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Job market to significantly weaken - expect no recovery for next 5 yrs




sville
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Member since: Dec 08




Posts: 242
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Quote:
Originally posted by dan
In the area of IT, I guess Cdn exp is not important so 4-5 years exp in IT from anywhere should be ok. Or not ?



As such, in any area the country/culture/source of that experience does not matter a lot. Education and skills are always transportable.
But it matters when : "# of Resumes" > "Job Positions Available"


 
Post ID: 142577 27-04-09 19:16:05
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dan
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Member since: Jan 05




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Quote:
Originally posted by sville

Quote:
Originally posted by dan
In the area of IT, I guess Cdn exp is not important so 4-5 years exp in IT from anywhere should be ok. Or not ?



As such, in any area the country/culture/source of that experience does not matter a lot. Education and skills are always transportable.
But it matters when : "# of Resumes" > "Job Positions Available"




---
Disagree completely.


 
Post ID: 142597 28-04-09 10:05:48
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Fido
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Member since: Aug 06




Posts: 5286
Location: Canada


Your disagreement may be personal . Even in IT a person with North American experience will be given preference if other things are similar .
-----------------------------------------------------------------
Fido.

 
Post ID: 142598 28-04-09 10:19:49
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sville
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Member since: Dec 08




Posts: 242
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My uncle got his first job in operation in a chemical plant with a BA in some language.

Quote:
Originally posted by Fido

Your disagreement may be personal . Even in IT a person with North American experience will be given preference if other things are similar .


Exactly.
And even withing "North American experience", a company from xyz-country will demand experience-from-xyz-country.

This demand of asking additional experience comes only if you have easily available candidates. - which is very true in our times.



 
Post ID: 142683 29-04-09 18:57:46
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sville
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Member since: Dec 08




Posts: 242
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Quote:
Originally posted by sville
My uncle got his first job in operation in a chemical plant with a BA in some language.



Ooh .. before any kid raise hand ... that was somewhere between late 60's and early 70s


 
Post ID: 142686 29-04-09 19:02:15
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Krazzyfour
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Member since: Apr 08




Posts: 185
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A diminished future for America is inevitable!

A diminished future for America is inevitable!

US annual deficit of nearly $1.5 trillion is 10% of GDP alone, a number never approached since the 1930s Depression. While policymakers, including the President and Treasury Secretary Geithner, assure voters and financial markets alike that such a path is unsustainable and that a return to fiscal conservatism is just around the recoverys corner, it is hard to comprehend exactly how that more balanced rabbit can be pulled out of Washingtons hat. Private sector deleveraging, reregulation and reduced consumption all argue for a real growth rate in the U.S. that requires a government checkbook for years to come just to keep its head above the 1% required to stabilize unemployment. Five more years of those 10% of GDP deficits will quickly raise Americas debt to GDP level to over 100%, a level that the rating services and more importantly the markets recognize as a point of no return. At 100% debt to GDP, the interest on the debt might amount to 5% or 6% of annual output alone, and it quickly compounds as the interest upon interest becomes as heavy as those sixteen tons in Tennessee Ernie Fords famous song of a West Virginia coal miner. You load sixteen tons and whattaya get? Another day older and deeper in debt. Pretty soon you need 17, 18, 19 tons just to stay even and that describes the potential fate of the United States as the deficits string out into the Obama and other future Administrations. See why Japan in the 1990s and the U.S. in the 1930s suffered prolonged depressions because of deficit hawkishness.

Republicans noted that a report by the Obama transition team in early January said that without a large stimulus plan, unemployment would go above 9%. It is now above that level, despite passage of the stimulus plan. Now, Republicans launched a political offensive against President Barack Obama's handling of the economy after weeks of reticence, emboldened by Friday's report of a surging unemployment rate. With Friday's report that the unemployment rate had jumped to 9.4%, the highest monthly reading since September 1983, Rep. Dave Camp (R., Mich.), the senior Republican on the House Ways and Means Committee, declared the stimulus plan a failure. House Minority Leader John Boehner (R., Ohio) proclaimed, "Washington is hanging middle-class Americans out to dry."

Republicans have been hammering the president's economic policies for months, saying the White House has been spending hundreds of billions of taxpayer dollars with nothing to show for it.

