Friday, December 02, 2011

Nanaimo Unemployment Rate Nov. 2011

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Nanaimo Jobless Rate Nov. 2011 6.6%

The number of unemployed in Nanaimo has fallen again to 6.6% from the October rate of 7.3%. All of which makes you wonder how accurate these numbers are and whether they reflect the reality of the job market in Nanaimo.

The following shows a steady downward trend in the Nanaimo jobless rate, which if accurate is good news, however, if the % of jobless is due to people leaving the local job market and going to greener pastures it does not paint as rosey a picture as if the local economy produced new jobs, or if employers re-hired workers. Finding an accurate answer to this question is next to impossible.

If Nanaimo's unemployment rate has really improved in recent months, why has the need at food banks and soup kitchens continued to rise? It doesn't seem to add up.

Follows are the jobless numbers for Nanaimo since July of this year:
  • July 14.5%
  • August 12.3%
  • September 9.8%
  • October 7.5%
  • November 6.6%

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