129,000 jobs lost in January

[From another nation in Canada]

Hard hit in manufacturing sector

Canada's unemployment rate shot up by 0.6 percentage points in January to 7.2 per cent as 129,000 jobs were lost last month, Statistics Canada said Friday.

http://www.cbc.ca/money/story/2009/02/06/januaryjobs.html

Edited February 6, 2009 by From another nation in Canada

[Molly]

That's what I was expecting.

I've been watching a total bloodbath locally, and the predictions I've been reading just didn't reflect it. I simply couldn't believe that this immediate area could be so anomalous... that this could be the only place that jobs were disappearing at that horrifying rate-- where employment must be falling over a statistical cliff.

[Topaz]

Yesterday, the oppositions parties point out the the areas that have a Tories rep. seem to have more job recreation going on than other parts of Canada. Now, I think its safe to say, this has been done with both, the Libs and the Tories in the past, but the unemployment has never be this bad in our times and IF the Tories are doing this than there is going to be problems for them with people who have to wait more the 2 weeks for EI and those who need to find work before they lose their house.

[madmax]

That's what I was expecting.

I've been watching a total bloodbath locally, and the predictions I've been reading just didn't reflect it. I simply couldn't believe that this immediate area could be so anomalous... that this could be the only place that jobs were disappearing at that horrifying rate-- where employment must be falling over a statistical cliff.

This shouldn't come as a shock or surprise to anyone who has been following the labour market trend of the last 2 to 3 years.

Only daft, arrogant and ignorant politicians buried their heads in the sand saying all sorts of Bullshit, and denying that there was any significant problem.

The Ontario Liberal government choose to mask the problem by highlighting their training and education funding.

I expect the Federal Conservatives to use the same cover to hide structural changes that are here to stay.

By taking virtually no action both the federal and provincial governments have allowed a catastrophy to happen with no preparation.

And when I hear some of the statements like "Well, who could have predicted this, or its not our fault its worldwide", what they don't seem to realize is that Canadas strong foundation was removed during their watch. This didn't "JUST" happen.

We are now witnessing the problem in a tidalwave fashion, that is spreading across all sectors.

Don't hold your breath for anything. I have met many of these goof politicians, and short of slogans, buzz words and polls, these politicians are behind the curve and haven't the skillset to deal with the situation at hand.

5 major retail stores closed in my area or announced closing for the month of February. If you were in these stores, and saw the crowds before and after Christmas, and full parking lots, the closures come as a surprise to both shoppers and employees.

Job growth has been in part time jobs at minimum wage or a little above. This has masked the job losses of people who were earning $14 to $21 full time in profitable companies that closed down their Canadian Operations. Now many of those PT jobs are drying up faster then they are created.

Obviously if you have 3 consecutive years of 240,000 people losing these kinds of jobs, and the majority of those employees working for 50% less per hour and possibly 10 to 20 hours less per week at one job, then their purchasing power declines. Big Ticket items are the first to go.

The run on, continues in both suppliers, retailers, importers and Stocks.

People like to point to the US for our problems. The US had its own set of problems, different then ours. Sub Prime, financial scams and the like. It is a good thing that our problems not Sub Prime and the like, but we have to address our own economy, while the US digs itself out.

That's my short rant for today

[Argus]

Yesterday, the oppositions parties point out the the areas that have a Tories rep. seem to have more job recreation going on than other parts of Canada. Now, I think its safe to say, this has been done with both, the Libs and the Tories in the past, but the unemployment has never be this bad in our times

Are you assuming we're all children? The unemployment rate was higher in the year 2000, so I guess you're about what, eight years old?

[ToadBrother]

Job growth has been in part time jobs at minimum wage or a little above. This has masked the job losses of people who were earning $14 to $21 full time in profitable companies that closed down their Canadian Operations. Now many of those PT jobs are drying up faster then they are created.

You raise a very good point. For far too long the government has gotten away with counting the under-employed simply as employed, and in this way they often can mask serious trends.

[Alta4ever]

Yesterday, the oppositions parties point out the the areas that have a Tories rep. seem to have more job recreation going on than other parts of Canada. Now, I think its safe to say, this has been done with both, the Libs and the Tories in the past, but the unemployment has never be this bad in our times and IF the Tories are doing this than there is going to be problems for them with people who have to wait more the 2 weeks for EI and those who need to find work before they lose their house.