In the end, one can only conclude that the U.S. is indeed likely to deficit spend for a considerable period and that this is going to have negative effects on its credit rating and relative standing in the global economy. A diminished future for America is an inevitability of having lived beyond its means for far too long. Accepting this fact is likely to provide a better outcome than resisting it as the U.K. did when its tenure as king of the hill came to an end.

Diminished future for America does not augur well for Canada.

Canada's manufacturing heartland continued to feel the full force of the economic downturn after suffering another month of massive job losses in May, pushing the national unemployment rate to an 11-year high.
"Unemployment will remain high for some time, likely peaking in mid-2010 ...

In Canada, particularly Ontario, which is feeling the recession's sting the most, 59,700 were lost in the month, almost all full time and in the manufacturing sector, particularly auto-related.

May's job losses pushed up the national unemployment rate to 8.4 per cent - the worst since 1998 - and Ontario's to 9.4 per cent, a 15-year high.

Workers will have to wait a little longer before they can feel better about their job prospects, however.

Jobs is a "lagging indicator," analysts point out, meaning that just as Canada was adding jobs early last year when the economy was noticeable slowing, the economy will likely in turn keep shedding jobs this year even as growth returns.

They say the economy isn't likely to start creating jobs consistently until next year.



May 5: Microsoft ( MSFT - news - people ) pink-slips a second 5,000 employees following its initial January layoff.

May 19: Hewlett-Packard ( HPQ - news - people ) announces 17% decline in quarterly profit and reduces workforce by 2% (6,400 workers).

May 18: American Express ( AXP - news - people ) reduces global workforce by 6% (4,000 jobs) adding to a 7,000-employee cut announced last October.

May 15: Following review of operations announced in February, Nike ( NKE - news - people ) cuts 1,750 jobs (5% of total workforce).

May 7: DuPont ( DD - news - people ) adds to December job cut of 2,500 with another 2,000-employee cut.

May 19: Medtronic ( MDT - news - people ) cuts executive pay by 5%, freezes salaries and slashes upwards of 1,800 jobs.

May 6: Wells Fargo ( WFC - news - people ) freezes pension plans and fires 548 in North Carolina.

June 2: Deere & Company ( DE - news - people ) lays off 689 in Iowa as part of ongoing reductions

May 30: Deere & Co ( DE - news - people ) lays off 89 in North Dakota and 16 in Louisiana as part of ongoing reductions.

May 29: Cintas ( CTAS - news - people ) projects worse than expected fourth-quarter results and lays off 650 workers.

May 22: Monsanto ( MON - news - people ) lays off 55 in Mississippi as part of manufacturing facilities consolidation.

May 21: UPS's ( UPS - news - people ) airlines arm cuts 80 mechanics on slump in shipping volume.

May 15: Fruit of the Loom--a Berkshire Hathaway ( BRK.A - news - people ) subsidiary--pink-slips 80 in Alabama.

May 12: Applied Materials ( AMAT - news - people ) posts quarterly loss and increases previously announced job cuts by 300.

May 11: Dell ( DELL - news - people ) slashes 260 jobs in North Carolina and blames the economy.

May 7: Cummins ( CMI - news - people ) idles Indiana plant that supplies Chrysler and lays off 610 workers.

The balance of world financial power is shifting and not in a good way for America.

And above all, if market goes up another 1,000 points on the Dow, everyone would head directly to the bomb shelter as there are stretches in this economy that are not sustainable.


Keep well,

Cheers!


 
Post ID: 144596 06-06-09 13:01:01
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bjork
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Member since: Aug 07




Posts: 98
Location:


Quote:
Originally posted by Krazzyfour


A diminished future for America is inevitable!

US annual deficit of nearly $1.5 trillion is 10% of GDP alone, a number never approached since the 1930s Depression. While policymakers, including the President and Treasury Secretary Geithner, assure voters and financial markets alike that such a path is unsustainable and that a return to fiscal conservatism is just around the recoverys corner, it is hard to comprehend exactly how that more balanced rabbit can be pulled out of Washingtons hat. Private sector deleveraging, reregulation and reduced consumption all argue for a real growth rate in the U.S. that requires a government checkbook for years to come just to keep its head above the 1% required to stabilize unemployment. Five more years of those 10% of GDP deficits will quickly raise Americas debt to GDP level to over 100%, a level that the rating services and more importantly the markets recognize as a point of no return. At 100% debt to GDP, the interest on the debt might amount to 5% or 6% of annual output alone, and it quickly compounds as the interest upon interest becomes as heavy as those sixteen tons in Tennessee Ernie Fords famous song of a West Virginia coal miner. You load sixteen tons and whattaya get? Another day older and deeper in debt. Pretty soon you need 17, 18, 19 tons just to stay even and that describes the potential fate of the United States as the deficits string out into the Obama and other future Administrations. See why Japan in the 1990s and the U.S. in the 1930s suffered prolonged depressions because of deficit hawkishness.

