We're number one! Canada has highest unemployment rate in the G7

Anonymous · October 01, 2020, 03:26:19 PM

Six months into the COVID-19 pandemic we should all be concerned that Canada continues to have the highest unemployment rate among G7 nations.

According to the Organization for Economic Co-operation and Development (OECD) based on the latest data from G7 countries, Canada's August unemployment rate of 10.2% is the worst in the G7, well above the OECD average, which includes Canada, of 7.7%.

In descending order, Italy's unemployment rate is next highest at 9.7%, followed by the U.S. (8.4%), France, (6.9%), Germany (4.4%), United Kingdom (3.8%) and Japan (2.9%).

While Canada's unemployment rate is down from 13.7% in May — the highest level in more than four decades of comparable data — Statistics Canada noted last month that if the August rate of 10.2% included people who want to work but have stopped looking because of the lack of available jobs, the adjusted unemployment rate would be 13%.

Given high unemployment, the prospect of going into renewed national or regional lockdowns in the face of a second wave of COVID-19 would be devastating to the economy.

Particularly in Ontario and Quebec, the two largest provinces and the epicentres of the pandemic in Canada.

Canada's high unemployment rate relative to the G7 also raises the question of whether federal pandemic relief programs are poorly designed, discouraging people from going back to work.

What has been absent is a coherent economic recovery plan to return employment to pre-pandemic levels, while Trudeau keeps doling out ever-increasing, taxpayer-funded relief programs, which Parliamentary Budget Officer Yves Giroux warned Tuesday are approaching financially unsustainable levels.

As much as he might want to do so, Trudeau can't keep this up forever because, in the memorable phrase of the late Conservative British Prime Minister Margaret Thatcher, "the problem with socialism is that eventually you run out of other people's money."

The final concern is that with the make-up of Canada's current minority Parliament — where the Liberals and NDP together control the majority of seats — all the political pressure on Trudeau coming from NDP leader Jagmeet Singh will be to spend more, the philosophical direction in which Trudeau wants to go anyway.

In other words, we're in the grip of two politicians who believe you can spend yourself rich.

https://torontosun.com/opinion/columnists/goldstein-were-number-one-highest-unemployment-rate-in-the-g7">https://torontosun.com/opinion/columnis ... -in-the-g7">https://torontosun.com/opinion/columnists/goldstein-were-number-one-highest-unemployment-rate-in-the-g7

Congratulations Justin. You made us number one.

Anonymous · October 01, 2020, 03:47:07 PM

We were in trouble before COVID began..

Investments and jobs were leaving Canada for more friendly destinations.

Renee · October 01, 2020, 04:22:39 PM

~~Quote from: Fashionista post_id=385063 time=1601581627 user_id=3254~~
We were in trouble before COVID began..

Investments and jobs were leaving Canada for more friendly destinations.

Yeah, how's that pubescent male underwear model in Ottawa working out for you guys?

Maybe you should have paid attention when your neighbors to the south elected the guy that dumped all those oppressive Obama regulations on business and such? Maybe the boy king should have not snubbed our Mr. Trump and made the attempt to get with a better trade deal? Maybe pretty boy needs to start seeing the world as it is and stop thinking it's a high school prom.

I normally stay clear of criticizing Canadian politics. Frankly there really isn't enough going on to criticize but how in fucks name do you people stomach having that snotty, little, pretentious, soy boy as the leader of your country? But I guess just like Obama was, he is the man your media wants to project as a 21st century leader. An otherwise empty suit stuffed with identity politics and a liberal dose of P.T. Barnumesque bullshit.

Anonymous · October 01, 2020, 04:35:00 PM

~~Quote from: Renee post_id=385074 time=1601583759 user_id=156~~
~~Quote from: Fashionista post_id=385063 time=1601581627 user_id=3254~~
We were in trouble before COVID began..

Investments and jobs were leaving Canada for more friendly destinations.

Yeah, how's that pubescent male underwear model in Ottawa working out for you guys?

Maybe you should have paid attention when your neighbors to the south elected the guy that dumped all those oppressive Obama regulations on business and such? Maybe the boy king should have not snubbed our Mr. Trump and made the attempt to get with a better trade deal? Maybe pretty boy needs to start seeing the world as it is and stop thinking it's a high school prom.

I normally stay clear of criticizing Canadian politics. Frankly there really isn't enough going on to criticize but how in fucks name do you people stomach having that snotty, little, pretentious, soy boy as the leader of your country? But I guess just like Obama was, he is the man your media wants to project as a 21st century leader. An otherwise empty suit stuffed with identity politics and a liberal dose of P.T. Barnumesque bullshit.

We had to get rid of that Mensa member economist former pm Stephen Harper. He balanced the budget after the financial crisis, put more money in the pockets of families, negotiated smart trade deals, created a welcoming investment climate where good jobs were created and Canada's middle class was more prosperous than in the US under Obama. On top of all that, he had the added burden of being a respected global statesman.

But, the state owned Liberal Party propaganda arm, CBC was terrified he would privatize their corrupt asses and Harper derangement syndrome was born and became a daily thing for nine and a half years. Besides, he had a paunch, grey hair and wore glasses. Trudeau has the depth of a finger bowl, but look at that hair. Harper had no chance in 2015.

Superchecker · October 02, 2020, 07:52:25 AM

There are always jobs for those who really want to work...

http://www.workbc.ca/">www.workbc.ca/

Anonymous · October 02, 2020, 09:07:59 AM

~~Quote from: Superchecker post_id=385224 time=1601639545 user_id=101~~
There are always jobs for those who really want to work...

http://www.workbc.ca/">www.workbc.ca/

Retail everywhere seems to be hiring.

Anonymous · October 02, 2020, 11:37:01 AM

Europe is going in the opposite direction of the US.

Unemployment in Europe rises as jobs continue to vanish

The jobless rate rose for a fifth straight month in August

pgrecaud/123RF

Unemployment rose for a fifth straight month in Europe in August and is expected to grow further amid concern that extensive government support programs won't be able keep many businesses hit by coronavirus restrictions afloat forever.

The jobless rate increased to 8.1% in the 19 countries that use the euro currency, from 8.0% in July, official statistics showed Thursday. The number of people out of work rose by 251,000 during the month to 13.2 million.

While Europe's unemployment rate is still modest compared with the spike seen in many other countries, economists predict it could hit double digits in coming months as wage support programs expire. A resurgence in infections in many countries meanwhile has led to new restrictions on businesses and public life that may have to be broadened and could lead to more layoffs.

https://www.investmentexecutive.com/news/research-and-markets/unemployment-in-europe-rises-as-jobs-continue-to-vanish/">https://www.investmentexecutive.com/new ... to-vanish/">https://www.investmentexecutive.com/news/research-and-markets/unemployment-in-europe-rises-as-jobs-continue-to-vanish/

Superchecker · October 02, 2020, 02:06:45 PM

~~Quote from: Fashionista post_id=385233 time=1601644079 user_id=3254~~
~~Quote from: Superchecker post_id=385224 time=1601639545 user_id=101~~
There are always jobs for those who really want to work...

http://www.workbc.ca/">www.workbc.ca/

Retail everywhere seems to be hiring.

http://www.workbc.ca/">www.workbc.ca/

Anonymous · October 02, 2020, 02:26:14 PM

There are jobs in Manitoba too. But, so many industries are either still shut down or at half capacity.

Anonymous · November 05, 2020, 01:30:57 PM

Some good news for a change. GM to reopen Oshawa plant to make trucks, hiring up to 2,500 workers, says union

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We're number one! Canada has highest unemployment rate in the G7

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