CALLED IT!! Canadian Economy loses 88,000 jobs in January


Jinentonix
No Party Affiliation
#1
CANADIAN ECONOMY LOSES 88,000 JOBS IN JANUARY as jobless rate climbs to 5.9%.

Canadian economy lost 88,000 jobs in January - Business - CBC News


Remember in the last quarter of 2017 how the Trudeau fluffers were crowing about all the jobs created under his aegis?
Remember how I kept saying that it was a result of the lead-up to the big holiday hirings we see every year and that they were primarily part-time jobs that will disappear come the new year?
Remember how I said we'll see how it plays out come January-February? Well there you have it.

The drop in employment is also the biggest one month slide in 9 years. So basically, over 60% of the jobs that were added in November-December are now gone. And just like I said they were, almost all of those now disappeared jobs were merely part-time. This runs contrary to a previously released economic report that stated job losses for January would be around 9,000.

On the "plus" side, as the economy shed 137,000 part-time jobs in January, it did add 49,000 full-time jobs.

As for the Trudeau fluffers in here who may be wondering how I knew this would happen, it's easy. It's called paying attention instead of taking as gospel what the govt and their organs tell you to think.
This happens every year. There's a decent run on jobs during the last 2-3 months of any given year followed by big job losses in the new year as the part-timers are no longer needed for the holiday rush.
 
petros
+1
#2  Top Rated Post
More than just C-mas jobs...

Quote:

The drop in employment is also the biggest one month slide in 9 years.

 
Hoid
#3
That should take the next rate hike off the table.
 
Jinentonix
No Party Affiliation
#4
Quote: Originally Posted by Hoid View Post

That should take the next rate hike off the table.

Until the second half of the year anyway.
 
Corduroy
#5
Quote: Originally Posted by Jinentonix View Post

This happens every year.

Jobs went up in January 2017, down in 2016 and up in 2015.
 
Jinentonix
No Party Affiliation
+1
#6
Quote: Originally Posted by Corduroy View Post

Jobs went up in January 2017, down in 2016 and up in 2015.

Yes they did. And a rather decent showing for Jan 2017 with 40,000 net job gains. Jobs actually remained the same in Jan 2016, just the unemployment rate went up by 1.2 %. Probably due in part to immigration.
And the misunderstanding is my fault actually. When I said it happens every year I was meaning the jobs that always come around between Oct-Dec and tend to evaporate by the end of January. I didn't mean there's never any net job gains in January.

I think a good part of the losses can be blamed on the Wynned Bag rushing the $15 minimum wage through for the sake of political expediency more than any concern for the low income workers.
Several other provinces have announced $15/hr legislation. The difference is they're taking their time to do it. Over three years in the case of BC. The Wynned Bag is increasing it in 18 months where the largest bulk of the increase came just half a year after the announcement and about half a year before an election.
Buying votes with the money of small business owners in an attempt to shore up your dismal approval ratings is not a smart plan.

But, we'll see what happens when those provinces' $15/hr minimum wage kick in. Hopefully the fact they're giving employers time to adjust will provide a better result.
 
mentalfloss
#7
Oh noes we lost some part time jobs for a month.

OP is desperate.
 
petros
#8
Quote: Originally Posted by Jinentonix View Post

And the misunderstanding is my fault actually. When I said it happens every year I was meaning the jobs that always come around between Oct-Dec and tend to evaporate by the end of January. I didn't mean there's never any net job gains in January.

Christmas goods start hitting ports in August. Logistics jobs jump.
 
Corduroy
+1
#9
Quote: Originally Posted by Jinentonix View Post

Yes they did. And a rather decent showing for Jan 2017 with 40,000 net job gains. Jobs actually remained the same in Jan 2016, just the unemployment rate went up by 1.2 %. Probably due in part to immigration.
And the misunderstanding is my fault actually. When I said it happens every year I was meaning the jobs that always come around between Oct-Dec and tend to evaporate by the end of January. I didn't mean there's never any net job gains in January.

Sure, but you used that argument to mock "the Trudeau fluffers". If those retail jobs always disappear in January then when they did go up in 2017 and 2015, wouldn't you credit Trudeau? Job numbers increased in those months despite a seasonal tendency for them to decrease. Certain December gains and January loses are beyond the influence of the government, so a strong gain in January is that more impressive.

The conditions would have been the same in 2016/2017. Retail spikes in December and drops in January. Would you have predicted job losses in January 2017? Saying that any bump was just the Christmas season? Did you have any information to indicate that jobs would continue to increase in January 2017 and so could have predicted it?

I doubt it. I think your predictions come from your dislike of Trudeau and nothing else. In the thread about the January 2017 jobs gains, Liberal-detractors dismissed it as temporary jobs and part time minimum wage jobs. You all have a ready bag of built in arguments to dismiss any job increases while the Liberals are in power. When the tables turn, the other side will be making the same arguments.

This forum is full of threads from every month gloating about either job gains or job losses depending on the poster's political stripe. It's hard to take any of you seriously. You're not exactly approaching the topic with any sort of analytic eye or special knowledge of the situation. It's just about what team you're on. It's tiresome. You all need to check yourselves.