Canadian economy lost 88,000 jobs in January

Canadian economy lost 88,000 jobs in January

Postby CapitalB » Feb 9th, 2018, 8:26 am

Canadian economy lost 88,000 jobs in January

This is why having a job market built largely on part time temporary jobs working for companies that have a totally narcissistic abusive relationship with their employees is bad.
So much of the violent push-back on everything progressive and reformist comes down to: I can see the future, and in this future I am not the centre of the universe and master of all that I survey, therefore this future must be resisted at all costs.
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Re: Canadian economy lost 88,000 jobs in January

Postby christopher » Feb 9th, 2018, 8:39 am

[quote="CapitalB"]Canadian economy lost 88,000 jobs in January

This is why having a job market built largely on part time temporary jobs working for companies that have a totally narcissistic abusive relationship with their employees is bad.[/quot

I guess that's evey construction job in the world. If only we could all work for the government retire at 55 and collect a pension.
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Re: Canadian economy lost 88,000 jobs in January

Postby GordonH » Feb 9th, 2018, 8:41 am

Yep, christmas push is over those hired in November & December are let go. Happens every year its not new.
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Re: Canadian economy lost 88,000 jobs in January

Postby CapitalB » Feb 9th, 2018, 9:42 am

So your saying we regularly have the;

the biggest one-month slide in nine years


Sorry I'm extra glib in the morning. That makes it seem like our job market has been moving more jobs into the temporary employment zone.

What will be interesting is how it trends over the next few months. At the very least we now have thousands of people applying for EI, and we're still a few months away from the springtime upswing in temporary jobs.
So much of the violent push-back on everything progressive and reformist comes down to: I can see the future, and in this future I am not the centre of the universe and master of all that I survey, therefore this future must be resisted at all costs.

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Re: Canadian economy lost 88,000 jobs in January

Postby GordonH » Feb 9th, 2018, 9:49 am

CapitalB wrote:So your saying we regularly have the;

the biggest one-month slide in nine years


Sorry I'm extra glib in the morning. That makes it seem like our job market has been moving more jobs into the temporary employment zone.

What will be interesting is how it trends over the next few months. At the very least we now have thousands of people applying for EI, and we're still a few months away from the springtime upswing in temporary jobs.


Oh right, well it's not every year a major retailer closes it doors forever.
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Re: Canadian economy lost 88,000 jobs in January

Postby Glacier » Feb 9th, 2018, 9:53 am

Kathleen Wynne was warned this would happen if she raised minimum wage to quickly. But not to be outdone, BC is going to do the same over the next three years. I will bet anyone on here $5 that BC will not have the lowest unemployment rate once minimum wage is over $15/hour.

http://business.financialpost.com/news/ ... since-2009

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Re: Canadian economy lost 88,000 jobs in January

Postby CapitalB » Feb 9th, 2018, 10:56 am

Glacier wrote:Kathleen Wynne was warned this would happen if she raised minimum wage to quickly. But not to be outdone, BC is going to do the same over the next three years. I will bet anyone on here $5 that BC will not have the lowest unemployment rate once minimum wage is over $15/hour.

http://business.financialpost.com/news/ ... since-2009


The minimum wage issue is beyond tricky. The people at the bottom absolutely need to be making more, not just to survive but to be able to cycle spending money back into the system. Our social prosperity is largely dependant on people having disposable income. By which I mean an ever increasing portion of jobs exist to facilitate people spending money on things that aren't life necessities. Changing the minimum wage will have a weird effect on this that will probably just hide the underlying problem for a bit.

On the one hand the people working service jobs (the main type of job that pays out minimum wage) will theoretically make more money that they can then spend on more things.

On the other hand the places they'll be spending this increased money will be employing service workers and will likely increase their prices since business success means being more profitable than last year not just being profitable.

This seems like it'll just speed up inflation on food, and fun stuff.

I think a more beneficial setup would be to instead of increasing the minimum wage all the time we could have an income tax structure that at the bottom few percent of the income scale hits 0 and then turns negative effectively giving people money. Could still tie it taxable earnings to encourage people to keep working, this would also benefit people trying to transition into freelance lines of work by helping boost their income while they build their business.
So much of the violent push-back on everything progressive and reformist comes down to: I can see the future, and in this future I am not the centre of the universe and master of all that I survey, therefore this future must be resisted at all costs.
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Re: Canadian economy lost 88,000 jobs in January

Postby GordonH » Feb 9th, 2018, 11:05 am

Glacier wrote:Kathleen Wynne was warned this would happen if she raised minimum wage to quickly. But not to be outdone, BC is going to do the same over the next three years. I will bet anyone on here $5 that BC will not have the lowest unemployment rate once minimum wage is over $15/hour.

http://business.financialpost.com/news/ ... since-2009


Vast majority of minimum wage jobs are found in service industry. With the rise minimum wage to $15 per/hr lay-offs would happen, imo many of those jobs will come back. Reason customers are going to get very impatient with lack or slow service, trade off being possible increase in prices. impo
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Re: Canadian economy lost 88,000 jobs in January

Postby coffeeFreak » Feb 9th, 2018, 11:37 am

The link below leads to an interesting page to meander through and includes the following summary:

The unemployment rate in Canada increased to 5.9 percent in January of 2018 from an upwardly revised 5.8 percent in December and market expectations of 5.8 percent. Employment fell by 88,000, the most since January of 2009 as part-time employment declined by 137,000 while full-time employment was up by 49,000.

Employment declined for core-aged women (25 to 54 years old), as well as people 55 and older and youth aged 15 to 24. There was little change for core-aged men.

The employment decreased the most in Ontario (-51,000) and Quebec (-17,000) followed by New Brunswick (-5,800) and Manitoba (-3,600).

Jobs were shed across a number of industries, including educational services (-20,000); finance, insurance, real estate, rental and leasing (-18,000); professional, scientific and technical services (-17,000); construction (-15,000); and health care and social assistance (-11,000). On the other hand, employment increased in business, building, and other support services (+11,000).

In January, the number of employees fell in both the private (-71,000) and public (-41,000) sectors, while the number of self-employed workers held steady.

On a year-over-year basis, employment went up by 289,000 or 1.6 percent driven by full-time work (+414,000 or +2.8 percent), while there were fewer people working part time (-125,000 or -3.5 percent). Over the same period, hours worked rose by 2.8 percent.


https://tradingeconomics.com/canada/unemployment-rate

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Re: Canadian economy lost 88,000 jobs in January

Postby christopher » Feb 9th, 2018, 4:45 pm

GordonH wrote:Yep, christmas push is over those hired in November & December are let go. Happens every year its not new.

\

Suncor Fort hills is making oil so for sure 5000 guys got laid off in Dec/Jan. and The upgrader in Fort Sask, finished up.
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Re: Canadian economy lost 88,000 jobs in January

Postby Dizzy1 » Feb 11th, 2018, 1:23 am

christopher wrote:
Suncor Fort hills is making oil so for sure 5000 guys got laid off in Dec/Jan. and The upgrader in Fort Sask, finished up.

Fort Hills just produced its first oil the other week. Still lots of work to be done there. Site is running at around 8000 workers with more coming in during the coming weeks to finish up. Some will be laid off over the next few months but others come in to take over. Should still be another half year before it really starts to slow down nearing completion - after that, there’s still minor projects to be completed
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