500,000 Canadian jobs lost under Conservatives during the past year alone
Robert Peffers
Stephen Harper promised Canadians that if they re-elected him Prime
Minister, there would be no recession in Canada!!!. One year later not
only is Canada among the minority of G7 countries who haven’t escaped
recession, our economy has lost over half a million jobs!!!.
Job numbers fell 70,300 last month, partially offset by 27,500
Canadians declaring themselves self-employed. From October 2008 to
October 2009 the Canadian economy has shed 503,500 employee positions.
Jobs for women and youths were particularly hard hit over the past
month, accounting for the
bulk of October’s job losses. This should come as no surprise as
Stephen Harper's Conservatives only
really care about the welfare of their primary grassroots voting base:
suburban and rural, middle aged,
White Males in English Canada; women, visible minorities, aboriginals,
Quebecois, city dwellers,
and youth must play second fiddle to Stephen Harper's aforementioned
primary constituency.
While Alberta Redneck Stockwell Day was quick to declare the recession
over last July, Canadian families suffering from job losses were
looking for a real job creation plan.
The GDP numbers released last Friday showed a decline in economic
activity in August, contradicting Conservative claims that 90 percent
of the economic stimulus package was already underway and creating
jobs.
-Robert James (Auld Bob) Peffers
Jobless rate spikes as manufacturing hit hard
Iain Marlow
Business Reporter
Published On Fri Nov 6 2009
The job numbers for October are out and they are bleak.
After two months of moderate growth, employment across the country
dropped by 43,200 jobs, all of them part time, Statistics Canada said
on Friday.
The drop-off pushes Canada's unemployment rate up 0.2 per cent to 8.6
per cent, a number that many predict will continue to climb until it
hits almost 10 per cent in 2010. This erases the positive growth in
September of around 30,000 jobs and demonstrates that employers are
still hesitant to take on new hires in this dismal economic
environment.
Down south, the news was even more grim, with the United States'
unemployment rate already reaching into the double digits at 10.2 per
cent, the highest since April 1983.
In Canada, most of the month's disappointing decline came from retail,
wholesale, natural resources, and "other services," and the data,
contained in Statistics Canada's Labour Force Survey, showed that
women aged 25 and older and youths between 15 and 24 accounted for all
of the job losses.
"October was a reality check for a Canadian labour market that had
been seeing a lot of hiring without much to show for it in terms of
production," wrote Avery Shenfeld, CIBC World Markets' chief
economist. "October's report hinted that the earlier run-up may have,
in part, been statistical noise... Put the last three months together,
and the trend shows very small net hiring on average, a result that is
much more consistent with the limited growth we've thus far seen in
economic output."
"Today's release of negative job numbers for October undoes much of
the surprisingly strong reported improvement in September," said Erin
Weir, an economist with the United Steelworkers, in a morning note.
On the thin plus side, construction jobs were up, as were
transportation and warehousing, while the manufacturing sector
continued to fare poorly. "The ongoing pressures to Canadian
manufacturing remain evident as inventories continue to be drawn down
and firms remain hesitant about boosting production," TD Bank
economist Grant Bishop wrote in a note.
The damage was also worse out west, with 15,000 jobs lost in Alberta,
which has suffered the steepest rate of decline of all the provinces
since the economic crash, and a decline of 13,000 in British Columbia.
"Other pockets of employment growth were construction, education and
health care, which supports the notion that government stimulus is
currently the only job creator," Weir wrote. "However, a declining
number of public-sector employees contradicts this hypothesis."
Rising unemployment in the early stages of a timid recovery from
recession is not considered unusual, but the October data revealed
unusual weakness given the hopeful signals of the previous two months.
Not only did 43,200 jobs vanish into thin air in October – the result
would have been worse without the pickup of 27,500 in self-employment
during the month.
That meant there were 70,700 fewer actual employees in October –
45,200 fewer in the private sector, and 25,600 less in the public
sector.
In a weak economy, economists discount self-employment gains as mostly
involuntary, the result of enterprising Canadians who have tried but
cannot find regular employment.
Since employment in Canada peaked in October 2008, the economy has
shed around 400,000 jobs. But the latest numbers, Weir writes, show
the first full year of employment data since the economic crash took
hold. And the conclusions are not positive.
"A sectoral breakdown implies a disproportionately large loss of
relatively good jobs," Weir writes. "More than half of the employment
decline, 218,000, was in manufacturing. Construction and other goods-
producing industries eliminated a further 112,000 jobs. The entire
service sector shrank by 70,000."
Not all the details in the October data were gloomy, however.
Statistics Canada noted that all of the job losses were part-time, and
that, including self-employment, there was a net increase of 16,500
full-time jobs.
As well, hourly wages were 3.3 per cent higher than a year ago, well
above Canada's official inflation rate.
But that's where the good news ended. The agency said the October data
pushes the job loss total since October 2008, when the global
recession began in Canada, to 400,000, or 2.3 per cent of the labour
force.