So in the 1980's the unemployment rate crept up to 9.3, but that isn't part of our times.

http://www.statcan.gc.ca/studies-etudes/75...df/2289-eng.pdf

in 2002 it was 7.6

http://www.statcan.gc.ca/pub/75-001-x/10107/9571-eng.pdf

Topaz you need to remeber more then a week back.

[waldo]

it's just sooooo confusing - mere months back we were conditioned to anticipating a 'nominal' impact to Canada (Mr. Harper reassured us)... there was even talk of slight surplus - which moved on to minimal deficits - which thundered on to massive deficits.

even more perplexing is the silly posturing from the rascally bunch who admonished Ignatieff for not bringing the government down - for not piling on to Harper's wasted perogy Parliament time - for actually wanting to push for relative immediacy in applying economic stimulus. Cause, apparently, jobs are being lost - go figure!

[Alta4ever]

it's just sooooo confusing - mere months back we were conditioned to anticipating a 'nominal' impact to Canada (Mr. Harper reassured us)... there was even talk of slight surplus - which moved on to minimal deficits - which thundered on to massive deficits.

even more perplexing is the silly posturing from the rascally bunch who admonished Ignatieff for not bringing the government down - for not piling on to Harper's wasted perogy Parliament time - for actually wanting to push for relative immediacy in applying economic stimulus. Cause, apparently, jobs are being lost - go figure!

What stimuls a few lines the coalition put to paper that had no direction or plan? The time that would have take to transfer from one government to another? Live in reality not the dream you have in your head. You think things are bad under Harper? The market instablity that woudl have been created by the void of government stability would have been enormus, we would have seen the TSX fall farther then it did. It would have been late march early april before a budget would have been produced.

If you think things are bad now, the coalition would have compounded the problem.

[Oleg Bach]

I heard advisors on the radio this morning giving advice to the newly jobless and the potential jobless. It was uncanny - the advice they were giving out on the air was exactly the same information and instruction they give to welfare clients --- when they force them to take those stupid courses that only serve the governemental contractor giving the course - almost none benefit by this stupified council. These are shades of things to come....Welfare departments in all cities are reluctant to give the boot to career cheaque getters...because they know they are no longer the oddity - that there is a huge wave of needy on the way....It will be sweet justice when the arrogant corporate trolls are standing at the local office to bare their private and finacial lives for 570 bucks a month - say hello food bank.

[Vancouver King]

This downturn is quickly taking on Alice In Wonderland qualities. 129,000 job losses is a record. 29,000 giving up looking is a record. That it does not yet represent 9.3% of the employment picture - apparently the dubious record - is less a ray of hope than a fig leaf for govt apologists.

These kind of losses would be appropriate to America with a population higher by a factor of ten. So no one saw this coming, eh? All Harper & Co. had to do was rely on this dependable axiom: when America slips into recession, Canada invariably follows about 6 months later.

No foresight, no plan and no hope for re-election.

[Alta4ever]

This downturn is quickly taking on Alice In Wonderland qualities. 129,000 job losses is a record. 29,000 giving up looking is a record. That it does not yet represent 9.3% of the employment picture - apparently the dubious record - is less a ray of hope than a fig leaf for govt apologists.

These kind of losses would be appropriate to America with a population higher by a factor of ten. So no one saw this coming, eh? All Harper & Co. had to do was rely on this dependable axiom: when America slips into recession, Canada invariably follows about 6 months later.

No foresight, no plan and no hope for re-election.

Don't be stupid, the American meltdown effects the whole world it is a global economy, duh!. It is the Americans who buy our products why they don't buy companies downsize or disappear, we have been through recessions before, it is the end, and begining of a new economic cycle.

The government can't fix the problem, infact government driven economies are usually hit the worst.

[waldo]

it's just sooooo confusing - mere months back we were conditioned to anticipating a 'nominal' impact to Canada (Mr. Harper reassured us)... there was even talk of slight surplus - which moved on to minimal deficits - which thundered on to massive deficits.

even more perplexing is the silly posturing from the rascally bunch who admonished Ignatieff for not bringing the government down - for not piling on to Harper's wasted perogy Parliament time - for actually wanting to push for relative immediacy in applying economic stimulus. Cause, apparently, jobs are being lost - go figure!

