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Unemployment Rate 6.2% January 2012
Number Employed Plummets 8500
The most recent statistics for the unemployment rate in Nanaimo on the one hand looks promising with the rate of unemployed dropping from 8.5% in January 2011 to 6.2% in January 2012.
However, the troubling fact is the number of people acutally employed dropped from 52,800 in January 2011 to 44,300 in January 2012. So where did 8500 jobs go? Does this mean 8500 people won the lottery and are no longer needing a job?
Statistics sometimes raise more questions than answers, but it seems logical that anyone needing to find family supporting work is simply not going to stay where there are few jobs. Which means the decline in the workforce by 8500 could be due in part to people simply leaving the area.
As stated before, Nanaimo could have a 0% unemployment rate, if all the unemployed simply left town. I'm not suggesting that is what they do, but rather how there is much more to these numbers than meets the eye at first look.
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