Economy pumps out 45,000 jobs, unemployment rate dips to 6.5%


mentalfloss
#1
But the conbots always said liberals are bad for the economy.

Que pasa?


Economy pumps out 45,000 jobs, unemployment rate dips to 6.5%

Canada's unemployment rate is down to 6.5 per cent after the economy churned out a better-than-expected 45,000 jobs in June.

Most of those gains, however, were in part-time positions.

Still, over the course of 12 months, Canada has created 351,000 jobs, most of them full-time.

And notably, Statistics Canada said Friday, employment gains in the second quarter, of 103,000, mark the strongest quarterly showing since 2010.

The jobless rate dipped one notch, from 6.6 per cent in May.

Ontario and British Columbia, the jobs powerhouses in Canada of late, led the way again in June, according to the federal agency.

Particularly strong was B.C., which pumped out 20,000 new jobs as unemployment declined by a hefty half of a percentage point to 5.1 per cent.

By sector, professional, scientific and technical services led the charge.

The Canadian dollar shot up after the Statistics Canada report, buoyed by mounting speculation that Bank of Canada Governor Stephen Poloz and his colleagues will raise their benchmark rate as early as next week.

"We had held on to our October forecast for a Bank of Canada rate hike, but concede that's likely to end up off the mark, as today's jobs numbers cement the case for the central bankers to raise rates in the coming week," said CIBC World Markets chief economist Avery Shenfeld.

"June's job gains were widely spread across goods and services, split evenly between paid jobs and self-employment, with the only disappointment being a leaning to part-time jobs, although full-time jobs are still up a heady 1.7 per cent in the past year," he added.

"In sum, the jobs market is tightening, and not far from what historically has been judged as full employment. Over to you, Governor Poloz."

https://beta.theglobeandmail.com/rep...service=mobile
 
JamesBondo
+2
#2  Top Rated Post
Jobs are a good thing, Mentalfloss. You should get one or two of them.
 
Jinentonix
No Party Affiliation
#3
How nice, more work for TFWs. And I'm sorry but anyone who considers a part-time job as "employment" is an idiot. And how many of the new jobs are actually just seasonal work? After all, tis the season for farm labour.
And of course everybody loves to neglect factoring how much of the decrease in unemployment is a result of at least some people no longer actively seeking work. Which means for statistical purposes those people are no longer unemployed.
 
Corduroy
+1 / -1
#4
√ - foreigners!
√ - part time!
√ - seasonal!


Incredulous conservative runs through every excuse he can think of.
 
Angstrom
No Party Affiliation
+2
#5
well lets hope so. Trudeau has spent how many billions we don't have on infrastructure? If 45000 jobs is all that added im a little worried.
 
mentalfloss
#6
Solid Canada job gains in June set stage for next move by Poloz

Quote: Originally Posted by Corduroy View Post

√ - foreigners!
√ - part time!
√ - seasonal!

Incredulous conservative runs through every excuse he can think of.


He forgot to blame Omar Khadr.
 
Danbones
Free Thinker
#7
Why the Real Unemployment Rate is Double the ‘Official’ Unemployment Rate

Canada makes it much more difficult to know its real unemployment rate. The official Canadian unemployment rate for February was 6.8 percent, a slight increase from January that Statistics Canada attributes to “more people search[ing] for work.” The official measurement in Canada, as in the U.S., European Union and Australia, mirrors the official standard for measuring employment defined by the International Labour Organization — those not working at all and who are “actively looking for work.” (The ILO is an agency of the United Nations.)

Statistics Canada’s closest measure toward counting full unemployment is its R8 statistic, but the R8 counts people in part-time work, including those wanting full-time work, as “full-time equivalents,” thus underestimating the number of under-employed by hundreds of thousands, according to an analysis by The Globe and Mail. There are further hundreds of thousands not counted because they do not meet the criteria for “looking for work.” Thus The Globe and Mail analysis estimates Canada’s real unemployment rate for 2012 was 14.2 percent rather than the official 7.2 percent. Thus Canada’s true current unemployment rate today is likely about 14 percent.

Everywhere you look, more are out of work

https://www.counterpunch.org/2015/03...ployment-rate/

lol
They explain quite clearly, and in detail why you can't trust this type of number at all.
Details that will clearly escape some.
Try the governments number for inflation...
Last edited by Danbones; Jul 8th, 2017 at 06:50 AM..
 
mentalfloss
+1
#8
Alex Jones?
 
Danbones
Free Thinker
+1
#9
You don't really have a grip on stats at all do you?

Can't tell the difference between the globe and mail and alex jones?
try taking the knitting needle out of your frontal lobe
 
mentalfloss
#10
My point is the what you post is as credible as Alex Jones.
 
Danbones
Free Thinker
#11
You mentioned alex jones, I am quoting the globe and mail...how fake news can you get?

So... can I point out how stupid you are for them that won't get that either, or have you done a great job of that yourself already?

Love what AJ did to that ol 'tarded bag whats 'er name!
 
mentalfloss
#12
Still doesn't serve your idiotic purpose because you would have to retroactively apply that value which would show the same proportional improvement.

