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February 01, 2019LABOUR 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 (2016-2018). Population data remain unrevised.
Nova Scotia's revised seasonally adjusted labour force survey results for December 2018:
- Labour force was 493,800 (revised down 200)
- Employment was 459,000 (revised down 100)
- The unemployment rate was 7.0 per cent (down 0.1 percentage point from previous)
- The participation rate was 62.5 per cent (revised down 0.1 percentage points)
- The employment rate was 57.2 per cent (unchanged from previous)
Changing assessments of seasonal patterns have resulted in new estimates of seasonally adjusted labour force and employment from 2016-2018. There were downward revisions to labour force and employment for much of 2016 and 2017, with upward revisions concentrated in 2018. Employment has been revised upward between May and December of 2018, offsetting downward revisions during the Fall of 2017 through to the Spring of 2018.
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. 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. 2018 saw revisions in the upward direction for the most part.
Labour Force Survey results for January 2019 will be released on Friday, February 8th. DailyStats analysis will include updated data.
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