economy
THE GREAT SUPPRESSION: A DIFFERENT KIND OF RECESSION, PART I Part-time workers have shouldered a disproportionate share of the job losses in British Columbia in 2020.
The Great Recession of 2008-09 was particularly severe in Canada and in BC for the simple reason that all of the jobs losses—and then some—were, on a net basis, in full-time work. More specifically, while 127,000 employed persons in British Columbia were put out of work between June 2008 and March 2009 (again, on a net basis), 163,000 full-time workers lost their jobs, equivalent to 128% of the total employment decline. How could this be? Because during the period there
was actually a 36,100-job increase in part- time positions. In comparison to the changes seen during that recession is the observation that of the 103,400 jobs lost to-date province- wide during our current downturn (that is, between February and August 2020), almost two-thirds (63%) have been in part-time work. Compare this to the 23% of all jobs that were part-time prior to the commencement of the Great Suppression.
BC'S PARTTIME WORKERS BEARING THE BRUNT OF JOB LOSSES IN
50
50
36.1 36.1
0
0
-38.0 -38.0
-50 -50
-65.4 -65.4
-100 -100
-103.4 -103.4
-127.0 -127.0
-150 -150
-163.0 -163.0
-200 -200
GREAT RECESSION JUL MAR GREAT RECESSION JUL AR
GREAT SUPPRESSION FEB APR GREAT SUPPRESSION FEB APR
PART TIME PART TI E
FULL TIME F LL TI E
TOTAL T TAL
SOURCE: LABOUR FORCE SURVEY, STATISTICS CANADA DATA: EMPLOYMENT, THOUSANDS, UNADJUSTED FOR SEASONALITY
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