Stop being dumb.
 
Angstrom
No Party Affiliation
#13
Quote: Originally Posted by mentalfloss View Post

Alex Jones?

You have the same credibility.
 
White_Unifier
+1
#14
Quote: Originally Posted by Angstrom View Post

well lets hope so. Trudeau has spent how many billions we don't have on infrastructure? If 45000 jobs is all that added, I'd a little worried.

Spot on! Anyone can grow the economy on borrow and spend, at least in the short term. Given how much the present government is borrowing and spending, we should be experiencing a massive boom by now.
 
taxslave
Free Thinker
+1
#15
Quote: Originally Posted by White_Unifier View Post

Spot on! Anyone can grow the economy on borrow and spend, at least in the short term. Given how much the present government is borrowing and spending, we should be experiencing a massive boom by now.

That only works if the borrowed money is spent within the country. So far that hasn't happened.
 
White_Unifier
#16
Quote: Originally Posted by taxslave View Post

That only works if the borrowed money is spent within the country. So far that hasn't happened.

Actually, that's irrelevant. Should all of that borrowed money go towards imports, that would lower the value of the Canadian dollar and consequently cause an export boom. So either way, borrow and spend should be booming the Canadian economy.

I think the real problem is that Canada has been so indebted since at least the 1960's that much of that money just goes towards paying the interest on the debt. That's nothing more than recycled money. The government borrows from me to then pay me the interest on what it owes me. Not reassuring in the least. And since it's just taking my money to return it to me, that does nothing for the economy.

If Canada were debt-free, then yes, borrow and spend would cause a massive economic boom. But once it's already debt-ridden, borrow and spend serves just to postpone an eventual crash. It's just like amphetamines or even caffeine really: a non-user who uses it for the first time will get a boost of energy, whereas a regular user uses it just to keep up.

Tax and spend (preferably with more tax and less spend) is far more sustainable over the long run, but granted it's also far less popular because people actually feel the real cost of the government's spending right away. Borrow and spend produces a disconnect with all the benefits without the negatives until later... just like narcotics really.
 
mentalfloss
#17
‘The Canadian economy is really firing on all cylinders’: Morneau | Financial Post
 
mentalfloss
#18
Harper could never do this:

Bank of Canada raises interest rate for 1st time in 7 years to 0.75% - Business - CBC News


Conservatives have now officially lost on the economy.
 
White_Unifier
#19
Quote: Originally Posted by mentalfloss View Post

Harper could never do this:

Bank of Canada raises interest rate for 1st time in 7 years to 0.75% - Business - CBC News


Conservatives have now officially lost on the economy.

How so?

Though I acknowledge that the government has only some control over interest rates and so I won't blame Morneau entirely for it, a borrow-and-spend policy definitely increases the probability of the Bank needing to raise interest rates.

While higher rates are a good thing for me personally, I don't see how they benefit Canada's poor who will tend to benefit from lower rates.

So are you saying that Flaherty was the champion of the poor when it came to interest rates whereas Morneau is just helping rich investors?
 
mentalfloss
#20
I'm saying that on common measures of economic performance (whether you personally agree or not), such as GDP growth, jobs and diversity of industry, Liberals are killing it.
 
petros
+1
#21
Killing it.
 
White_Unifier
#22
Quote: Originally Posted by mentalfloss View Post

I'm saying that on common measures of economic performance (whether you personally agree or not), such as GDP growth, jobs and diversity of industry, Liberals are killing it.

If I want to perform well in the short term, a shot of crystal meth will do. If I want to perform well in the long term, I need a healthy balanced diet.

Borrow and spend is the shot of meth, tax and save is the healthy balanced diet.
 
petros
#23
Jiberals?
 
darkbeaver
Republican
+1
#24
Quote: Originally Posted by mentalfloss View Post

I'm saying that on common measures of economic performance (whether you personally agree or not), such as GDP growth, jobs and diversity of industry, Liberals are killing it.

I believe you are frequently not in touch with the bigger picture IE the rest of the world which is mired in war and unsustainable debt plus record economic dispair that you hope to convince readers that we are the victims of a liberal government in that we Canadians are somehow divorced from the global economic wreakage. There's only one way out, WAR, the bigger the better.

Never mind the dead patriots they would have starved to death anyway, let's arrange to have them shot and blown up in Europe again and triple our investments and and make a clean fresh start, well almost clean, the carrion eaters will grow fat at least.
 
mentalfloss
#25
Poor Saskatchewan

Canada trade data show economic strength ahead of rate decision
https://beta.theglobeandmail.com/rep...service=mobile
 
White_Unifier
#26
Quote: Originally Posted by mentalfloss View Post

Poor Saskatchewan

Canada trade data show economic strength ahead of rate decision
https://beta.theglobeandmail.com/rep...service=mobile

Anyone can prime the economy on borrow and spend. That does not require much skill, really.
 
mentalfloss
#27
Canada is doing well from coast to coast to coast?

This is just awful!


'Sanity' returning to Toronto housing market, as Vancouver, Calgary show recovery: Royal LePage - Business - CBC News

All that praise must be really grating on you.