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February 02, 2018LABOUR FORCE SURVEY - SEASONAL ADJUSTMENT REVISIONS Statistics Canada has made their annual revisions to past Labour Force Survey's seasonal adjustment factors, affecting the last three years of seasonally adjusted data (2015-2017). Population data remain unrevised.
Nova Scotia's revised seasonally adjusted labour force survey results for December:
- Labour force was 493,800 (revised down 700)
- Employment was 454,200 (revised down 600)
- The unemployment rate was 8.0 per cent (unchanged from previous)
- The participation rate was 62.1 per cent (revised down 0.1 percentage points)
- The employment rate was 57.1 per cent (revised down 0.1 percentage points)
Changing asssessments of seasonal patterns have resulted in new estimates of seasonally adjusted labour force and employment from 2015-2017. There were downward revisions to labour force and employment for March of each of the last three years. There were also upward revisions in each of the last three years for labour force and employment in the months of August through November (except Oct-15). Employment has been revised down in the spring and early summer months of 2016 and 2017.
Changes in monthly employment and labour force estimates result in changing to the estimates of the seasonally adjusted unemployment rate. These adjustments are small, typically reducing volatility reported in the unemployment rate.
Revisions to seasonally adjusted monthly results for Nova Scotia's participation and employment rates have generally reduced volatility of these indicators. In 2017, both participation and employment rates have been revised down for the earlier months of 2017 and revised up for many of the later months of 2017.
Labour Force Survey results for January 2018 will be released on Friday, February 9th. DailyStats analysis will include updated data.
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