Sunday, August 15, 2010

The Great Canadian Economic And Employment Collapse

(from a Canadian reader)

Over the past few years the town of Smith's Falls, southwest of Ottawa, has lost 1,700 jobs. Hershey Chocolate took hundreds of jobs to Mexico, while Stanly Tools and the Rideau Regional Centre also closed down.
Xstrata Nickel in Sudbury terminated 686 employees, closed the Fraser mine and reduced production.
Ford Windsor engine plant closed, laying off 388 workers.
XL Beef in Moosejaw, Saskatchewan just laid off 200 workers and closed the plant permanently on Friday the 13th.
Since Lockheed Martin terminated the F-22 program, it faces up to 90,000 layoffs between them and their sub-suppliers over the next three years.
18 Vale steelworkers got their 'pink slips' by phone, while 75% of union members voted for a collective agreement that would eliminate 113 positions, but than number is "far from final".
Close to 390 employees are terminated at a Burnaby warehouse in February next year that distributes Safeway products.
SYSCO plans to lay off 950 steelworkers.
CTV in Halifax to lay off 26, with similar layoffs in technical fields at other CTV stations, including Vancouver.
CHAM radio in Hamilton reverts to country music and cuts a dozen jobs.
Canada lost 9,000 jobs according to the numbers, but when you figure that the 129,700 mostly part-time jobs created don't adequately balance off the 139,000 mostly full-time jobs lost, so the financial loss is actually much more than the 9,300 lost jobs would imply.


  1. Every Canadian that I know thinks our country is immune to a U.S. style meltdown. We arrogantly say that our banks are bettered managed and that the U.S. banking institutions were just poorly run. What MOST Canadians do not know is we are truly connected to the U.S. economy and we are only 2-4 years behind our neighbours to the south. Our recent housing boom, since The Bank of Canada guaranteed next to nothing loans for banks and protected them with the CMHC, is set to experience a slow down. People are still losing manufacturing jobs and part-time jobs cannot sustain average home prices of over 300+ thousand. It is just really a matter of time now!! I hope I am wrong, but you cannot keep creating something from nothing and this illusionary materialistic thinking is going to be a hard pill to swallow.

  2. The US is barely hanging on by a thread, but if Canada goes down I think that will trigger the last leg down here in the US. I have always considered Canada an escape country if things got to crazy in the US, but maybe there is no escape plan to the north.

  3. The Canadians are so ga damn funny - just who in thee hell do they think 80% of these companies are?

    Or maybe were is a better way to put it ?

    Hershey, Stanley, Ford, Lockheed

    Yessiree - we done gave 'em all away - but funny thing is - now they ain't even room fer the ones we done give away!

    It's fucking hysterical - it really is. If the people, companies and corporations that were thought of, patented, brought up & founded in this country hadn't been so fucking greedy -

    Well, I guess that's a different paragraph.

  4. This depression is global. If you haven't felt it yet, don't worry. You will.

  5. Thank god we have such stalwarts in Canada as Rotten Ronnie`s and Wal-Mart to rely upon. Keeps the memory of my late dad alive; who fought so valiantly for this great country of Canada in WW11. Nice to know it was not in vain...

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  7. There are trees in Canada. Lots of lumber. haha.

  8. And lots of energy--oil, natural gas, hydro electricity. And we're drowning in fresh water! Tons of minerals and metals yet to be found. Endless fields of wheat and so much land to grow it on. Lots of fish and game, too, all for the taking. Yeah, we're doomed.


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