Once these latest stats sink in, we’ll probably hear more calls for “stimulus”. In reality, it’s precisely this “stimulus” that results in an avalanche of government borrowing that hoovers up and destroys capital that could have been otherwise used to refit aging industrial infrastructure. Covid theater is taking a huge toll as well.
Canada’s labour market lost 207,000 jobs last month as a spike in COVID-19 variant cases led to renewed public health restrictions and raised concerns about longer-term economic consequences from the pandemic.
The unemployment rate rose to 8.1 per cent from 7.5 per cent in March, Statistics Canada reported. It would have been 10.5 per cent had it included in calculations Canadians who wanted to work but didn’t search for a job.
(Addendum from Kate — In mostly open Saskatchewan, employment increased by 9,500 (+1.7%) and the unemployment rate fell 0.7 percentage points to 6.6%. Oddly enough.)
I thought Blackie was going to have everyone plant trees this summer?
https://financialpost.com/news/economy/canada-loses-68000-jobs-in-may-more-than-triple-the-forecasts
But everybody working in the 3 levels of government rolled right along and that’s all that matters.
Expect the Universal Basic Income communists to start bleating again although I doubt they ever stopped.
“The government’s gotta do somethin!”
And they will. Cue the flushing toilet.
Their stats are BS at least here in this part of Alberta. On my street with 12 houses, we have 3 full time workers, in 3 homes. 1 home just the woman working full time in retail. 2 part time truck drivers everybody else is on some kind of part time work or government dole. 2 homes are retiree’s and 1 one is preacher with a closed down church.
Do your own survey.
Logic and critical thinking is so damn difficult. Shut everything down because of the flu and then wonder why the economy is in the freaking toilet. I know , they are all stupid, ALL OF THEM.