Showing posts with label BC Economy; journalism. Show all posts
Showing posts with label BC Economy; journalism. Show all posts

Monday, February 23, 2009

Do editors still exist at the Globe and Mail?

Although I realize that I am encroaching on Stephen Gordon's turf, I still could not let this bit of terrible economic journalism from Canada's newspaper of record slip by unnoticed:

After the downturn of 2009, the B.C. economy will slog through several years of low-grade misery, the economic equivalent of a lingering chest cold. The jobs market is particularly lethargic. The unemployment rate is to peak at 6.2 per cent this year, and then drifts back to down to 5.5 per cent by 2013. By itself, that muted recovery is unimpressive. Four years of economic expansion will not be enough to trim unemployment back to the 4.6-per-cent rate of 2008.
- From "After the deluge, BC faces soggy economy", Feb 20, 2009


Above is a picture of the BC unemployment rate from 1990 to January 2009. I don't think anyone looking at this graph would describe 5-6% unemployment as "low-grade misery", rather it is likely pretty close to full-employment for BC. The 4.6% rate for 2008 was a product of an overheated construction sector that is now unwinding. A skilled (or even semi-skilled) editor should catch that.