Republicans noted that a report by the Obama transition team in early January said that without a large stimulus plan, unemployment would go above 9%. It is now above that level, despite passage of the stimulus plan. Now, Republicans launched a political offensive against President Barack Obama's handling of the economy after weeks of reticence, emboldened by Friday's report of a surging unemployment rate. With Friday's report that the unemployment rate had jumped to 9.4%, the highest monthly reading since September 1983, Rep. Dave Camp (R., Mich.), the senior Republican on the House Ways and Means Committee, declared the stimulus plan a failure. House Minority Leader John Boehner (R., Ohio) proclaimed, "Washington is hanging middle-class Americans out to dry."

Republicans have been hammering the president's economic policies for months, saying the White House has been spending hundreds of billions of taxpayer dollars with nothing to show for it.

In the end, one can only conclude that the U.S. is indeed likely to deficit spend for a considerable period and that this is going to have negative effects on its credit rating and relative standing in the global economy. A diminished future for America is an inevitability of having lived beyond its means for far too long. Accepting this fact is likely to provide a better outcome than resisting it as the U.K. did when its tenure as king of the hill came to an end.

Diminished future for America does not augur well for Canada.

Canada's manufacturing heartland continued to feel the full force of the economic downturn after suffering another month of massive job losses in May, pushing the national unemployment rate to an 11-year high.
"Unemployment will remain high for some time, likely peaking in mid-2010 ...

In Canada, particularly Ontario, which is feeling the recession's sting the most, 59,700 were lost in the month, almost all full time and in the manufacturing sector, particularly auto-related.

May's job losses pushed up the national unemployment rate to 8.4 per cent - the worst since 1998 - and Ontario's to 9.4 per cent, a 15-year high.

Workers will have to wait a little longer before they can feel better about their job prospects, however.

Jobs is a "lagging indicator," analysts point out, meaning that just as Canada was adding jobs early last year when the economy was noticeable slowing, the economy will likely in turn keep shedding jobs this year even as growth returns.

They say the economy isn't likely to start creating jobs consistently until next year.



May 5: Microsoft ( MSFT - news - people ) pink-slips a second 5,000 employees following its initial January layoff.

May 19: Hewlett-Packard ( HPQ - news - people ) announces 17% decline in quarterly profit and reduces workforce by 2% (6,400 workers).

May 18: American Express ( AXP - news - people ) reduces global workforce by 6% (4,000 jobs) adding to a 7,000-employee cut announced last October.

May 15: Following review of operations announced in February, Nike ( NKE - news - people ) cuts 1,750 jobs (5% of total workforce).

May 7: DuPont ( DD - news - people ) adds to December job cut of 2,500 with another 2,000-employee cut.

May 19: Medtronic ( MDT - news - people ) cuts executive pay by 5%, freezes salaries and slashes upwards of 1,800 jobs.

May 6: Wells Fargo ( WFC - news - people ) freezes pension plans and fires 548 in North Carolina.

June 2: Deere & Company ( DE - news - people ) lays off 689 in Iowa as part of ongoing reductions

May 30: Deere & Co ( DE - news - people ) lays off 89 in North Dakota and 16 in Louisiana as part of ongoing reductions.

May 29: Cintas ( CTAS - news - people ) projects worse than expected fourth-quarter results and lays off 650 workers.

May 22: Monsanto ( MON - news - people ) lays off 55 in Mississippi as part of manufacturing facilities consolidation.

May 21: UPS's ( UPS - news - people ) airlines arm cuts 80 mechanics on slump in shipping volume.

May 15: Fruit of the Loom--a Berkshire Hathaway ( BRK.A - news - people ) subsidiary--pink-slips 80 in Alabama.

May 12: Applied Materials ( AMAT - news - people ) posts quarterly loss and increases previously announced job cuts by 300.

May 11: Dell ( DELL - news - people ) slashes 260 jobs in North Carolina and blames the economy.

May 7: Cummins ( CMI - news - people ) idles Indiana plant that supplies Chrysler and lays off 610 workers.

