Ontario’s jobless rate hits 16-year low

[mentalfloss]

Bubububu socialist lieberals!!!


Ontario’s jobless rate hits 16-year low

Unemployment in Ontario has fallen to its lowest rate in 16 years — 5.7 per cent — as the province reported another month of job growth in August.

“This has been another outstanding month for job growth,” Economic Development Minister Brad Duguid said at Queen’s Park Friday morning. “In all, we’re up 31,000 net new jobs. If you combine that with the other outstanding month we had (in July), we’re up well over 50,000 net new jobs in the last two months alone.”

With unemployment dropping to levels not seen since 2001, Duguid — a hockey enthusiast — said “to put that in perspective, Connor McDavid was in junior kindergarten the last time the unemployment rate was this low.”

Across Canada, the jobs market remained strong, with 22,200 positions added in August and a countrywide unemployment rate of 6.2 per cent, down from 6.3 per cent in July — which is also a nine-year low.

https://www.thestar.com/business/economy/2017/09/08/canadas-jobless-rate-hits-nine-year-low.html

 

[Tecumsehsbones]

All credit and honor to Orange Julius!

 

[White_Unifier]

good. so now the Government could start increasing taxes or preferably reducing spending and start paying off the provincial debt. Isn't that what Keynes would propose under the circumstances?

 

[mentalfloss]

I'm not sure about Keynes, but whatever they do, it should be in the best interest of Ontarians.

 

[White_Unifier]

I'm not sure about Keynes, but whatever they do, it should be in the best interest of Ontarians.

The Ontarians of today only or including those of the future too?

 

[mentalfloss]

And the ones from the past.

 

[justlooking]

Bubububu socialist lieberals!!!

However, nationally, as in Ontario, most of the growth was in part-time work, with 110,400 additional part-time jobs but

88,100 fewer full-time ones.
In Ontario, full-time positions were down 26,000, and part-time up 57,000,

Really, this is something to celebrate ?

Lieberals are a joke, it's just more lies and BS for the masses.. and flossy gargles it all.

 

[darkbeaver]

Bs bs bs bs bs bs bs bs bs bs bs, please ban mentalfukked!

 

[Jinentonix]

Bubububu socialist lieberals!!!


Ontario’s jobless rate hits 16-year low

Unemployment in Ontario has fallen to its lowest rate in 16 years — 5.7 per cent — as the province reported another month of job growth in August.

“This has been another outstanding month for job growth,” Economic Development Minister Brad Duguid said at Queen’s Park Friday morning. “In all, we’re up 31,000 net new jobs. If you combine that with the other outstanding month we had (in July), we’re up well over 50,000 net new jobs in the last two months alone.”

With unemployment dropping to levels not seen since 2001, Duguid — a hockey enthusiast — said “to put that in perspective, Connor McDavid was in junior kindergarten the last time the unemployment rate was this low.”

Across Canada, the jobs market remained strong, with 22,200 positions added in August and a countrywide unemployment rate of 6.2 per cent, down from 6.3 per cent in July — which is also a nine-year low.

https://www.thestar.com/business/economy/2017/09/08/canadas-jobless-rate-hits-nine-year-low.html

:lol: :lol: :lol: :lol: What a f*cking whank-fest. Wow, it only took them 14 years to finally achieve something positive. Enjoy it while you can. Wait until the $15/hr minimum wage kicks in and watch the employment levels in Ontario take a shit.

 

[brah]

Bs bs bs bs bs bs bs bs bs bs bs, please ban mentalfukked!

.....and there it is.

You'd fit in at Berkeley.

As well as the boss of this site....and the mods.

"snicker"

 

[Walter]

I'm not sure about Keynes, but whatever they do, it should be in the best interest of Ontarians.

Why start now?

 

[Bar Sinister]

good. so now the Government could start increasing taxes or preferably reducing spending and start paying off the provincial debt. Isn't that what Keynes would propose under the circumstances?

Ah, but that is the problem. Keynesian economics generally only seems to be practiced one way; to stimulate the economy. When good times return governments often go on an even bigger spending spree. Of course, in Alberta Ralph Klein and his successors practiced reverse Keynesianism in which the province drastically cut spending during economic downturns and then spent wildly during economic recovery. The only government I can remember actually practicing Keynes properly was the Liberal government under Jean Chretien who reduced Canada's national debt from 70% of GNP to 41%.

 

[Johnnny]

from article

Nationally, Statistics Canada said most of the decline in full-time work was concentrated among young Canadians aged 15 to 24 years old. The youth category also showed a notable decrease last month in participation as fewer young people looked for work.

This is bad, because this is why we are continuing to see and increase in the skills and experience gap between the generations.

And of course the kids aren't applying. They don't have 3-5 yrs experience for an entry level position.

 

[White_Unifier]

Ah, but that is the problem. Keynesian economics generally only seems to be practiced one way; to stimulate the economy. When good times return governments often go on an even bigger spending spree. Of course, in Alberta Ralph Klein and his successors practiced reverse Keynesianism in which the province drastically cut spending during economic downturns and then spent wildly during economic recovery. The only government I can remember actually practicing Keynes properly was the Liberal government under Jean Chretien who reduced Canada's national debt from 70% of GNP to 41%.

