Canada loses 71,200 jobs in biggest employment drop in decade

Discussion in 'Canada' started by kazenatsu, Dec 7, 2019.

  1. kazenatsu

    kazenatsu Well-Known Member Past Donor

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    Canada’s job market unexpectedly weakened for a second-straight month, registering the biggest drop in employment since 2009 and casting doubt on the resiliency of the domestic outlook.
    https://business.financialpost.com/news/economy/canadas-economy-loses-71200-jobs

    Signs of an impending recession in the country?

    Canada's labor force is about 20 million, so that represents 0.36 percent of the labor force. But this is by month, so if you multiplied that be 12 you'd get 4.3 percent, which would be huge - like the difference between a great economy and a big recession. In other words, this was only over one month, but if that type of change continued for a full year, it would easily be a big deal.

    When there's a change this fast in just a single month, and it's not due to a specific big company closing down, it's worth taking notice of.

    Also, for anyone who doesn't think 4.3 percent would be a big deal, consider that the unemployment rate is only an indicator and reflects on the rest of the economy. While that might only be 4.3 percent more actually unemployed, probably three or four times that number would typically face lower wages or less opportunities, it's not really just all about the ones who are actually unemployed.

    So, to sum it up, this is kind of trivial and yet kind of important at the same time.
     
    Last edited: Dec 7, 2019
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  2. DennisTate

    DennisTate Well-Known Member Donor

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    I admit that I could be way, way, way, way off in my suspicions but.... I think that the nation of Israel holds several critical keys to the economic prosperity of Canada.... .and the USA...... and frankly for The Middle East........ and actually for the entire planet?!





    http://www.politicalforum.com/index...ter-mackay-flip-first.577193/#post-1071981742



     
  3. kazenatsu

    kazenatsu Well-Known Member Past Donor

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    Also keep in mind the article being discussed in the opening post of this thread was from just before the coronavirus (for the month of November 2019).

    From March to April 2020, Canada lost nearly 2 million jobs due to the shutdown associated with the coronavirus pandemic.
    https://www.cbc.ca/news/business/canada-jobs-april-1.5561001
     
    Last edited: Aug 21, 2020
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