Growing the economy from the heart out.
Canada shed a net 88,000 jobs during the month, a sharp stop to a recent stellar performance that saw 2017 produce the biggest increase in jobs since 2002. The drop reflected a record loss of 137,000 part-time jobs, and a 49,000 gain in full-time work.
The employment drop coincided with an increase in the minimum wage in Canada’s largest province — Ontario. That fueled an acceleration of the national wage rate to an annualized pace of 3.3 per cent that was the fastest since 2015.
Oh well, at least the budget is balancing itself.
The real minimum wage is zero.
A comment stolen from the NP:
“Actually, and as someone else has pointed out – if all the villages in the world sent their village idiot to one “special” village – in that village, Trudeau would still be the village idiot.”
One of those times I think “Wish I’d have said that”.
When will a ‘little’ economic realism creep into what is quaintly referred to in Canada as a national discussion.
– CIBC study says 32% of Canadians between 40 – 64 years old have NO retirement savings. A comparable % are not meeting current expenses.
– 48% of Canadians cannot take a $200 per month increase in expenditure.
If this is not a crisis then what is? As much as I do not listen to politicians anymore I do not see mention of this situation in media or the yakky crowd.
Meanwhile the leader of this country trots off to Chicago and Hollywood to do what he apparently does best, smile. Yes, western Canada is in turmoil and requires national leadership but gets a weak kneed promise to ‘review’ things more carefully. $115 billion a year being left on the table because Canada cannot get world price for both oil and NG. Investors are voting with their feet as they desert Canada.
Conversion to USD$ is accelerating as even the most financially illiterate realize the CDN$ will come under international attack within the year. Inflation coming at a rate not seen since the ’80’s I am afraid. The BC vs AB fight is systematic to the inevitable clash within all Canada as the ‘meal ticket’ disintegrates. Quebec and the Maritimes have sucked at the federal teat since Equalization was dreamt up by you know who. Quebec apparently can afford a $6.5 Billion rebuild of transit while they take $11 Billion in equalization. That number does not include the total subsidy which is likely north of $25 billion.
Since January my boy said the Co-op has cut everyone’s hours.
Thank Red Rach for bumping is wage over $15/hr, but makes less?
The stats are indeed troubling on the loss of part-time jobs,which is what many of the major employers do now,20 hour work weeks and if you need more hours,find a second job somewhere else. This keeps the amount of benefits they have to pay down.
And as for the alleged 49,000 full time jobs added,how many are government funded,how many are temporary? The media is determined to convince Canadians that Trudeau is doing a good job on the economy,and they will use figures from Statscan to twist the story any way they see fit.
The media is quite aware that Canadians will vote against the PM if the economy is in the dumps,so they’ll continue to propagandize for him now that the riotous laughter at his “peoplekind” weak joke has subsided.
Just read that the PM’s motorcade in California was involved in a motor vehicle crash.Fortunately,our beloved PM was not injured and can continue schmoozing with the Even Bigger Idiot,Jerry Brown.
“- CIBC study says 32% of Canadians between 40 – 64 years old have NO retirement savings. A comparable % are not meeting current expenses.
– 48% of Canadians cannot take a $200 per month increase in expenditure.
If this is not a crisis then what is? As much as I do not listen to politicians anymore I do not see mention of this situation in media or the yakky crowd.”
They are sitting on it until the “time is right” to introduce a “national basic income” to “solve” the problem.
While federal policy isn’t good, this drop in jobs is likely due to increases in minimum wages, which is provincial.
Only little people lose jobs, not Justin.
That is Hair-Boy’s rationale, anyway.
I wonder if Trudeau thinks those working for minimum wage are middle class or mere peons? I’m still not clear on what he considers middle class. I know for sure he isn’t and has never been there.
Wynne is still advertising her minimum wage vignettes on prime time TV…radio to, even though it is contributing to a big part of the job losses and will only get worse. She should also check out the food bank numbers across the province.
The PMO no doubt got a heads up on those numbers and that’s why he’s visiting the Clinton Archipelago this week.
Men lose their jobs, but not people.
What they mean by “middle class” is not the hated bourgeois who own property and have savings and therefore resist revolutionary change and progress, when they say “middle class” they mean well-paid government workers.
Enjoy the “new normal” eh, Canadian Friends. Here in America, the downtrodden citizenry rose up and elected “change” to FIX the “hope and change” that delivered only malaise and racism. Perhaps the peoplekind of Canada aren’t too far gone after all ?