Minimum wage laws also make it difficult to practice Keynesianism in good economic times due to a need to inflate the economy to compensate for the higher minimum wage. dog chasing its tail. Interestingly in Sweden, a highly unionized state even though most union shops are open shops, Swedish unions have been known in the past to even negotiate their wages down in tough economic times to maintain profits. There does exist a fundamental difference though. Sweden also has co-determination laws requiring half of the board of directors to be chosen by the workers. As a result, they can probably negotiate their wages down while also ensuring that management and shareholders all lower their own expectations too. In such a situation, more trust is built between all sides making it possible for all sides to negotiate their wages down when necessary.

If we compare that to the Canadian confrontational model, as we'd seen in the auto industry in 2008, all sides will dig in their heels to the point of mass layoffs and government needing to bail the industry out presumably since no side trusts the other and so no side is prepared to give an inch when necessary.

 

[taxslave]

So enough people had their pogey expire that it changed the jobless numbers.

 

[petros]

Why did it take 16 years?

 

[mentalfloss]

Why did it take 16 years?

NAFTA and Harper.

 

[Bar Sinister]

Minimum wage laws also make it difficult to practice Keynesianism in good economic times due to a need to inflate the economy to compensate for the higher minimum wage. dog chasing its tail. Interestingly in Sweden, a highly unionized state even though most union shops are open shops, Swedish unions have been known in the past to even negotiate their wages down in tough economic times to maintain profits. There does exist a fundamental difference though. Sweden also has co-determination laws requiring half of the board of directors to be chosen by the workers. As a result, they can probably negotiate their wages down while also ensuring that management and shareholders all lower their own expectations too. In such a situation, more trust is built between all sides making it possible for all sides to negotiate their wages down when necessary.

If we compare that to the Canadian confrontational model, as we'd seen in the auto industry in 2008, all sides will dig in their heels to the point of mass layoffs and government needing to bail the industry out presumably since no side trusts the other and so no side is prepared to give an inch when necessary.

I quite agree. Canada would do well to adopt the sort of worker-employee cooperation that exists in nations like Sweden. However, that would require that more workers be unionized.

 

[White_Unifier]

I quite agree. Canada would do well to adopt the sort of worker-employee cooperation that exists in nations like Sweden. However, that would require that more workers be unionized.

Actually, Swedish co-determination is entrenched in Swedish law, legislation, not union contracts.

Though I suppose that theoretically, if Canada wanted to go the root of negotiating co-determination laws in labour contracts instead, it could go that route. In that case though, then yes, mass unionization would be need for it to have any significant impact.

for that reason, especially in Canada, I think legislation would be the preferred way to go.

Also, no mandatory minimum wage has its own advantages too. For example, in Canada, in tough economic times, high-paid skill workers have the luxury of negotiating their wages down if necessary. With minimum-wage laws, that option is made illegal to unskilled workers. In Sweden, even unskilled workers can negotiate their wages down. That said, Sweden also has higher taxes and spends more on universal compulsory public education and trades and professional training for the unemployed which help raise overall skill levels so as to provide all Swedes with more sell-able skills. This way, rather than minimum-wage laws legislating them out of the labour market, they have skills training to raise their sell-able skills and so make them more attractive to potential employers, not less so.

A combination of higher taxes, more spending on skills training, freer trade, co-determination laws and and a more open-shop union culture all combine to help the poor within a more collaborative corporate structure and more in accordance with the laws of economics. The Canadian system undertaxes, underfunds education, legislates unskilled workers out of the legal market, promotes conflict between workers by allowing closed-shop unions, and provides no meaningful collaborative structure between workers and management.

 

[Bar Sinister]

Actually, Swedish co-determination is entrenched in Swedish law, legislation, not union contracts.

Though I suppose that theoretically, if Canada wanted to go the root of negotiating co-determination laws in labour contracts instead, it could go that route. In that case though, then yes, mass unionization would be need for it to have any significant impact.

for that reason, especially in Canada, I think legislation would be the preferred way to go.

Also, no mandatory minimum wage has its own advantages too. For example, in Canada, in tough economic times, high-paid skill workers have the luxury of negotiating their wages down if necessary. With minimum-wage laws, that option is made illegal to unskilled workers. In Sweden, even unskilled workers can negotiate their wages down. That said, Sweden also has higher taxes and spends more on universal compulsory public education and trades and professional training for the unemployed which help raise overall skill levels so as to provide all Swedes with more sell-able skills. This way, rather than minimum-wage laws legislating them out of the labour market, they have skills training to raise their sell-able skills and so make them more attractive to potential employers, not less so.

A combination of higher taxes, more spending on skills training, freer trade, co-determination laws and and a more open-shop union culture all combine to help the poor within a more collaborative corporate structure and more in accordance with the laws of economics. The Canadian system undertaxes, underfunds education, legislates unskilled workers out of the legal market, promotes conflict between workers by allowing closed-shop unions, and provides no meaningful collaborative structure between workers and management.

You don't have to try very hard to convince me that Sweden has a lot of political and economic institutions that are worth emulating. It is quite amazing what a socialist coalition can accomplish in 75 years of continued rule.