Canada Added 58k Workers But Lost 2k Jobs Last Month

[CdnFox]

https://betterdwelling.com/canada-added-58k-workers-but-lost-2k-jobs-last-month/

Canada Added 26 Workers For Every Job It Lost Last Month

Canada’s rapid population boom of prime aged workers helped its labor force expand rapidly. The country added 57.7k workers for a grand total of 21.72 million in March. Unfortunately the economy also lost 2.2k jobs over that same month. More bluntly put, 1 job was lost for every 26 workers added in March—a very unusual combination. 

The working population growing much faster than job creation has become a trend. Over the past 12 months, the country added 571.3k workers but only 324.4k jobs. That’s a shortfall of 246.9k jobs, pushing the number of unemployed people in Canada to 1.32 million.

Unemployment Rate Soars As Canada Struggles To Create Jobs

Speaking of unemployed people, the rate has now climbed very sharply since its record low. The unemployment rate rose 0.3 points to 6.1% in March, about 1 point higher than last year. It’s now at the highest level since January 2022, and the rate is now higher than pre-2020. 

[CdnFox]

Obviously this is a problem.  And once again Trudeau is creating a problem that doesn't need to exist and will take a long time to rectify.  There will quickly become a glut of lower skilled workers (either genuinely lower skilled or unable to obtain credentials for their skills) and a lower GDP per capital ratio.

More people who will be angry and disillusioned with being here and more tensions. That'll probably work out well.

[QuebecOverCanada]

This will cause social unrest and possibly riots, or the slow establishment of a Brazilian like economy in which the Poor are super poor, and the Rich, super rich.

[myata]

A democracy without any real independence and accountability is only a fiction, facade. No resources will be enough to sustain it indefinitely.

[August1991]

On 4/7/2024 at 1:18 PM, QuebecOverCanada said:

This will cause social unrest and possibly riots, or the slow establishment of a Brazilian like economy in which the Poor are super poor, and the Rich, super rich.

Disagree.

We Canadians are remarkable. Foreigners are soon like us - even our accent.

[CdnFox]

On 4/7/2024 at 10:18 AM, QuebecOverCanada said:

This will cause social unrest and possibly riots, or the slow establishment of a Brazilian like economy in which the Poor are super poor, and the Rich, super rich.

That's always the risk - that there will be a strong polerization and you get the very rich and the very poor and the middle class evaporates.

Either way it really doesn't speak well to our chances of solving our productivity issues.