We live in interesting time.
Trudopia will be a blessing.
Equalization Dies.
West redefines itself and separates.
Kleptocracy falls,theft by armed force of Government falls out of fashion.(At least in the West)
And hard Times will force the relearning of economic reality.
No producee..No eatee.
As for publicly funded functionaries, never more than 1 for every 10 productive citizens.
No job duration for bureaucrat greater than 10 years.
A person losing a job is a tragedy, 88,000 losing their jobs is a statistic.
TruDOPE and his Lib party are a reflection of thei supporters.
Feelings trump facts. It defines how he operates and their troubles
wynnedfarm has no background in finance, running a business, not a hint of engineering training or experience, on and on.
a typical consummate pollllitiSHUN. knows propaganda better than goebbels, knows how to hide stuff and blame others, on and on.
the reason she won the 2014 election against tim hudak, he was a clucking parrot in the pocket of the hard right wing AMERICAN think tank boys.
https://en.wikipedia.org/wiki/Ontario_general_election,_2014
the trick is dear citizens and various party and ideology supporters, do NOT make it THAT obvious where the agenda comes from.
LOL!!! how true. and he would be the mayor of the village.
This quote:
“• Annual wages gains accelerated to 3.3 per cent in January, the fastest since 2015 and up from 2.7 per cent in December. Wage increases for permanent workers increased by 3.3 per cent, up from 2.9 per cent.”
from this article:
http://business.financialpost.com/news/economy/update-1-canada-sheds-88000-jobs-in-jan-biggest-decline-since-2009
Will lead to certain unionized employees getting a wage increase based on Wynne’s decision. Why? Because some Union contracts are pegged to the Average Weekly Earinings index. If the index goes up their wages go up. Clever little Kathleen-man rewards her Union financiers.
spot on Mikey.
MORE evidence that in the mid term, there WILL be a time when only a couple thousand largely unknown and unlocateable multi-trillionaires will own >98% of ALL assets and resources under, on and above the earth.
just another way to pull it off. Im NOT claiming ‘conspiiiidacy’, its just a random, process going in the same direction, following the eons old pattern of wealth accumulating in the same spot.
Heard an apologist economist trying to fluff off this news with, “However, about 50,000 new jobs were created in the same period…..”
He didn’t have the honesty to say what the ratio of public sector to private sector in that 50,000 was, and the radio host was to stupid to ask.
test
Excellent opinion piece on CBC’s website (really) on higher minimum wage vs. higher personal deductions. Obviously not produced by the CBC itself http://www.cbc.ca/beta/news/opinion well worth the read.
I’ll try again. Check this excellent piece on CBC website (really). Higher minimum wage vs. Higher personal deductions.
http://www.cbc.ca/beta/news/opinion
In the same vein, Horgan said he was raising the minimum wage to “remain competitive”. This shows the lunacy of the left, losing thousands of jobs due to higher min wages but hey! Let’s do it anyways.
Sadly had to do my part and terminate 25% of my unskilled labour staff right after Christmas. Now I have my skilled guys holding their hands out for an increase. All boats rise with the tide.
What makes it worse is I can’t increase my rates because doing so will send half my clientele to the unticketed folks down the road. The OCOT trade tax was supposed to take care of that problem.
“…Horgan said he was raising the minimum wage to “remain competitive”. …”
Yes, to remain competitive with other politicians who will lie to the stupid and/or ignorant voters that economic reality isn’t real and that a government can create by decree a world of ease and plenty for them.
As a CRA annuitant, I can guarantee that a majority of those new jobs are in the public sector and are for a specific term only. At this time of the year they hire thousands of term employees due to the tax season. Many look upon this as full time work because they can collect EI for the rest of the year. Any way you look at it, we are paying for them, in one way or another.
“While federal policy isn’t good, this drop in jobs is likely due to increases in minimum wages, which is provincial.”
I agree.
I’ll happily blame Our Dear Leader when I think he deserves it (such as hiding out in plain sight during the current BC-Alberta stand-off) but not for problems outside his mandate.
And job reductions due to higher (provincial) minimum wages is one of these, obviously.
The money quote from your link…
“In a progressive tax system, higher wages directly translate to increased tax revenue. Ontario’s raise from $11.60 to $14 means that minimum wage workers would pay approximately $350 more in provincial taxes. And with approximately 623,000 minimum wage workers in Ontario, that would mean $218,050,000 in additional tax revenue for the province (not to mention an increase of $448,560,000 for the federal government).”
