economy
FOUND WORK? IT’S A FULL-TIME JOB, PROB A slowing rate of job growth in Metro Vancouver masks what most would consider to be a positive compositional change: healthy growth in full-time work.
Changes in part-time employment have both voluntary and non-voluntary origins. Some people are forced to choose part- time work when full-time alternatives are not available to them or when life presents unexpected challenges. Meanwhile, others prefer part-time employment so they can spend more time in school, with their families, or pursuing their favourite hobby. From purely an economic/productivity perspective, there tends to be a bias in favour of full-time work, associated as it is withmore
permanent jobs and more hours worked than its part-time counterpart. Good news then that despite the slowdown in employment growth in Metro Vancouver through the end of 2019 and into early 2020, full-time employment expanded by close to 30,000 jobs on a year-over-year basis. While this has been contrasted by a net loss of 15,500 part-time positions regionally (compared to historical year-over-year growth), signs are pointing to broader-based employment gains through the remainder of 2020.
FULL-TIME JOB GROWTH NOT A PART-TIME TREND
40k
30.5k
30k
28.4k
24.9k
20k
10.3k
10k
8.2k
0k
-10k
-15.5k
-20k
PREVIOUS YR AVG
PREVIOUS YEAR
PAST YEAR
PART TIME
FULL TIME
DATA: PAST 12-MONTH CHANGE IN JOBS, 3-MONTH MOVING AVERAGE, UNADJUSTED FOR SEASONALITY
SOURCE: LABOUR FORCE SURVEY, STATISTICS CANADA
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