Canada job losses worst since 1982 recession

[jdobbin]

http://ca.news.yahoo.com/s/reuters/090409/...nada_us_economy

Canada continued to post heftier than expected job losses in March as the economy spiraled downward, hardening expectations of more action from the Bank of Canada to stimulate lending.

The unemployment rate jumped to a seven-year high of 8 percent last month and the economy lost 61,300 more jobs, resulting in the sharpest five-month employment decline since the 1982 recession, Statistics Canada said on Thursday.

It has been a tough month for some people.

There has been talk that there are glimmers of hope out there but the issue of manufacturing still hasn't been resolved and won't be for at least the next month or so.

Harper's response.

http://www.ctv.ca/servlet/ArticleNews/stor...?hub=TopStories

"Obviously this is not good news," Harper said from Edmonton.

On the other hand, this is the level of unemployment we were expecting in the budget. That's why we've come forward with the kind of programs and dollars we have to deal with this problem," he added, referring to the budget's $40-billion over two years stimulus.

Harper also advised young Canadians just entering the workforce to retool their skills so they will be ready for when the economy turns around.

"When the job market is a little bit softer, but you know that it's going to come back, now is not the time to run out into the workforce and make a few quick bucks," said Harper.

"Now is the time to actually train for the long-term."

So kids, stay in school if you can afford it.

[madmax]

There Job losses are far worse then in 1982. In 1982 these were layoffs and people would be "recalled" when the work returned. THis will not be occurring in these rounds of layoffs for hundreds of thousands. These are large companies of which 4 in my area in the last 2 weeks have packed it in. They weren't losing money, they were on schedule to relocate operations. 1 to the US, 2 to China, 1 to Mexico.

What is this "a month" ???

Manufacturing can be resolved in "a month or so"?

[Molly]

I hiccupped at that phrase 'a month or so', too. Heck! We're still on the downward slide, and it will take longer to fix the wreckage than it did to fall. The issue of manufacturing might not be resolved for some years, much less a month or so.

The stats don't tell about the folks who've had hours or days cut, or those who've taken a pay cut. There are even more of those, I think, than of the unemployed. (Around here at least.)