The Bank of Montreal's Deputy Chief Economist Douglas Porter reported on the November edition of the Canadian Employment Report and I think the findings will shock and amaze:
This was a service-sector led surge, as goods-producing industries fell 6,200. There were declines in both manufacturing (-19.6k) and construction (-8.4k). On the positive side, big gains were registered in accommodation & food services (+28.3k…so bars and restaurants aren’t being hit that hard by the NHL lockout!), retail & wholesale trade (+25.3k), professional and technical (+22.8k), and health care & social assistance (+10.9k).
Well, that is quite the shock but I guess those aren't the right kinds of bar and restaurant jobs. Gleeful emphasis is mine. I bet that these gains are not present in the provinces with NHL teams though:
Ontario (+32k), Quebec (+18k) and Alberta (+10k) all saw solid job gains, with each chalking up 0.5% increases in the month. Manitoba and PEI were even a bit stronger (per capita). However, three provinces did see job declines, with B.C., Saskatchewan and Nova Scotia all slipping --- although we doubt the weakness will be long-lasting in any of those provinces.
I guess we can chalk this up to another data point in favour of not providing public financing for sports franchises and their toys. Someone tell Detroit.
* glove tap to @JRMarlow for passing along this report