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Dec 7 - Canadian economy shed 71K jobs in Nov biggest loss since the financial crisis


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 1 month ago '05        #1
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bobbysteels18  topics gone triple plat - Number 1 spot x2
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Dec 7 - Canadian economy shed 71K jobs in Nov biggest loss since the financial crisis
 

 
Canadian economy shed 71K jobs in November ó biggest loss since the financial crisis

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The Canadian November labour market posted its biggest monthly job loss and largest unemployment upswing since the financial crisis over a decade ago, Statistics Canada data show. The economy shed 71,200 jobs last month, while the jobless rate jumped to 5.9 per cent, up from 5.5 per cent in October.

Economists on average had expected a gain of 10,000 jobs and the unemployment rate to hold steady at 5.5 per cent, according to financial markets data firm Refinitiv.

Instead, the data showed job losses spread across industries and job types, with both full-time and part-time positions axed, CIBC economist Royce Mendes wrote in a note to clients.

The goods-producing sector lost 26,600 jobs in the month as the number of manufacturing jobs fell by 27,500 jobs and the natural resources sector shed 6,500. Meanwhile, the services sector lost 44,400 jobs as the number of public administration jobs fell by 24,900 jobs in November.


The loss in jobs came as both full-time and part-time employment moved lower. The number of full-time jobs fell by 38,400, while part-time employment fell 32,800.

Regionally, Ontario and Prince Edward Island were the only provinces to see job growth in the month. Quebec lost 45,100 jobs in November due to a decline in manufacturing as well as accommodation and food services. Alberta and B.C. both lost 18,200 jobs.

While Statistics Canadaís Labour Force Survey is known to be subject to sharp swings, the November report paints a grim picture, BMO economist Robert Kavcic wrote in his analysis of the numbers.

The steep job losses could reflect a retrenchment after several months of outsized employment gains that didnít entirely jive with more modest underlying economic growth, several economists noted.

Still, the less volatile jobless rate number also showed the largest monthly jump since 2009, noted RBC economist Nathan Janzen. The 2009 job losses were tied to the global financial crisis.

Overall, though, the year-to-date jobs tally for 2019 remains positive, with the economy adding 26,000 net new jobs between January and November. Another silver-lining came from wage data, which showed a 4.5 per cent increase year over year, up from 4.3 per cent in October, Janzen wrote.

The weak job numbers have implications for the Bank of Canada, which has so far stood out among other rich-country central banks for not cutting interest rates amid worries about a global economic slowdown.

visit this link https://globalnews.ca/new .. ancial-crisis/
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 1 month ago '19        #2
blessings  topics gone triple plat - Number 1 spot x81
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Duck tales . Canada living good yeh
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 1 month ago '05        #3
bobbysteels18  topics gone triple plat - Number 1 spot x2 OP
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 Bucks414 said
meanwhile U.S's economy is in the GREEN

Trump got the last laugh

I read Trudeau said he don't have a magic stick to make these jobs come back its time for to Canada expect low jobs growth smh.


Last edited by bobbysteels18; 12-08-2019 at 02:06 AM..

 1 month ago '15        #4
naledgestate 
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 Bucks414 said
meanwhile U.S's economy is in the GREEN

Trump got the last laugh
Half Americans are making less than 30,000 dollars a year.

62% of Americans make less than 40,000 dollars a year. Yeah! Go Trump! MAGA!

Data:

Most new jobs are gig jobs like uber drivers, Amazon flex employees, Grubhub drivers.... no benefits, no insurance.

The nations largest employer, Wal-mart, has most of its employees on welfare.

Majority of Americans cant afford a 500$ emergency. To be fair, Obama's economy started this trend of of adding these "gig economy jobs" but what the fu*k could he have done about it?

Most knowledgeable people know that a U.S president doesnt have that much input at the macroeconomic level.

Germany's unemployment rate is 3.1%. Japan's unemployment rate is 2.4% etc. The global economy is doing good, but you pull that rug out..... most Americans would struggle more than your average German and Japanese citizen because all this sh*t is fake news.


Last edited by naledgestate; 12-08-2019 at 03:03 AM..
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 1 month ago '07        #5
240ka 
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 Bucks414 said
meanwhile U.S's economy is in the GREEN

Trump got the last laugh
Yes thanks to Obama and his administration.
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 1 month ago '06        #6
mrep3 
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 Tacko Fallspaus said
Duck tales . Canada living good yeh
n*ggas probably just went off the grid to sell weed
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