Are seeing job losses where you live?

[CBC News]

Federal Finance Minister Jim Flaherty is meeting with his provincial and territorial counterparts on Monday to discuss the global financial crisis, a possible recession and plans to curb growth of the equalization payments to provinces.

Flaherty is expected to announce changes to the equalization program, the nearly $12-billion federal wealth-sharing plan in which the richer provinces provide funds to poorer provinces to ensure they can provide basic government services.

Flaherty has warned that the government cannot afford the growing costs of the program.

The meeting in Mississauga, Ont., could have particular significance to Ontario. With its struggling manufacturing sector, Ontario is on the brink of becoming a have-not province, meaning it would qualify for the equalization program.


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Are seeing job losses where you live?



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[scratch]

Federal Finance Minister Jim Flaherty is meeting with his provincial and territorial counterparts on Monday to discuss the global financial crisis, a possible recession and plans to curb growth of the equalization payments to provinces.

Flaherty is expected to announce changes to the equalization program, the nearly $12-billion federal wealth-sharing plan in which the richer provinces provide funds to poorer provinces to ensure they can provide basic government services.

Flaherty has warned that the government cannot afford the growing costs of the program.

The meeting in Mississauga, Ont., could have particular significance to Ontario. With its struggling manufacturing sector, Ontario is on the brink of becoming a have-not province, meaning it would qualify for the equalization program.


Full story

Are seeing job losses where you live?



More...

I have posted at least three times about what is happening to my town and from an economic point of view it is not good.
I went for a walk down Main Street this morning and more establishments have their windows soaped and for sale signs in place.
The query has been answered.
scratch

 

[Trex]

I have posted at least three times about what is happening to my town and from an economic point of view it is not good.
I went for a walk down Main Street this morning and more establishments have their windows soaped and for sale signs in place.
The query has been answered.
scratch

Hey scratch,

I know it gets old posting the same stuff over and over.
But I for one am interested and would like to see you re-post that information.
I think its an important topic.
And it gets tough wading through old, buried threads.

Look at it this way.
This recession or downturn may or may not go on for a while.
It may get better or worse.
Different towns, cities and provinces may do better or worse.
And different provincial and municipal governments could be good or bad.

Personally I think a topic like this should be pinned somewhere so we can keep track of how
various parts of Canada are weathering the storm.

Anyway if you are willing to keep posting about it, I am happy to keep reading it.
Trex

 

[Outta here]

Personally I think a topic like this should be pinned somewhere so we can keep track of how various parts of Canada are weathering the storm.

Consider it done.

 

[lone wolf]

Boart-Longyear and Atlas-Copco - 2 mining equipment and supply companies in North Bay, Essar-Algoma Steel in Sault Ste Marie has layoffs pending and blast furnaces shutting down, FMX mining in Sudbury has closed commercial operations, Vale-Inco has announced it will not be able to meet stringent new air quality standards (this after a year's worth of TV ads with Inco promising to lighten their ecological footprint in Sudbury Basin) Xtrada is on strike in Timmins, Lumber and paper mills are closed or closing in Smooth Rock Falls, Kapuskasing, Englehart, Hearst

 

[Nuggler]

:angry3:.........Over here in Backwater, we have lost or are going to lose one government establishment which has been ongoing since the 1950's. One large manufacturing plant is shutting down as of end 2008, and one medium (200 people) shutting down soon........2008 - early 2009.

These are not "ifs" . These are done deals.

Severances have been paid and EI will kick in (for a while), but, in the long run, it doesn't look good at all.

Property prices will plummet, and welfare will skyrocket within a year or two.

So far, "tourism" has been touted as a bit of a saviour, but we have had tourism for years, and it can only employ so many. Not the solution.

As far as I know, (but I'm not in the inner circle of the town's wise men), there are no manufacturing plants looking to locate here. Rumours of a call centre, and that would be welcome.........not confirmed.

In the long run, the town is going to be screwed.

Offshoring, downsizing, and going South, has everything to do with this.

 

[Ron in Regina]

Things are evolving. Out here some businesses that are closely tied to the U.S. economy
aren't doing great. The company I'm with is in that boat. Due to loyalty, I'll ride it out to
the bitter end if that comes, and if we're still in existence in January, I'm also the recruiter
and will try to rebuild for the next season. Last year at this time we where about 50 trucks,
& right now we're about 10. This company has been good to me. I'm not leaving unless the
doors are locked on us.

I'm not too worried about myself though. Worst case, I have 5-6 weeks of holiday pay
sitting, and will have two weeks severance, and this is an interesting time in Saskatchewan's
history. Currently there are 18,000 unfilled jobs here that have been unfilled for over four
months, and very low unemployment rates. I'm versatile, and will land on my feet due to
not having a option to do anything but to land on my feet. I'd be working again within a day
or two, and can job-hop a couple of times if need be 'till I'm where I want/need to be.