It ain't easy to spin dismal job numbers

The Conservative government relied on a familiar refrain to try to spin its way out of Friday's awful jobs report released by Statistics Canada.

First, the facts:

 

Second, the analysis from Bay Street:

  • "Scotiabank note calls jobs numbers a shocker, weakest job growth by far since the recession."
  • "Disappointment across the board," said Mark Chandler, head of fixed income and currency strategy at RBC Capital Markets.
  • "That full-time employment growth is nearly flat in the past year while part-time job growth is up 2.5 per cent 'indicates that businesses are not eager to expand payrolls,'" said Arlene Kish, senior principal economist at IHS Global Insight.

 

Third, a recap of past Conservative spin:

Whenever faced with bad economic news, the Conservatives claim that Canada leads the G-7 in jobs and economic growth since the recession. They make this misleading statement by using selective statistics.

When population growth and purchasing power are taken into account to get the complete picture, Canada falls behind G-7 countries Germany, Japan and the United States. That's fourth place (out of 7!).

 

Fourth, the go-to spin:

Watch Industry Minister James Moore try to spin the bad news using the "Yah, but we're still #1" discredited stat.