterday" - WE JUST REVISED IT UP +350 (NYSE) RULE 1098

SWRichmond's picture

These people believe perception = reality.

Do they not believe at all in reality, or is it reality that they fear the most?

"Is there something I have in this office that I could hand to you that would kind of make you forget that you're holding those..."

https://www.youtube.com/watch?v=wXf_eaQcSdM

Paveway IV's picture

I wouldn't worry too much about it.

Big outfits always discount useless crap after the holidays to sell it. 

Save_America1st's picture

Let them know we still have Target in 'Merica

 

Are Canadians allowed to walk across our border and claim free shit from us too?

Oh shit...maybe I shouldn't have announced that.  The Mexicans will get pissed off. 

How rayciss of me. 

Divided States of America's picture

Big fuckin surprise EH?? This is Canada, a pathetic extension of the banana republic known as the US of A and run by a pro-semite known as Stephen Harper.

Along with the US of A, Canada is now becoming a safe haven for the Jews...because nobody else wants them in their countries.

asteroids's picture

As a Canadian, today is a day of shame. I thought we were better than Amerika when it came to issues like this. I guess we aren't. Pity eh?

Divided States of America's picture

btw, a fact. Stephen Poloz, the current Governor of the Bank of Canada, is an Ukranian Jew. another big fuckin surprise there EH? Obvious whose side Canada works for and this was confirmed when Harper told Putin to basically beat it in the G20 meeting last November. Oh Canada....Oh how you have stooped so low.

this Poloz is the same guy who tells young grads to work for free to put work experience on their resume while he surprisingly cuts interest rates to keep lining the bankers profits. Muthafucker

StandardDeviant's picture

Run along now; you'll be late for the Hitler Youth rally.

PirateOfBaltimore's picture

I can tell you I've never been part of a survey regarding employment.  Or any government survey besides the census.

 

It's probably all bullshit.

Cognitive Dissonance's picture

We could all voluntarily report our employment status on a daily basis.

Let's get several million people sending a daily email to the BLS and see if we can rattle the cage. :-)

Carpenter1's picture

Turn the 3 in 35% to a 7 and it's getting closer to the truth

TruthInSunshine's picture

BTFD & BTFR(ips)!

GDP Growth in US is 4%, China is 7.2%, Germany is 3.5%, Japan is 3.2%, South Korea is 5%, Canada & Australia are 3.2% each, and even Spain, Italy, France & GREECE are growing at 2.8%+ per year.

Hundreds of millions of high wage jobs are being created globally each year.

We're in EPIC Times!

Just buy everything!

Jlasoon's picture

The "Loonie" should shit itself today. 

Welcome to the recovery Canada. 

 

GetZeeGold's picture

 

 

35% Lower

 

Just a little.....hardly worth mentioning.

Romney Wordsworth's picture
Romney Wordsworth (not verified) GetZeeGold Jan 28, 2015 9:11 AM

close enough for government work.

Osmium's picture

Missed it by that much.

YHC-FTSE's picture

When I was a lad, Canadians were considered sober, polite people. Now most of their leaders look like neocons on crack, just like ours.

Spitzer's picture

The US has more control over Canada then some of its own states

GetZeeGold's picture

 

 

their leaders look like neocons on crack

 

Thank goodness for the progressives......they don't even know what crack is....except for our president of course.

XqWretch's picture

Fuck Canada. Overpriced, frozen, socialist fucking wasteland. The only thing good about Canada is the natural resources, which are becoming increasingly unprofitable to extract  in todays markets. Oh, and the Montreal strip clubs are pretty awesome.

Headbanger's picture

Crown Royal dude!

And curling!

And hockey!

And I'll take Canadian women over Merikans any day.

Osmium's picture

Canadian Club?  Canadian Mist?  Not as good as Crown Royal, but cheaper for us po folk.

XqWretch's picture

Id take any nationality over an American woman, but that wasnt my point. And I am pretty sure they can distill cognac anywhere on the planet.

Headbanger's picture

Yeah, you have a point there

But if you combed your hair right, nobody would notice....  Oh wait...THAT'S what the helmet is for!

papaswamp's picture

Come on dude the Chinese food on Victoria island is awesome.

youngman's picture

They used to have a great Strawberry jam that came in a can....blueberry too...but no more..it went out of business I guess

youngman's picture

also there is nothing better than cooking up a fresh Walleye pike fish filet that you caught just an hour before.....the best

Herd Redirection Committee's picture

Victoria Island!?!?!?!  Up in the Arctic! The one with 2000 people on it?

Oh, you meant Vancouver Island, and the city of Victoria...  Common mistake.

MeelionDollerBogus's picture

over-priced? Because of the lower cost of living what costs me 24k/year for total income would require you 3 times as much in the USA for the same or less.

Especially healthcare. Won't cost me more than $300 in a year at most out of my taxes, I'd bet.

Spitzer's picture

Canada is home of the most arrogant fools in the world when it comes to the subject of economics. There has been no reality here for over a decade

Jlasoon's picture

That housing market should ground quite a few people up there. 

 

Calgary home prices are already collapsing, watch the ripple effect. 

TruthInSunshine's picture

Canada is Krugman's wet dream: 50% to 80% income tax rates, 15% sales tax (national + provincial level), shitty cradle to grave welfare state benefits enslaving most of the population, a massive housing bubble the government keeps expanding, a rentier class society, & a 22 year wait for a knee operation.

oudinot's picture

Truth: You are an idiot. There is no 80% income tax rate in Canada!!

And our people live longer than you guys in the US, with about 1/4 the cost.

The only real measurement of health is longevity.

Martian Moon's picture

He should remove the word "income" before stating 80%, but if you include all levels of taxation (federal, provincial, municipal), permits, fees, etc... we are approaching 80% taxation for the highest income earners in the heavy taxed provinces (Quebec being the single worst tax region in all of North America)

Semantics

MeelionDollerBogus's picture

Probably not accurate on that count either as those who are less able to travel will pay more sales tax, those with higher income will buy things outside of Canada & avoid that sales tax plus know how to move cash so there's less income to pay tax on income or investments (and the poor will have no investments).

Deathrips's picture

At risk of sounding like a nationalist oudinot...ill defer to say you may need a ball kicking.

 

rips

MisterMousePotato's picture

"The only real measurement of health is longevity."

I was going to write a detailed, thoughtful response to this, but really? Is that necessary? I mean, c'mon ... think about it, man.

mtl4's picture

Classic......not a clue, but might as well throw together every stereotype/myth I can think of and hope it flies.

 

The income tax rates federally maxes out at 29% in Canada vs 39.6% in the US......provincial maxes out at 25.75% (Quebec).......so 29%+25.75% = 54.75% 

Now if you live in Kali and hit the max bracket then your income tax would be 39% + 13.3% = 52.3% (nearly the same as quebec and you get the healthcare bill too)

 

If you're in the upper 1%, then you're still better off in the US but for the rest of us, there are other options.

MeelionDollerBogus's picture

I'm torn - do I downvote for truth up upvote for /sarc?

22 year wait for knee surgery? Mine was in just 24 hours ahead of people getting heart surgeries. 80% tax? Mine's more like 13%.

But it was funny.

Just missing that we also barter maple syrup for access to doctors.

mtl4's picture

Boobs should always get an upvote.

firstdivision's picture

Their housing bubble collapse will actually put ours to shame.  This will be epic.

FranSix's picture

The chief statistician resigned from STATSCAN a while ago, because the Harper gov't wanted them to misreport the numbers.