Job Numbers Are Out

[cybercoma]

Conservatives have righted the economic ship by... losing more jobs.

http://ottawa.ctv.ca/servlet/an/local/CTVNews/20111104/unemployment-rate-statistics-canada-111104/20111104/?hub=OttawaHome

Canadian employers were slashing full-time jobs in October, pushing Canada's overall unemployment rate up 0.2 percentage points to 7.3 per cent, Statistics Canada reports.

[Smallc]

Losing more jobs? Losing jobs hasn't exactly been a trend in Canada. If you look at the CBC graphic, the locations of the job losses show that this is a story of external influences, rather than internal problems.

[cybercoma]

You're right. All those extra jobs in the fast food industry are doing a world of good.

[Guest Manny]

Not to worry. Once the new prisons are filled with the unemployed, this problem will be largely resolved.

[Smallc]

You're right. All those extra jobs in the fast food industry are doing a world of good.

The job creation quality index has only slipped a couple of points. The jobs from Manitoba to British Columbia as well as Newfoundland and Labrador are not in any way fast food jobs. The story here is of strife in the manufacturing sector caused by external influence, and losses in the construction sector due to seasonal factors, and the end to all of the original remaining stimulus from the first part of Canada's Economic Action Plan.

[Shwa]

Conservatives have righted the economic ship by... losing more jobs.

http://ottawa.ctv.ca/servlet/an/local/CTVNews/20111104/unemployment-rate-statistics-canada-111104/20111104/?hub=OttawaHome

That's weird since it is a CPC perogative to create a larger bureaucracy. They'll just add a few more departments and everything will be back to the usual.

[cybercoma]

The job creation quality index has only slipped a couple of points. The jobs from Manitoba to British Columbia as well as Newfoundland and Labrador are not in any way fast food jobs. The story here is of strife in the manufacturing sector caused by external influence, and losses in the construction sector due to seasonal factors, and the end to all of the original remaining stimulus from the first part of Canada's Economic Action Plan.

So the stimulus was useless then, since it didn't have any lasting effect.

[Smallc]

So the stimulus was useless then, since it didn't have any lasting effect.

Stimulus isn't supposed to have lasting effects, other than improved infrastructure. Stimulus is simply a stop gap to help the economy coast through difficult times. Canada should really be out of difficult times now, but because of outside factors, we're not doing as well as we otherwise would be.

[scribblet]

Naturally it's the CPC's fault and nothing to do with a huge global economic problem, in particular Europe - Greece and all.

[CPCFTW]

Damn conservatives didn't buy out all of Greece's socialist debt to fix the world economy!!!

[eyeball]

Not to worry. Once the new prisons are filled with the unemployed, this problem will be largely resolved.

Don't forget all the new guards, cops, lawyers, judges etc etc that will be hired to fill them.

[Shwa]

Don't forget all the new guards, cops, lawyers, judges etc etc that will be hired to fill them.

More Big Government, more massive bureaucracy chewing away at those mystical and mysterious "tax dollars" everyone keeps talking about.

[eyeball]

More Big Government, more massive bureaucracy chewing away at those mystical and mysterious "tax dollars" everyone keeps talking about.

Round and round and round it goes, where it stops nobody knows.

Heck, we don't even knows where it starts.

[Boges]

Round and round and round it goes, where it stops nobody knows.

Heck, we don't even knows where it starts.

Jobs figures have been doing pretty well all year.. No credit to the CPC or people say they are just McJobs. One bad Jobs months, it's all Harper's fault.

[Topaz]

When the Tories stand up in the House and say "Since July of '09, we have created 600,000 new jobs, this week, they put another 50,000 on that tap, but Stats Can. has reported in Ontario alone, we lost 75,400 but gain 36,000 PART TIME. The NDP, said that the figures the Tories are using are off about 240,000-250,000 as far a NEW jobs. The good news that today, the Tories stood up in the House and said how sorry they FEEL for the unemployed but its all to do with the global economies and NOW Canada is affected by it. I wonder if the unemployed will get sympathy cards....paid by the taxpayers, of course!

[olp1fan]

Jobs figures have been doing pretty well all year.. No credit to the CPC or people say they are just McJobs. One bad Jobs months, it's all Harper's fault.

