Friday, March 7, 2008

Decoupling Much?

Well, nationally, the labour market data looks just fine. A reasonable number of jobs added, split between public and private almost perfectly proportionately to those sectors share of total jobs. Wage growth continued to be excellent, and even the finance sector added jobs.

Meanwhile, the US economy
shed jobs, and there were negative revisions to the January and December data.

Strangely, the unemployment rate in Newfoundland jumped 0.9% in February, as the province dropped 1.9% of full time jobs over the month. This seems like a massive number, and merits some investigation over the weekend, stay tuned.

UPDATE: Can't find a single story. I concede the Newfoundland data are noisy, but still, seems like a ton - even if I am stupid enough to improperly read a table and report 1.9% instead of the correct 1.0%!

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