The employment decline in the private sector has been more
precipitous, a 4.1 per cent fall.
"Since October 2008, employment has fallen in most industries, with
the steepest declines in manufacturing (-11 per cent), natural
resources (-11 per cent), construction (-5.8 per cent), and
transportation and warehousing (-5.8 per cent),`` the agency said in a
note.
On the plus side, construction jobs edged up, as did transportation
and warehousing, while the weak manufacturing sector was mostly
unchanged.
Regionally, Alberta, British Columbia and Newfoundland suffered the
greatest number of job losses proportionally.
With files from The Canadian Press
http://www.thestar.com/business/article/722102--jobless-rate-spikes-as-manufacturing-hit-hard
frederick
"Robert Peffers" <auldbobp...@gmail.com> wrote in message
news:306c955f-c23a-4b93...@j9g2000vbp.googlegroups.com...
A little over a year ago, American Republican-style Conservative
Stephen Harper promised Canadians that if they re-elected him Prime
Minister, there would be no recession in Canada!!!. One year later not
only is Canada among the minority of G7 countries who haven�t escaped
recession, our economy has lost over half a million jobs!!!.
========
You sound supprised at the job loss. Gee whizz man ! dont you follow
history ! Dont you remember that labour reconciliation is the main
reason for recession. Rehiring of the work force is well planned to take
place over a period of several years After the last recession the
rehiring took place at about one and a half percent each year for about
five years
Archie
> "Robert Peffers" <auldbobpeffer...@gmail.com> wrote in message
This is different than past recessions. Since the 80s the
manufacturing has been moving abroad. And manufacturing is the engine.
Without it we have no means of getting back up.
Greenspan and the several bubbles have been staving off the
inevidible. In the background capitalists have been shipping off
America's and Canada's inheritence to Mexico and China. Bush and Obama
are trying to stave off the inevidible. But the inevidible is here.
The jig is up.
The unemployed in the USA now is at about 16 million. The situation is
dire. The Federal deficit needs taxpayers to relieve it - but where
are they? They are collecting tax dollars, not giving them.
Bush and Obama really screwed the situation by using stimulus money to
bolster the wealthy class. The erroneous assumption being that wealth
emanates FROM that class as opposed to the other way around.
For a graphic on how severe this situation is, look at this:
http://swampland.blogs.time.com/2009/02/06/how-bad-is-it/
As Springsteen's song says; these jobs are going boys and they ain't
coming back, to your hometown:
http://www.nytimes.com/2009/03/07/business/economy/07jobs.html
frederick
"Archie" <aken...@googlemail.com> wrote in message
news:8b8283d1-ec7d-421c...@h10g2000vbm.googlegroups.com...
On Nov 8, 3:12 pm, "frederick" <harve...@sasktel.net> wrote:
> "Robert Peffers" <auldbobpeffer...@gmail.com> wrote in message
>
> news:306c955f-c23a-4b93...@j9g2000vbp.googlegroups.com...
> A little over a year ago, American Republican-style Conservative
> Stephen Harper promised Canadians that if they re-elected him Prime
> Minister, there would be no recession in Canada!!!. One year later not
> only is Canada among the minority of G7 countries who haven�t escaped
> recession, our economy has lost over half a million jobs!!!.
> ======================
> ========
> You sound supprised at the job loss. Gee whizz man ! dont you follow
> history ! Dont you remember that labour reconciliation is the main
> reason for recession. Rehiring of the work force is well planned to take
> place over a period of several years After the last recession the
> rehiring took place at about one and a half percent each year for about
> five years
This is different than past recessions. Since the 80s the
manufacturing has been moving abroad. And manufacturing is the engine.
Without it we have no means of getting back up.
Greenspan and the several bubbles have been staving off the
inevidible. In the background capitalists have been shipping off
America's and Canada's inheritence to Mexico and China. Bush and Obama
are trying to stave off the inevidible. But the inevidible is here.
The jig is up.
======================
This recession is not so different than others . It was planned by
governments and will end whenever those governments choose to end it. Don't
you think that it was well known that exporting our manufacturing business
would cause difficulties for the labour forces.
The difference this time is that the unbridled runaway capitalism has hit
the wall. Governments are desparately trying to rework the system and get
it back on track. Some were forcasting an end to capitalism but it appears
that buy printing billions of dollars the system was realigned and will
go on to live another day
Canuck57
> On Nov 8, 3:12 pm, "frederick" <harve...@sasktel.net> wrote:
>> "Robert Peffers" <auldbobpeffer...@gmail.com> wrote in message
>>
>> news:306c955f-c23a-4b93...@j9g2000vbp.googlegroups.com...
>> A little over a year ago, American Republican-style Conservative
>> Stephen Harper promised Canadians that if they re-elected him Prime
>> Minister, there would be no recession in Canada!!!. One year later not
>> recession, our economy has lost over half a million jobs!!!.