What stimuls a few lines the coalition put to paper that had no direction or plan? The time that would have take to transfer from one government to another? Live in reality not the dream you have in your head. You think things are bad under Harper? The market instablity that woudl have been created by the void of government stability would have been enormus, we would have seen the TSX fall farther then it did. It would have been late march early april before a budget would have been produced.

If you think things are bad now, the coalition would have compounded the problem.

huh! your reading comprehension appears skewed as I said/implied nothing about favouring the coalition in my post - read it again... cause ya see, I'm highlighting Ignatieff not pulling the plug and bringing Harper down - Ignatieff actually wanting to push for relative immediacy in applying the economic stimulus within Harper's non-conservative budget. Cause, apparently there is a lost jobs problem. Will someone please inform Harper.

[Oleg Bach]

This downturn is quickly taking on Alice In Wonderland qualities. 129,000 job losses is a record. 29,000 giving up looking is a record. That it does not yet represent 9.3% of the employment picture - apparently the dubious record - is less a ray of hope than a fig leaf for govt apologists.

These kind of losses would be appropriate to America with a population higher by a factor of ten. So no one saw this coming, eh? All Harper & Co. had to do was rely on this dependable axiom: when America slips into recession, Canada invariably follows about 6 months later.

No foresight, no plan and no hope for re-election.

If re-election was dependent on controlling the banks then no one would ever be "elected" by those banks. The root was the fact that our bankers are dependent on the American system...they cower in fear of America because they are the bigger scoundrel. Canada attempts to hold it's own and they did a good job. Once our finacial community figures out they do not have to be afraid of the wounded American lion anymore - recovery will come quickly. We are so conditioned to the idea that America will be dominant eternally that we forget the fact - WE ARE RICH....AND WE HORD ...AND WE HAVE RESOURSES ...call it isolationalizm if you wish - we don't need the big faultering boys to the south......Our mindset is habitual. There is no reccession in Canada, nor will there be a depression - jobs lost are useless jobs --- creating things you don't really need had to come to an end anyway - so what's the problem? The problem is that we don't have a problem!

[Bryan]

Only 7.2%? Why are people screaming that the sky is falling?

Historically speaking, we are still in a remarkably strong economy. It's only a "recession" because our economy was white hot in 2007 and most of 2008. All it's done is slowed down from amazingly good to a little better than usual. There have been many times in my working life where we could only wish things could have been this good.

[Argus]

it's just sooooo confusing - mere months back we were conditioned to anticipating a 'nominal' impact to Canada (Mr. Harper reassured us)...

Look at the US, at Iceland, at the UK. This IS a nominal impact.

there was even talk of slight surplus - which moved on to minimal deficits - which thundered on to massive deficits.

Because your people insisted that they would bring down the government without massive "stimulus" projects.

[ToadBrother]

Look at the US, at Iceland, at the UK. This IS a nominal impact.

It's hardly nominal. Yes, Iceland has been hit probably the hardest of Western states, but come on, this isn't a drop in the bucket.

[Bryan]

It's hardly nominal. Yes, Iceland has been hit probably the hardest of Western states, but come on, this isn't a drop in the bucket.

Compared to the rest of the world, it sure is. We have the best economy in the world. They are going bankrupt, we've lost some pocket change.

[Molly]

Alta4ever "in 2002 it was 7.6"

Bryan "Only 7.2?"

It's 8.0 right here, right now, and still climbing as fast as it did through January. Enjoy being smug and dismissive about it, but if no one at this end of the road can pay the national bills, it will all be up to you.

Have fun with that.

Edited February 6, 2009 by Molly

[Oleg Bach]

Alta4ever "in 2002 it was 7.6"

Bryan "Only 7.2?"

It's 8.0 right here, right now, and still climbing as fast as it did through January. Enjoy being smug and dismissive about it, but if no one at this end of the road can pay the national bills, it will all be up to you.

