When the head of the Bank of Canada openly admits that higher levels of joblessness are not only on the way, but absolutely necessary, you can be sure that unemployment will be much worse than they expect.
Hopefully, it won’t be you or a family member who gets “rebalanced”.
The governor said the country’s current low unemployment rate is not sustainable and is contributing to decades-high inflation.
He said the Canadian labour market needs to be rebalanced to stabilize inflation.
I can’t believe hair lisp is going to roll the dice on this and wait until 2025. There’s ZERO chance things will be better by then given his policies.
Won’t be anyone in my family who is rebalanced. I’m one of 5 siblings. One is working part time. Rest out of work, doing our best to survive as retirees.
Fortunately 3 of us have our houses and cars paid for.
Does this mean government workers will be chopped. Nope that is just a dream.
Last time they had to cut the civil service was after the Mulroney years. It was Paul Martian and da liddle thief who did the deed.
This time? Who knows but the smart money isn’t on the Bong.
Exactly, snivel servants get to continue sleeping at their terminals. And, receive their full salary while complaining about ghost honking.
Smokescreen. Joblessness is good for the country. Next we’ll learn that it’s good for the climate, too. You’ll see the Liberals care for Canadians, unlike those cold-hearted Conservatives and the (now unemployed) Maga-loving deplorables who have kept inflation high.
Sadly, a lot of people will buy this bullshit.
Too late. Two brothers losing manufacturing jobs in January.
Half a million immigrants ought to help though…
1/2 a mill plus any illegal refugees that can slip through at Roxham and other crossings.
Could be well over 600,000 + per year all on da dole.
Add in any elderly family members and it could easily top a cool million/year.
Eat that Canadian Taxpayer.
Sorry to hear that Phil. Hope your bros are in reasonable financial shape. Back in the day, lost track of how many layoff bullets spouse dodged during career in the oilpatch; we were fortunate in the last “offer” came along when spouse was ready to retire.
As long as those losing their jobs are government “workers” (especially those in Ottawa) I have no problems with higher unemployment.
Hahahaha ha ha … the government employees will all get raises, bonuses, and free trips to The Bahamas. Because of the “stress” caused by the “Christian Truckers”
As Philanthropist points out, that demolishes the argument for 500,000 new immigrants next year.
Don’t worry everyone. Government workers will be eliminated.
On a separate note, mortuary services are going to be where it’s at…..
The only rebalancing needed is in Ottawa
The message from the government seems to be, quit working, you’re making us look bad.
This guy will read whatever is put in front of him.
Plus you’re going to need to have lots of desperation so feds can pass S-233
Tiff will ensure it happens.
It is my learned opinion that the first person who should be “rebalanced” is the governor of the bank of canada, who is at least partially responsible for getting us into this mess
If he just told the truth that he can’t fix a supply chain disruptions by hiking rates and increasing cost of production. He needs to grow a set and tell Skippy he needs to promote energy and food production, Tiff is getting canned, it’s just a matter of who will be doing it. Typical arrogant bureaucrat, “it’s not me, it’s you”
Inflation (definition): An abnormal increase in the supply of currency and credit. There is one and only one cause, and that is the Bank of Canada, aided and abetted by the Government of Canada. Ditto every other central bank in the world.
The economy must be destroyed by high interest rates to save it from inflation created by governments magically pulling money from the air and demanding low interet rates. Hmmm, who controls who here, and when does this cycle end?
The Liberal solution, stop spending all the money we printed, its for the rich only, not the middle class soon to be the homeless class.
Trudeau and Freeland’s addiction to spending money is going to get more people killed then Covid. Drug overdoses, no money for healthcare, people dying on the street BUT if try to talk about it, the Left calls you a negative Nancy, just be happy stick your head in sand, don’t believe Pierre P. he is a nasty man.
Tiff the Twit has the same reasoning power at Freeland who wisely suggested householders cut out a streaming service to save $13/month like she did to make ends meet. These two financial wizards will save us for sure.
It’s for your own good. Now back to another fawning piece of absolute bullshit about Castreau.
Funemployemnt is back, yo!
Jobs…?? Who needs jobs? I cut my Disney + subscription…so now I am living life of the wealthy!
Strangely… Feels a lot like my life before…
Bucky deserves the shield.
I just had to say it.
Balance the budget and quit printing money. That would take away the cause. Then the cure might be less severe and more palatable. Justin’s foster father Pierre was goosing the economy while using voodoo to control inflation. Those 2 Trudeaus are just about the 2 stupidest assholes to ever lead the country.
Yet Canadians still voted for them.
Who is more stupid?
Smoke.
We were in a recession with high levels of inflation in January.
The only employment is in the public sector.
People have stopped looking for jobs.
Carbon taxes and other taxes have made life expensive.
The government misspends money.
This is so elementary, a child could see it.
So, it’s no wonder that Canadians don’t.
I would add people have stopped looking for ‘taxable’ jobs. Many I know have gone completely off radar, cash, barter, and providing exceptionally highly skilled work in many fields. Trudeau is doing more for the black market than he could ever imagine…..or maybe that is why they figure a digital currency will solve tax/rationing problems. If they can track it, they can tax it except I predict that will make the black market even more robust. Once you go black, you never go back.
Methinks that’s what the new immigrants will do. It is their ‘culture’ after all. Only stupid WASPs would do an honest day’s work and pay their taxes.
I still don’t understand why the government doesn’t just stop spending money rather than raise interest rates. And what scar said.
They are cranking up interest rates at a record rate. It’s like using a sledge hammer on the economy smashing to pieces the weakest cogs, i.e., WORKERS who had to finance that used vehicle to get to work. Meanwhile price inflation is being driven by forces having NOTHING to do with spending by average Joe & Mary workers. What is the incentive for people to show up at a job anymore?
Argentina coming to a place near you- a destroyed economy with out of control price inflation.
The higher levels of joblessness should be among those MPs who supported shutting down the economy for two years and blowing money around.
I see he’s a good little gov’t mouthpiece, ignoring all the bad policy actions since 2015, and especially in the last 3 years. The unemployment data is an indicator, not a lever that will shift things. Printing money and raising taxes with wild abandon tends to have this effect.
No oddments for the weekend? I miss those.