Canadian politics thread

[bcrdukes]

Assume you do get this sweater for him. Is the expectation that he wears it to work, out in public, or both?

[68style]

Both, but wishful thinking it can’t compete with Kirkland

[bcrdukes]

I'm positive you can twist his arm into wearing it at a car meet of some kind.

[Badhobz]

make sure its at least 2XL and on on sale. i cant stand it if you paid full price for something.

[mikemhg]

Originally Posted by Badhobz

make sure its at least 2XL and on on sale. i cant stand it if you paid full price for something.

2XL?! God damn you are one big Chinaman.

[whitev70r]

Today's headlines, bit of a surprise, I guess it's what sector cuz everyone expecting massive job loss with Trump tariffs and uncertainty.

Canada adds 83000 jobs
Unemployment rate down to 6.9%

[westopher]

But Canada toilet I thought.

[Hondaracer]

Still in the bottom third of first world countries, yay

[68style]

Sorry for contributing (not contributing?) guys… it will be down to 6.8% when I get off my lazy ass.

[pastarocket]

Originally Posted by whitev70r

Today's headlines, bit of a surprise, I guess it's what sector cuz everyone expecting massive job loss with Trump tariffs and uncertainty.

Canada adds 83000 jobs
Unemployment rate down to 6.9%

CBC.ca article gives more info. about those 83,000 new jobs:

Canada added 83,000 jobs in June, sending unemployment down slightly
The Canadian economy added 83,000 jobs in the month of June, while unemployment fell slightly by 0.1 percentage points, according to Statistics Canada.

The vast majority of those jobs were part time, the agency said Friday, with 47,000 positions added in the private sector.

It's the first time employment has increased substantially since January of this year, when the economy added 76,000 new jobs.
The wholesale and retail trade industry, as well as health care and social assistance, saw the biggest influx of jobs

A majority of those 83,000 new jobs are not full time.

[whitev70r]

^ still an increase instead of a decrease.

Thing is, CBC did an 'About That' analysis and people are turning Trump off on his warning of tariffs. Initially, when he threatened tariffs, the markets had a dramatic reaction, now when he announced tariffs of 35% to Canada or else ... today was a pretty steady or plus for the markets. No one cares anymore about TACO Trump.

[Harvey Specter]

It’s worth looking beyond the headline because if most of those 83,000 jobs are part time or in low wage sectors, they’re not exactly signs of a strong economy.

And the unemployment rate dropping to 6.9% sounds good, but it could also mean people are giving up on looking for work. Honestly, the economy still feels pretty flat to me, high costs, stagnant wages, and underemployment aren’t reflected in the numbers.

[whitev70r]

yah, no one is saying this is an indicator or a strong economy for a minute. Microsoft laying off hundreds of full-time doesn't equal to 1000 part-time at Price Mart hires. Further analysis needed for sure but it was just a surprise. All things being equal and they collecting this particular stat in same way as always, isn't it better to have increase than decrease?

[noclue]

Originally Posted by whitev70r

yah, no one is saying this is an indicator or a strong economy for a minute. Microsoft laying off hundreds of full-time doesn't equal to 1000 part-time at Price Mart hires. Further analysis needed for sure but it was just a surprise. All things being equal and they collecting this particular stat in same way as always, isn't it better to have increase than decrease?

What happens to these part time summer jobs come fall?

[westopher]

Originally Posted by Harvey Specter

It’s worth looking beyond the headline because if most of those 83,000 jobs are part time or in low wage sectors, they’re not exactly signs of a strong economy.

And the unemployment rate dropping to 6.9% sounds good, but it could also mean people are giving up on looking for work. Honestly, the economy still feels pretty flat to me, high costs, stagnant wages, and underemployment aren’t reflected in the numbers.

A few things to unpack, good and bad here.
Unemployment isn’t based on people looking for work as far as I know. It’s people of employable age/ability working or not working.
Wages have outpaced inflation for multiple months on end last I’ve heard. I’d have to look for how long, but I think it’s been 6+ months.