>> ======================
>> ========
>> You sound supprised at the job loss. Gee whizz man ! dont you follow
>> history ! Dont you remember that labour reconciliation is the main
>> reason for recession. Rehiring of the work force is well planned to take
>> place over a period of several years After the last recession the
>> rehiring took place at about one and a half percent each year for about
>> five years
>
> This is different than past recessions. Since the 80s the
> manufacturing has been moving abroad. And manufacturing is the engine.
> Without it we have no means of getting back up.
While this recession is different than anyone alive today has
experienced, manufacturing always suffers. It is the depth abd breadth
of this recession that is different. My guess is it already is well
past early 1980's and will continue toward 1929 levels.
> Greenspan and the several bubbles have been staving off the
> inevidible. In the background capitalists have been shipping off
> America's and Canada's inheritence to Mexico and China. Bush and Obama
> are trying to stave off the inevidible. But the inevidible is here.
> The jig is up.
Greenspan is retired. He is all talk now, no longer in the drivers
seat. He even admits he and others screwed up big time in tinkering
with the loan business. That making lower interest rates made debt too
cheap and created a bubble.
Capitalists are just like people, they go for higher returns. No
differenly than people switch jobs for raises. Why work for less when
you can work elsewhere for more?
> The unemployed in the USA now is at about 16 million. The situation is
> dire. The Federal deficit needs taxpayers to relieve it - but where
> are they? They are collecting tax dollars, not giving them.
That is a conservative estimate, but I will go with it. It is also 16
million less taxpayers and government is spending more than ever before.
You don' have to be a rocket scientist to understand this isn't
sustainable and the reprecussions will be worse than anyone today
realizes. Sort of like you can't spend your way out of debt, it only
makes the problem worse.
> Bush and Obama really screwed the situation by using stimulus money to
> bolster the wealthy class. The erroneous assumption being that wealth
> emanates FROM that class as opposed to the other way around.
You should look at democractic lib-dim congress which is responsible for
this, but no mater who you blame, spending out of debt is a mathematical
impossibility.
> For a graphic on how severe this situation is, look at this:
>
> http://swampland.blogs.time.com/2009/02/06/how-bad-is-it/
>
> As Springsteen's song says; these jobs are going boys and they ain't
> coming back, to your hometown:
>
> http://www.nytimes.com/2009/03/07/business/economy/07jobs.html
It is why I call this the "Government/Debt Depression of 2008-20xx".
Being a realist, this is an economic depression. Obama and others can
sugar coat it with bullshit, but it is a depression.
Inflation is next. With GDP up 3% and jobs/employment down it is a sure
fire sign that inflationary costs are coming on line through the supply
chain. Goods are costing businesses more and it is being passed through
increasing the GSP while labour input shrinks. It will be slow at
first, but like the 70's double digit inflation is very likely.
Liberal-dimwits in Congress really screwed us all this time. Their lack
of basic dicipline in debt/bank management will go down in history as
the cause of this. If they really wanted to fix it, they will have to
change the mentality of cheap easy debt for real.
Just make sure you have the cash flow to survive this one, dirty
thirties lessons are repeating all over again.
Canuck57
> This recession is not so different than others . It was planned by
> governments and will end whenever those governments choose to end it. Don't
> you think that it was well known that exporting our manufacturing business
> would cause difficulties for the labour forces.
I will agree with this. This recession/depression was planned by debtor
governments.
Lets face it, debtor governments owe trillions, many, many trillions.
So much so many can realistically never afford to repay the debt and are
in fact bankrupt in technical terms.
So what a better way than to borrow cheap money at under 5%, lock it in
then have 30% inflation per year! This represents a 25% value
depreciation on the debt.
Inflation is also a tax on wealth, and government knows it. Say I buy a
cottage in the 70's for $30,000. Today I sell it for $1,000,000. The
value of the property has not changed one single bit. The cost has, but
not the value. It is the same size, same lake, same...same same. The
increased cost is a representation of inflation.
But you are taxed on the capital gains on something that really hasn't
changed at all. It is still the same old cottage.
Government knows this, but will not admit it, but it is how they plan on
dealing with the massive defunct government debt, devalue it. Trouble
is it isn't going to plan. Too many are getting good advise and staring
clear of loaning others money in what is sure to be value depreciation
for the lender. Better off in gold, silver, copper or even oil.
> The difference this time is that the unbridled runaway capitalism has hit
> the wall. Governments are desparately trying to rework the system and get
> it back on track. Some were forcasting an end to capitalism but it appears
> that buy printing billions of dollars the system was realigned and will
> go on to live another day
Nope, capitalism is adjusting to the dysfunctional state of liberal
statism government mismanagement of debt and mismanagemnet of currency.
Pure and simple.
Only Liberal welchers and debter welchers think differently. What we
need is the return of debtors court.