The balance of world financial power is shifting and not in a good way for America.

And above all, if market goes up another 1,000 points on the Dow, everyone would head directly to the bomb shelter as there are stretches in this economy that are not sustainable.


Keep well,

Cheers!



I don't disagree with your post. However, the factors mentioned in your article mostly effects export oriented businesses(85% of these exports are to US). Otherwise, Canada has its own robust local economy. Maybe not as job friendly as US job market USED to be. BUt it will bounce back.

That being said, in the semi-long term, oil will play a key role in shifting balance of power to those countrries with good oil reserves. On per capita basis, oil output will be high in Canada.

On top of that, Canada is a resource rich country. In the long term, this will cushion Canada's economic blows. China, India etc will have to shell out money to meet their burgeoning demand for natural resources.

The trump card being fresh water. Here, Canada is well on its way becoming an economic super-power in the future.

Perhaps I am wrong. But shouldn't it be relative to other markets? US, India, ME Europe etc are not doing well either. There are layoffs everywhere, at least in the short term.

Maybe we should not expect spectacular salaries like they used to offer in Dubai or easy job market like it used to be in the US, but people will get by comfortably with less diruptions.

I can't see a balanced, resource based economy with solid technological base and first world human resources going down the dumps anytime soon. But we should be vary of politicians like Macguinty uncle, Harper uncle and especailly Bouchard and Leyton unclejis.

I am not a professional analyst but a cursory, commonsense observation of Canadian economy points to economic security in the long run.



 
Last edited by: bjork on 06-06-09 15:24:53
Post ID: 144598 06-06-09 14:57:04
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tukillena
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Member since: Jun 09




Posts: 2
Location:


The above long posts are just copy of news papers or stolen from web sites these are not the individuals views who post them and these posts do not reflect tru picture since the purpose of news papers and web sites is just to sell them selves, so they create new stories daily some time posting recovery of economy, some times no signs of recovery till next year. These may not be relevent when one gets a job since immigration, reverse immigration, transfers, mobility all are part to economic cycle. so do not be misled by these copy posts.


 
Post ID: 145020 11-06-09 20:46:22
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Krazzyfour
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Member since: Apr 08




Posts: 185
Location:

Federal deficits to total $156 billion, job losses to mount
Federal deficits to total $156 billion, job losses to mount

The recession will sink the federal government into a $155.9-billion hole over the next five years and cost hundreds of thousands of Canadians their jobs, the parliamentary budget officer predicts.

The projections are close to double the accumulated $84.9-billion deficit over five years estimated by the January budget, and appears to contradict the government's contention that it has a cyclical deficit that will disappear with the slump.

Page's analysis suggests the deficit is now structural - meaning the government will have to take action by reducing spending or raising taxes to get back to balance - and that job losses will be greater than expected.

"Although there is a high degree of uncertainty surrounding estimates of potential output and structural budget balances, the PBO's calculations suggests that the budget is not structurally balanced over the medium term," the report states.

While the deficit numbers are not a total shock - some economists have predicted worse - it's in the area of jobs, or the number that will disappear over the next five years, that Page's report breaks new ground.

The budget officer's average projection is for 257,000 fewer Canadian jobs this year than estimated in the budget.

For next year, the discrepancy rises to 329,000 fewer jobs, and even in the years 2011-2014 - when the recession is expected to be but a painful memory - there are expected to be between 100,000 and 380,000 fewer Canadian jobs each year than the government assumes.

"It's clear the Harper government has mismanaged the economy. They gave away huge corporate tax cuts and reduced the capacity of the federal government to have the funds necessary to deal with the crisis," said NDP Leader Jack Layton.

McCallum also cited Page's assessment in a release that the numbers show the government has a structural deficit as evidence the government has fumbled the economy.

"There is no credible plan to dig Canada out of the hole," he said.

In other economic developments, the Conference Board of Canada issued a new report card on Canada placing it a lacklustre 11th in a ranking of the world's 17 richest countries in 2008, unchanged from the previous year.

Canada, with a "B" grade on its performance, "remains near the back of the class among its peer countries," the Conference Board said.

"We cannot take for granted that Canada will come through the recession better than its peers," it added, noting that Canada is still lagging on key indicators of sustainable economic growth.""


Keep well,

Cheers!


 
Post ID: 146385 06-07-09 21:56:44
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