Chapter 2 -Media Article

"Holly Jolly Yule expected for retailers"
The Province -Wednesday, November 8, 2006

The Christmas season is bringing many open jobs in BC's job market in retailing positions. This year, it is expected that there will be a 7% increase of sales during Christmas. This will result in BC having the second-highest increase in December's retail sales in Canada. Also, the slowing pace of home sales in BC will leave people with more money in their wallets for more Christmas purchases. Sadly, it will mean credit-card balances and loans in BC will continue to "advance at an unhealthy pace, up about 10% this year from 2005" said TD Bank.

Throughout the country, holiday sales will increase to a respectable 6%. There is an estimate of an additional $1.6 billion spent in December at Canadian retailers. Certain stores such as home electronics (DVD Players, TV sets, etc), shoes, clothing, accessories, jewelry, sporting goods, books, and music are among the most popular items purchased during the Christmas.

On a separate report, the Conference Board of Canada views BC's economics prospects. BC's GDP will grow by 3.9% this year, but will slow down to 3.1% in 2008. Retail sales are expected to grow 7.1%. The jobless rate should average to 4.7% this year and down to 4.5% in 2008.

Relationship to Ch.2-Supply vs. Demand

Although the number of jobs available may not seem relevant to supply and demand, it does in theory. Demand is made by people that have the desire and ability to purchase a certain product. Usually the ability to purchase an item is through the exchange of money. Money is gained through working. A job is required to get paid work. In the end, jobs go hand in hand with supply and demand.

The increase of jobs available in BC is a great chance for the unemployed and teenagers to attain a seasonal job. Typically employers are less likely to hire people with a lack of experience. But now that retail sales are expected to grow 7.1%, there is considered a shortage of experience workers applying for a seasonal job. With this in mind, employers are more likely to hire people with little to no experience. For those with some experience, they will easily attain a job this Christmas. This increases the rotation of money. More people will have more money, and they will spend more. Demand for items they couldn't afford before will increase and the supply will more likely increase also.