Comments: 129,000 jobs lost in January
Unemployment rate hits 7.2 per cent. Lets look at this in prospective. The population of the US is approx. 300 Million. Canada is around 30 MILLION. Therefore the job loss should be around 10% of the US. The US lost approx 600,000 jobs. CANADA should lose 60,000 jobs. They lost DOUBLE the US job loss! Canada job loss seems to be MUCH WORSE!
OTTAWA — The Canadian economy lost a startling 129,000 jobs in January, almost all full-time positions and a record single-month total, Statistics Canada reported Friday.
This brings the cumulative total for the last three months to 213,000 and pushes the unemployment rate to 7.2 per cent from 6.6 per cent.
"This is a bad report all across the range," said Derek Holt, vice-president of economics at Scotia Capital. "The time to be an optimist falls by the wayside with a report like this."
The single-month record loss was just over three times the consensus estimate of 40,000 among Bay Street economists. The economy lost 63,000 jobs and 20,000 jobs, respectively, in November and December.
"The recession deepened at the start of 2009 and we are likely to see the jobless rate rise above eight per cent by year end," BMO Capital Markets said in a note to clients, adding this "bleak" report will likely prompt the Bank of Canada to cut its key benchmark lending rate, at one per cent, at its next decision date in March.
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ReplyDeletethanks CAW for getting your workers unsustainable wages and benefits!
ReplyDeleteWhy do you believe government published figures; both the US and the Canada ones?
ReplyDeleteFor instance, if the US is not publishing their true figures, which might be higher, then the logic you posted does not hold water.
What one can say, however, is that a lot of people are losing their jobs, and we need to plan for all of this.
It is just like the Government published CPI figures. They are cooked and not showing through cost rises. For instance, have a look on the internet for 'shadow statistics'. I'm also soon going to create a blog for the simple reason of showing how ordinary goods like groceries are changing prices over the next few years. That way, one will clearly and with lots of transparrency see how real CPI is not that of the government CPI.
Who said I believe government figures? Unemployment rate is at least 15%-17%. We know that. I was comparing the job loss in Canada comparing population. Perfect logic. Canada lost more jobs per capita than the US.
ReplyDeleteI think any reader of this blog or anyone informed of the truth knows that this is just getting warmed up, even if we use the fake government numbers. I wouldn't be surprised if we saw 40-50% real unemployment. Only the holders of real assets and commodities will survive.
ReplyDelete