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Canadian job market bad news (The Star)

Senior Desi
Member since: Jan 08

Posts: 429
Location: Ohio

Originally posted by Krazzyfour

The guys at Washington didnt get the mortgage crisis right. They didnt get the credit crisis right! And they sure as blazes arent getting the economy right, either!

Just a few weeks ago, politicians on Capitol Hill and policymakers at the Federal Reserve were tripping all over themselves to discuss the green shoots in the economy. Now, theyre openly admitting they screwed it up.

Vice President Joe Biden said last weekend that the administration misread the economy. Their hopelessly optimistic projection that unemployment would peak at 8 percent has been thrown in the trash. The unemployment rate has instead climbed to 9.5 percent and double-digit levels are right around the corner.

Now key officials, like Obama adviser Laura Tyson and House Democratic leader Steny Hoyer, talking about the possibility of a SECOND economic stimulus package. Thats a tacit admission that the $787-billion package enacted in February is failing to get the job done.

Again, this should come as no surprise to anyone. Unlike the ivory tower economists in Washington, everyone live in the real world. And everyone know how bad things are, and how serious the risk is that theyll get worse MUCH worse. So time is to avoid risk, and batten down the hatches for a worsening economic storm.

Toronto's jobless rate up to 9.6% in June

National unemployment rises to 11-year high

Ontario lost 56,000 jobs in June, but that was offset by the addition of 57,000 part-time jobs, StatsCan said. That was enough to bump up the province's unemployment rate by 0.2 percentage points to 9.6 per cent, its highest level in 15 years.

Since last October, employment in the province has fallen by 232,000, with more than half the losses in manufacturing.

The jump in the rate for the Toronto area is a particular cause for concern, Porter said. "We've seen a greater deterioration in Toronto's unemployment rate than we have nationally since Canada lurched into recession last fall."

Keep well,

Until next time,


Are these your thoughts or is it the wonderful world of copy paste you have been living in?

Please quote if you are copying someone Else's words, or it's considered plagiarism.

Post ID: 146692 11-07-09 13:26:29
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AV Canada
Junior Desi
Member since: Apr 09

Posts: 22

There are lot of valid points which i liked in this discussion , yes Canada has good and bad sides

good for less educated immigrants and IT, health care professionals skilled trades , other people just suffer here, some are lucky enough to start and succeed in business but most of the people are stuck in their lives, last week i met a guy from bangladesh ( 42 yr old) professor by profession working in factory for last 2.5 years

But yes, this country in still very beautiful and there is lot's to enjoy

Post ID: 146703 11-07-09 17:20:37
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