By forcing up the minimum wage the Provincial government will raise more tax revenue, as will the Federal government. Interesting indirect tax on business.
“And with approximately 623,000 minimum wage workers in Ontario, that would mean $218,050,000 in additional tax revenue for the province (not to mention an increase of $448,560,000 for the federal government).”
Assuming of course, that the loss of jobs due to private and corporate “cost-coping” reductions and rationalizations is not so excessive that the minimum wage worker demographic actually suffers a steep decline.
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what we need here in canada
is “a basic dictatorship.”
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hey Unstupid, yup it’s provincial, Newfberta and OntarIowe, which represents about 50% of Kanada’s population, and throw in the fact that “carbon” taxes are kicking in. You really need to work on your comprehension and context skillz
Mike, I went shopping yesterday, and watched as several old people (about my age) were picking through things price surfing, and seeing how their faces gave way their dismay, as they could not afford what they needed/wanted. So sad, and the TURD throws money around, internationally, as if we are all rich. Were is HLO just when you need him:-)))
Kate, you pass or fail that test????
Oh, you mean those phone-answering minions who really know very little and recite from whichever script they have to hand? Last I heard, one even told an inquirer that the last day of tax season was April 31.
The good news is that our Media beloved Princess Justine is down in Chicago meeting up with the Obama gangster machine plotting a strategy for winning the next election… all of Peoplekind rejoice.
Politicians of all stripes play the “job creation” game at their own peril. Economies rise and fall and despite all efforts of intervention by central banks and government stimulus, will continue to do so.
Having been in the boat of having lost a job (actually a couple of times) I truly feel for those people that find themselves without work and face bills and mortgage payments. I do not wish that feeling on anyone.
I hope that the reason that Le Dauphin gets kicked to the curb in the next election will be that the citizens of this Dominion realize how profoundly stupid he is and that his policies are wrecking an entire country, not just its economy.
Rex Murphy has a good one here:
http://nationalpost.com/opinion/rex-murphy-alberta-b-c-clash-just-the-latest-result-of-petrophobes-war-on-the-oilsands
This is pretty negative news. We will see what happens in the next few months. The economy will probably not be an election issue in Quebec for the provincial election. The federal one down the road will probably be front and center.
Be interesting to see if scheer cones out of hiding and campaigns.
More like sucking the heart out of the economy with taxation and enviromentalism [sic]
Not so, even slaves have to be fed and watered, and then there is the security cost.
“…Horgan said he was raising the minimum wage to “remain competitive”. …”
“Yes, to remain competitive with other politicians who will lie to the stupid and/or ignorant voters….”
I don’t do the Facebook or Twitter dance, but I still felt compelled to give you a “like”.
Our economy will probably continue to wither and die while the Americans’ economy should continue to boom. Will the ultimate end result of a lower standard of living in Canada compared to what they see of a raise in the standard of living of Americans on social media and TV finally be enough to wake the more stupid voters up?
I suspect that even the most self-righteous of our white social justice liberals would simply detest seeing an American minority group more prosperous than themselves.
Ontario’s unemployment rate actually went down, from 5.6% in December to 5.5% in January.
Of course that’s mainly because Ontario’s labour participation rate also went down month-to-month.
But that would seem to be normal, as more workers enter the labour market before Christmas, and leave after Christmas.
The participation rate also went down in Canada as a whole, and in 8 provinces.
Only in PEI did the participation rate go up, and in Nova Scotia it remained the same.
So Wynne’s massive minimum wage hike didn’t really have any negative effect on employment in Ontario when compared to the rest of the country.
The US is drowning in government debt. They are screwed, and it’s only getting worse. Canada has it bad too but not nearly so.
Petrophobe is the perfect word for the degenerates standing against oil.
“Be interesting to see if scheer cones out of hiding and campaigns.”
No it won’t.
Don’t fool yourself, so is Canaduh! Morontariowe is in worse shape than Kalifornica, and they are pretty much bankrupt, morally and financially.
Looking down your nose at Americans just shows your Liberal roots for all to see
The federal government in Canada is not nearly so broke as America’s. It’s not just the lower level of debt, it’s the more prudent entitlement structure.
Guaranteed annual income will be a disaster.
The election becomes I wuill give you a bigger raise than the other guy.