Not to worry. This provides a golden opportunity for the Bank of Canada to get interest rates down to the good old days of zero. If that doesn’t work, Justin can always blame Trump.
Canada had 1.5 million unemployed people in November, propelling its jobless rate to a near-eight-year high outside of the pandemic era and boosting chances of a large interest rate cut on Dec. 11.
…the youth unemployment rate for those aged between 15 and 24 years was the biggest contributor at 13.9 per cent.
As the minimum wage increases across the country, the number of entry level jobs is stubbornly reflecting the reality that entry level jobs aren’t worth paying a “living wage”.
Surprise, surprise, surprise!
The total number of jobs available to entry level workers (the young) are dropping at a faster rate than the minimum wage increases at.
If only someone had warned the poverty industry that small businesses and even larger ones can’t afford to pay that kind of money for jobs which require almost no skills and can be easily replaced by automation.
If you look at the payroll deduction tables and do the math, you will find that it is GOVERNMENT that gets the highest percentage growth and not the employee. And it’s ALL at the expense of the employers.
One quibble, if it was “easy” to replace unskilled workers with automation, there would be no humans working at McDonalds.
“Easy” changes as the prices of labour and automation change.
The mathematical question is simple, namely “Is 8 hours times minimum wage plus taxes like CPP contributions, insurance etc more or less than the daily amortized capital and operating costs of a machine.”
As an employer I know there are other considerations, such as flexibility, intelligence and treating minimum wage workers as apprentices, hoping they will grow into more useful workers.
But if the worker costs $160/day and the machine costs $80/day, the change is for sure “Easy”.
They’re trying.
At the one by my place, there’s only one front-counter person, and only one till. But there are at least four auto-tills. The counter person rarely takes an order: he/she is there only to bring them out for people and couriers. Drinks are self-service and have been for some time. The only other customer service people are at the drive-thru, and that probably won’t last all that much longer. Everyone else is prep and cleaning…and the lone supervisor trying to keep everything from going tits-up.
“those aged between 15 and 24 years was the biggest contributor at 13.9 per cent.”
The buttholes in charge import foreigners to do the jobs that previously were Canadian’s first jobs. Now, instead of learning how to work they are learning how not to work
Exactly
Well to be fair most good workers training starts at home.
Low interest rates just make home prices higher.
Or more affordable and easier on those renewing.
and sell somewhat faster.
l firmly decided 2 yrs ago on the heels of a reverse mtg to let go whilst the oing is good and put another 20,000+ into the place including labour to speed things up.
all l need now is sand and varnish the reused 3/8 oak living room floor. and lots of paint. the TURDeau did me a huge favour pushing up cost of housing ’cause l aint gonna buy another one. amlrite? ‘buy low sell high’? pd 69K 2003 my guess 2024-5 350k
unless lm still around when we have the nxt world depression and cars can be had in exchange for a pail of honey (according to my uncle Louis D)
The reality is far worse than that. The participation rate for the under 25 demographic is only around 65%, so the true unemployment rate is much higher. (https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1410028702)
Actually, I think the real number is closer to 58%, given the cheating going on with TFWs in the labour market – which leads to another problem: My research shows that nearly 70% of all job postings on the Employment Canada jobs portal are fake, which means that Canada’s job creation numbers are far worse than reported.
I’m researching this phenomenon right now. I have discovered what looks like rampant and systemic cheating in order to obtain LMIA assessments and visas for sale (primarily in India). What I have discovered is employers that don’t exist listing jobs that don’t exist, and then applying for TFW visas. I am told they are subsequently issuing “layoffs”, allowing the persons they sponsor (at a cool $25-50K each) to collect EI without ever having actually held a job.
Chris. I find this fascinating. I think you are absolutely onto the right assessment on the numbers and the manipulation of the system. I hate this federal government. Inept. Obtuse. Corrupt. Words don’t exist to describe it accurately.
And “hate” is not too strong a letter when referring to the feds.
Absolute shite?
Indeed. Anything published by government or reported by their toadies in media is suspect. It would be nice to know what’s really going on so that we may understand what we see around us. The Age of Lies is getting very annoying.
The auto-delete comment dysfunction has returned
Who would have guessed that deliberately crippling industry in Western Canada would affect the economy in the rest of the country?
There are a lot of voters in the 416/905 area code who would go for the “blame #TheDonald” explanation, and vote for more of it.
These are the same !@#%s who called the cops on their neighbors for having family over during Covid.
There is little to no discussion on the “Indian Mafia” who fund the purchase of established business’ and then “lease” them to common families. This happens in the motel, gas station and delivery services among others. This removes opportunity for entry level jobs in these areas and creates futile economic gains locally.
In many tourist areas in Ontario, motels have been purchased this way and staffing is usually within the family allowing for no ‘outside’ job opportunities. Not to mention skirting work place regulations and taxation…..but thats another kettle of fish.
New arrivals to this country see Canada as an easy mark for creative entreprenureship….
color me not-surprised.
.
Unemployment up to 13% for youth?
It’s like 1980 all over again.
With all the real good parts yet to come.
I especially like the part where the the FM Chretin tells the PM Trudeau that they left the cupboard bare.( Of course, that little tidbit gets mentioned about as much as Adscam, Gomery and that crazy Auditor Sheila who actually audited).
One can only assume, they are in Russia with Snowden and the other dummies who believe the Absolute Crock that passes for reality in the Demented Dominion where you can do absolutely anything you want, as long as you get Mummy Govt’s permission first.(proper hierarchy of race, color, creed, sex, etc of course)
What a sad, broken, defeated country and people.
And EVERYONE of you shares responsibility for losing/nay destroying what was a great country. With nary a whimper.
There is no going back.
Lost forever. On your watch.
Your ancestors and your descendants expectorate at the mere mention of your name.
A Third World country full of shame and nothing else.
Stop falsely shaming the majestic moose and embrace the most real, most true, most accurate symbol of Canada and its meek, milksop multitudes, the Field Mouse!