Not all Jobs are Created Equal (Editorial Blog)

Just before Christmas, my colleague Elena Opasini, the editor of Hardware and Home Centre Magazine, interviewed Will Dunning, chief economist to the Canadian Association of Accredited Mortgage Professionals. In the interview, Dunning explained that jobs, affordability and consumer confidence were the cornerstones of a solid housing market and currently, Canada had all three. Elena took him to task on the "jobs" issue, a part of the good-economy discussion that I'm also having trouble with.

Today's newspapers are all carrying the results of Statistics Canada's latest data on jobs. The agency reports that in December the economy lost 19,000 jobs following seven months of gains. It is the largest monthly loss in three years. Here are some other figures from the report:

* The manufacturing sector has dropped 33,000 jobs.

* 10,700 public sector jobs were created

* 21,900 were added to the ranks of the self-employed.

Statistics Canada says that job growth for the year is 2.2 percent (370,000 jobs). In 2006, job growth was 2.1 percent. What the facts don't reveal is information on the quality of jobs being created versus the quality of the jobs lost. When a plant closes down are its employees finding work with comparable compensation and benefits? Or, are they moving to lower-paying employment in the service sector or "self-employed" sector (What are they self-employed at?)? Not all jobs are created equal and that impacts a family's income and what they spend in your store.

Here's a link to the video of Elena's interview with Dunning. The job question aside, he thinks it will be another good year for housing resells and renovations--and we hope, redecoration.

Editorial Blog

Commentary on retailing, shopping, consumers and the gifts and tablewares industry today by G&T editor Lori Smith

Not all Jobs are Created Equal

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