If you claim you gave canada 600,000 jobs you have to also accept the blame when you lose them

[eyeball]

Jobs figures have been doing pretty well all year.. No credit to the CPC or people say they are just McJobs. One bad Jobs months, it's all Harper's fault.

Sort of like it's all to Harper's credit that Canada is at the stern of the Titanic instead of at up the bow.

[PIK]

I think it is safe to say we can thank dalton for this not harper.

[msj]

The job creation quality index has only slipped a couple of points.

It would be nice to know what quality index you are referring to. Any link?

Is it CIBC's? [PDF]

If so, then let's hope we are not seeing the early part of a new trend:

Our CIBC Employment Quality Index (EQI)fell by 0.5% in the third quarter and is down by 1.5% over the past seven months. The recent decline in the EQI followed a strong rebound, which lasted since early 2010. At its current reading, the index is roughly where it was at the eve of the

recession.

[Smallc]

Yeah, that was the one. I couldn't remember where I had read it. I don't think we're seeing a long term trend from this though. This is purely a result of the weakness in the US, Europe, Japan, and China...all at the same time.

[wyly]

Not to worry. Once the new prisons are filled with the unemployed, this problem will be largely resolved.

make unemployment a crime and those numbers will go down...

[msj]

Yeah, that was the one. I couldn't remember where I had read it. I don't think we're seeing a long term trend from this though. This is purely a result of the weakness in the US, Europe, Japan, and China...all at the same time.

I mostly agree.

However, if unemployment rises in Canada due to those factors then Canada could be hit hard due to too much indebtedness (personal/private debt).

In fact, if real estate prices stop increasing, or pull back, then many parts of this country will be hit quite hard just from the decrease in real estate activity (construction, home improvements etc). ¹

If that happens, then Harper will be the first one on my list to blame (well, ok, maybe Flaherty).

They are the one's who brought in 0% down and 40 year amortizations for mortgages.

They have wisely backed away from that policy and we are now at 5% down and 30 year amortizations.

Well, the 5% down isn't really 5% down as banks give out "rebates" and "cash back" mortgages - so first time home buyers can still get 0% down.

These products should not be allowed and in a country where the banks are regulated at the cabinet level it is the government that should, and will, get the blame for not having the foresight to better regulate and disallow banks from such lending policies.

To encourage the orgy of debt that we are seeing now is to invite lower economic growth and more unemployment in the future.

-------------------------------------------

^{1 Sadly I can no longer link to some stats showing the percentage of GDP derived from housing related industries from the economic analyst (he has taken a job so has locked down many of his old posts).}

^{My RSS feed still shows some details and, generally, many Canadian cities are looking at 20 to 25% of their GDP being derived from housing (and related) activity and about 10-15% of employment.}

^{For example, Winnipeg was shown at 25% for housing related GDP and almost 13% for employment as of the first quarter of 2011.}

Edited November 4, 2011 by msj

[Wild Bill]

I think it is safe to say we can thank dalton for this not harper.

Good point, PIK! The usual suspects were jumping all over themselves to dump on Harper, totally ignoring any role of Ontario's provincial government. Those figures released show that the big problem is in Ontario. Harper gets no credit for anything good in the rest of the country and is expected to take all the blame for Ontario, while Dalton gets off scot-free.

Can those "suspects" spell "partisan"?

[blueblood]

I mostly agree.

However, if unemployment rises in Canada due to those factors then Canada could be hit hard due to too much indebtedness (personal/private debt).

In fact, if real estate prices stop increasing, or pull back, then many parts of this country will be hit quite hard just from the decrease in real estate activity (construction, home improvements etc). ¹

If that happens, then Harper will be the first one on my list to blame (well, ok, maybe Flaherty).

They are the one's who brought in 0% down and 40 year...

They may have brought it in, but during the stimulus and slashing of interest rates, they were beating the "don't go too far into debt" drum pretty hard and for quite some time. If people don't want to listen...

Probably should include carney in there with giving the green light to slash interest rates and reduce the cost of money.

[msj]

They may have brought it in, but during the stimulus and slashing of interest rates, they were beating the "don't go too far into debt" drum pretty hard and for quite some time. If people don't want to listen...

Probably should include carney in there with giving the green light to slash interest rates and reduce the cost of money.

Oh, the do as I say not what I legislate argument.

That's a good one for them to get prepped up.