Future Unemployment

Canada's economy "usually" follows whatever happens in the US marketplace by approx 3 months.

Are people prepared for mass unemployment? or are they still thinking thatwe will come out of this fiscal abyss intact?

The job market was dealt a savage blow on Thursday: AT&T Inc., DuPont Co., Viacom Inc. and Credit Suisse Group all said that they would cut a total of 20,650 staff jobs, blaming the weak economy.
<--- public employee, and good at his job

phew... i think i'm safe this time
I work for BCE, no job is safe here.
Our company has enough reserve capital to last a year with the present staff. Work is still trickling in though, so we might be safe. *fingers crossed and knocking on wood*
Quote: Originally Posted by mt_pockets1000View Post

Our company has enough reserve capital to last a year with the present staff. Work is still trickling in though, so we might be safe. *fingers crossed and knocking on wood*

I hear you. I wasn't worried, now I am....a little.
Fortunately (or unfortunately - depends on your perspective)

I consult to the defence and aerospace industry and they tend not to be affected by economi cyclicals. My contract is "finished" Dec 31/2008, but in times of economic stress, companies (and gov't) turn more to contractors/consultants on a 3-6 month basis instead of permanent employees.

Still, I don't think "joe six-pack" realizes the full extent of the economic downturn that will really become apparent in January/2009. It will be ugly to say the least
Quote: Originally Posted by scratchView Post


I would think that the answer would be obvious.

My personal opinion and personal observation.


Geez. Thanks Scratch for pointing that out.
Ron in Regina
OK....Canada's had its election, and it's political turmoil with the coalition, and the
excitement with the GG, and now the PM's pirogued Parliament until sometime in
January....and still we don't know what the H*LL's going on...or what will happen.
This ramble below is about a future unemployment issue that hasn't been mentioned.

I have a question that no Politician has brought up. I think it's a good one and maybe
one of the many-many bright folks here on Canadian Content Forums can answer for
me. I think this coalition thing will come to pass no matter what Harper proposes in a
budget in January. Then (if that comes to pass) the coalition will do their economic
stimuli (= bailout) package of $23 Billion or $30 Billion or whatever number
Mr. Dion happens to come up with for the manufacturing & auto & forestry sectors.

OK....whatever...it'll be inevitable. $$$ will flow to keep these sectors going and in
theory that's a great thing as long as we have customers to sell these products to.

Something like 80% of our paper & lumber products (and 90% of the Automobiles)
from Canada are produced for export to the USA who're (<--) in a recession,
so they are not building houses or buying cars. North American Automotive sales are
down 50% from two years ago, and 90% of the vehicles made in Canada are shipped
out to the USA...

....So....how many auto workers and forestry workers jobs can realistically be saved?
Half? About half? All of them?

If we keep All of them working with bail-out stimulus packages in the multi-Billions, for
products that nobody is buying, where are we going to put all of these cars and paper
and lumber until the fire-sale where they'll be scrapped to make pipe & firewood?

Manufacturing is a very broad (& important) term. If it's manufacturing a marketable item,
bail them out! If it's a product with no buyers, change the product from GMC Trucks to
GMC Solar Panels or something and then bail them out. Does this make sense???

If "Massey Ferguson" went to the Federal Government with hat in hand wanting Billions to
keep thousands employed to make Threshing Machines (when the farmers are all using
Combines now), would you bail them out (?) or tell them to start making Combines or
Toilet Bowls or something that people want and need if they want a bail-out?
I would have to say I lucked out, with IS&T maintaining Nortel VOiP system for 1600 users, part of building an upgrader in Alberta,still have 2yrs left until completion
If we were just exporting cars and wood, the benefits of a stimulus package would just delay the inevitable

Other industries make up a big portion of our exports such as industrial machinery, aircraft, telecommunications equipment, electronics, chemicals, plastics, fertilizers, and aluminum, all of which would benefit from a stimulus pakage.

The entire world will be in a recession/depression so whether the US is the principle trading partner is imaterial.

Maybe the downturn will provide the incentive to broaden our trading base to such developing countries as India, China, Brazil, Mexico and also to the EU and Japan and not be so heavily dependant on the US

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