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mises
Joined: 05 Nov 2007
Location: retired
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 Posted: Fri Feb 06, 2009 8:09 am Post subject: Canada lost 129,000 in January |
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| Employment fell by 129,000 in January (-0.8%), almost all in full time, pushing the unemployment rate up 0.6 percentage points to 7.2%. This drop in employment exceeds any monthly decline during the previous economic downturns of the 1980s and 1990s. |
http://www.statcan.gc.ca/daily-quotidien/090206/dq090206a-eng.htm
This is significantly worse than the horrible horrible job data in the US for Jan (on a % basis). Canada was said to be immune due to the well-run banking sector (which is somewhat true, it is well run) but our position as a commodity exporter and the large FIRE economy is tearing us down. |
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Captain Corea
Joined: 28 Feb 2005
Location: Seoul
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| Posted: Fri Feb 06, 2009 5:15 pm Post subject: |
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| I'm curious about how much of that was in Alberta |
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mises
Joined: 05 Nov 2007
Location: retired
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Ya-ta Boy
Joined: 16 Jan 2003
Location: Established in 1994
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| Posted: Fri Feb 06, 2009 5:24 pm Post subject: |
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| That would be horrendous if the same percentage happened in the US. |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Fri Feb 06, 2009 5:24 pm Post subject: |
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| Ya-ta Boy wrote: |
| That would be horrendous if the same percentage happened in the US. |
Yeah. Multiply by 10. |
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khyber
Joined: 16 Jan 2003
Location: Compunction Junction
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| Posted: Fri Feb 06, 2009 5:44 pm Post subject: |
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Alberta went from 4.2% to 4.4% in January. Apparently, a healthy economy has around 5% so we're still doing okay. I'm looking for part time work and there is certainly opportunity out there. Yes, things ARE slowing up in the mac (which may make people worried). What's interesting is the impact that is having on small towns in Newfoundland. Heard a report on CBC.
Things here can be a bit bloated on the media. YES, things are bad but there are other things that are brilliant! Locking in a 3.85% mortage over 10 years? That's shockingly great. I can only hope that the majority of this money gets into out there as fast as possible. Last I heard (when they were supposed to have dispensed of $2.5million), they'd only managed $113,000 |
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blaseblasphemener
Joined: 01 Jun 2006
Location: There's a voice, keeps on calling me, down the road, that's where I'll always be
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| Posted: Fri Feb 06, 2009 11:26 pm Post subject: |
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| khyber wrote: |
| Locking in a 3.85% mortage over 10 years? That's shockingly great. |
I'm not sure where you're getting your numbers. I just checked the CIBC posted rates for a 10-year fixed mortgage, and it was 7%. |
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Insidejohnmalkovich
Joined: 11 Jan 2008
Location: Pusan
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| Posted: Fri Feb 06, 2009 11:38 pm Post subject: |
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| Perhaps that means there will be many more Canadian teachers available for hire, so we can fire the lazy ones. |
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crusher_of_heads
Joined: 23 Feb 2007
Location: kimbop and kimchi for kimberly!!!!
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| Posted: Sat Feb 07, 2009 12:21 am Post subject: |
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| Insidejohnmalkovich wrote: |
| Perhaps that means there will be many more Canadian teachers available for hire, so we can fire the lazy ones. |
You're fired. |
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aquaponics08
Joined: 22 Dec 2008
Location: Korea
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| Posted: Tue Feb 10, 2009 12:33 pm Post subject: |
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| They have jobs in Canada?!? Judging from the number of hosers here, I thought most of Canada's population was in Korea! |
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GwangjuParents
Joined: 31 Oct 2008
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| Posted: Tue Feb 10, 2009 11:42 pm Post subject: |
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| Quote: |
| Canada was said to be immune due to the well-run banking sector |
That's propaganda from the banking and real estate sector.
Canadians banks have until recently been giving out 0 down 40 year mortgages to people with no money (usually young couples, many of whom are about to get very seriously burned in the downturn that Canada has just sunk in to).
A lot of Canadian banks also had their fingers heavily in the US sub prime mess, and they are getting burnt too.
Canada generally lags a year to 2 years behind the US. Right on schedule, the huge financial mess that hit the US is now hitting Canada. |
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awesome.ahsah!
Joined: 07 Jan 2009
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| Posted: Wed Feb 11, 2009 1:20 am Post subject: Ouch! |
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| These are truly difficult times we are lilving in. Thank goodness that most of have jobs in education! |
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