Good Golly Miss Molly! Money money money...the nation needs an attitude adjustment anyway...and some hardship is good for the soul and character. Have to go now and heat up some real bad soup...jeeezzz - wish I had some real nice toasted rye bread. Maybe next week I can taste a bit of butter on a potatoe...but it's bright and sunny today - and I have never been more hopeful - now that the people in the way are falling like flys - opportunity is everywhere - and dreams do come true ---- if you hold on long enough. I would keep an eye on the numbers as number crunchers do - but all the numbers say is that people who produce nothing of value are getting the boot - a bit of social economic Darwinism might be okay.

[waldo]

it's just sooooo confusing - mere months back we were conditioned to anticipating a 'nominal' impact to Canada (Mr. Harper reassured us)... there was even talk of slight surplus - which moved on to minimal deficits - which thundered on to massive deficits.

Look at the US, at Iceland, at the UK. This IS a nominal impact.

Because your people insisted that they would bring down the government without massive "stimulus" projects.

and there it is - according to your statement, the budget stimulus (the "massive" stimulus), is because the Liberals made "your people" do it... "your people" were sooooo concerned about losing power they abandoned their so-called conservative principles and caved to the pressure of mighty Ignatieff. Accepting the reality is a first step - good on ya.

I expect those still with jobs might smugly - and dismissively - presume nominal impact...

[WIP]

Only 7.2%? Why are people screaming that the sky is falling?

Didn't anyone ever tell you that official unemployment statistics screen out people who's benefits have run out, people who have been cut from full time to part time work, or the ones who have gone on the welfare rolls. The real unemployment numbers are usually double the official stats. They are just as bogus as the inflation figures that don't include food and gas prices!

Instead of focusing on why the world economies are collapsing now, maybe we should be asking if they were ever performing as well as we were told by politicians and the so called business analysts employed by the TV networks that were all employees or former employees of investment banks and Wall Street brokerages -- people who are in the business of exaggerating the performance and future outlook of the economy.

In ten or twenty years, when books are written about the Depression that we have just entered, they will point to the excessive use of leveraging to buy dubious investment derivatives, and marvel about how investors just entering the 21st Century forgot the lessons of the last depression and believed that business freed from regulation and taxation would provide an endless source of economic growth. The Republicans and their neoliberal allies were wrong when they followed this policy in the 1920's, and they are wrong today.

The economic growth of the last ten years has been built on pushing worthless paper around, as so much over leveraged "wealth" has vanished into thin air along with inflated real estate values. The problem is that now there are real people losing real jobs because of the phony economy that was allowed to be built up over the last 25 years. This is mainly an American phenomena, because New York has been the world's financial hub; but with the collapse of the U.S. consumer-driven economy, the whole world is following them into the next great depression.

[madmax]

Didn't anyone ever tell you that official unemployment statistics screen out people who's benefits have run out, people who have been cut from full time to part time work, or the ones who have gone on the welfare rolls. The real unemployment numbers are usually double the official stats. They are just as bogus as the inflation figures that don't include food and gas prices!

The stats for January are 30% shy based upon those who do not qualify for EI but find themselves unemployed. But that figure remains roughly the same from month to month, along with the other factors you imply. Thus those figures are and always have been a ballpark figure, but they indicate the direction the economy is headed, and thus people are able to judge the hardship in their region knowing what 40,000 lost jobs felt like vs 72,000 lost jobs. The higher the figure the more we know we are in shit.

I believe Hamilton just posted a 25% increase in welfare applications in one month.

In the mean time, many of the LARGE announced closures haven't even begun yet. This is the prelude to the job loss.

[jdobbin]

Only 7.2%? Why are people screaming that the sky is falling?

At what point do you think it is bad?

Historically speaking, we are still in a remarkably strong economy. It's only a "recession" because our economy was white hot in 2007 and most of 2008. All it's done is slowed down from amazingly good to a little better than usual. There have been many times in my working life where we could only wish things could have been this good.

True. If we sink to those lows in the next year, is it still the Liberals' fault?

[Alta4ever]

Alta4ever "in 2002 it was 7.6"

Bryan "Only 7.2?"

It's 8.0 right here, right now, and still climbing as fast as it did through January. Enjoy being smug and dismissive about it, but if no one at this end of the road can pay the national bills, it will all be up to you.

Have fun with that.

Funny that the non-unioniszed jobs in Ontario seem to be fairing better