No one with any sense is trying to say this is indicative of a strong economy. Honestly I’d have a hard time naming a country with a strong economy right now, unless we are talking countries that have climbed the ladder from pretty rough situations into the first world, like China, Mexico, etc.
Any strong economy right now probably has a significant “it’s all relative” factor to it.

[EvoFire]

Originally Posted by westopher

A few things to unpack, good and bad here.
Unemployment isn’t based on people looking for work as far as I know. It’s people of employable age/ability working or not working.
Wages have outpaced inflation for multiple months on end last I’ve heard. I’d have to look for how long, but I think it’s been 6+ months.

No one with any sense is trying to say this is indicative of a strong economy. Honestly I’d have a hard time naming a country with a strong economy right now, unless we are talking countries that have climbed the ladder from pretty rough situations into the first world, like China, Mexico, etc.
Any strong economy right now probably has a significant “it’s all relative” factor to it.

I had thought unemployment rate is only people who are looking for work. A stay at home housewife is not technically in a job, but they aren't looking at are not part of the statistic. Neither is a rich nepo baby who's in school and everything paid for.

[westopher]

I could totally be wrong, I just don’t know how they can quantify that. How do they know who’s sending out resumes and reading indeed etc

[whitev70r]

FYI, from Stats Canada:

Statistics Canada defines unemployed persons as those who were available for work during the survey reference week (when labour force statistics are collected), but: were without work and had looked for work in the past four weeks; were on temporary layoff due to business conditions and expected to return to work; were waiting for a new job to begin within four weeks.

[EvoFire]

They can collect stats relatively easily as anyone who's out of work would be applying for and collecting EI. Even for those who are out of work past the EI period, they can collect the stat that they aren't making new contributions to EI.

Of course that doesn't cover cash jobs, but those would have fallen out of statistics anyways.

[westopher]

Originally Posted by EvoFire

They can collect stats relatively easily as anyone who's out of work would be applying for and collecting EI. Even for those who are out of work past the EI period, they can collect the stat that they aren't making new contributions to EI.

Of course that doesn't cover cash jobs, but those would have fallen out of statistics anyways.

I’ve never applied for EI when I’ve been out of work. No one who has been fired can collect EI so that a very incomplete way of collecting that stat.

[EvoFire]

^ Fair point. But you'll stop contributing though

[westopher]

Yeah, good point, I understand it that way now that you put it like that, however on the other end of it, that also doesn't account for people trying to enter the workforce that haven't had jobs so it may underreport drastically. I guess it's kind of like a dyno though. If the measurement stays the same you just compare it to the baseline to see if its better or worse than previously.

[underscore]

I'm assuming a bit of working with historical data can let them calculate a fairly close estimate even if they don't have all the same info now. If you know that typically the people on EI have made up x% of the total number of unemployed people then it's pretty easy to grab your monthly EI numbers and figure it out.

Originally Posted by pastarocket

The Canadian economy added 83,000 jobs in the month of June, while unemployment fell slightly by 0.1 percentage points, according to Statistics Canada.

Finally I can say I'm part of the 0.1%

[mikemhg]

I really don't see a light out of the tunnel hear from an economic perspective.

Tech right now is being absolutely decimated. Too many C-Suite heads have put all their chips into the idea of AI, and those investments need to pay for themselves. This means more layoffs, more outsourcing to cheaper markets abroad.

We're not building widgets anymore, and even if we did, those jobs won't pay well.

Not everyone is going to work in energy/resource extraction fields, so that's a moot point as well.

I really wonder what the long-term plan will be here, where will the needed growth be found?

[Jason00S2000]

Originally Posted by westopher

No one who has been fired can collect EI so that a very incomplete way of collecting that stat.

Many, many businesses give the worker the option to be laid off instead of fired.