Canada lost 70,000 jobs last month

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Canada lost 70,000 jobs last month

Dec 6, 2019 | 15:52 1 The liberal government must have used slight of hand tactics to keep those numbers from the voters in October. Socialism at it's best.

This government reminds me of a bunch of drunken sailors out on the ocean, trying to stay warm by burning the wood from the boat. Very selfish and short sighted, willing to take a large part of the population down with them. I'm extremely disappointed in one particular group of voters. Reply With Quote
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  • SASKFARMER's Avatar Dec 6, 2019 | 15:55 2 GTA and Montreal and maritime’s Reply With Quote
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  • Dec 6, 2019 | 16:00 3 A recession is already here. Job losses of that magnitude and a 1.3% GDP less than inflation

    Skippy is probably road kill here but lots of damage and pain to come before dumbasses in the rest of the country wake up

    Trump targeting us with more sanctions too. I hate to wish pain on the country but so be it. Reply With Quote
    Dec 6, 2019 | 22:02 4
    Quote Originally Posted by jazz View Post
    A recession is already here. Job losses of that magnitude and a 1.3% GDP less than inflation

    Skippy is probably road kill here but lots of damage and pain to come before dumbasses in the rest of the country wake up

    Trump targeting us with more sanctions too. I hate to wish pain on the country but so be it.
    Agree Jazz . . . Canada has already been in-recession for the past two (2) years Rose coloured glass comments from the Bank of Canada this week are frustrating and smell totally of politics. We are heading into a difficult economic state with chronic unemployment without a serious change in government attitude toward business in this country. Reply With Quote
    Dec 6, 2019 | 22:49 5
    Quote Originally Posted by errolanderson View Post
    Agree Jazz . . . Canada has already been in-recession for the past two (2) years Rose coloured glass comments from the Bank of Canada this week are frustrating and smell totally of politics. We are heading into a difficult economic state with chronic unemployment without a serious change in government attitude toward business in this country.


    You mean we shouldn't be running deficits if the economy is strong? WTF? Reply With Quote
    Dec 6, 2019 | 23:48 6 US Media having a good laugh at Trudeau today. Some declaring US won the trade war with more than 50,000 new manufacturing jobs returning.



    Reply With Quote
    blackpowder's Avatar Dec 7, 2019 | 00:37 7 Not sure who's got the stronger Kool aid.
    Trewdohh or Trump.
    I know which one tastes like bs though Reply With Quote
    SASKFARMER's Avatar Dec 7, 2019 | 07:23 8 I agree with Errol we either have to get people back to real work and real jobs or the January numbers are going to hit 100000. Saskatchewan companies are going to start layoffs in AG sector jobs come January. Watch.
    Salesmen, mechanics, parts men etc. Grain reps crop reps etc.

    Oil gas and mining will also add to that number. But the trades and suppliers are going to have to lose some people to keep afloat and that also will be January.

    Sunny ways and gay parades don't work for a healthy working country.

    Trudeau is a failure of epic proportions and will go down as the most useless PM in all of Canadian history.

    Chuck and grass any comment or are you realizing Trudeau is a Cancer that is killing Canada. Reply With Quote
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  • Dec 7, 2019 | 07:35 9 Name:  c-g02-eng.jpg
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    If you are going to blame politicians for all the ups and downs in the economy and job losses it looks like Harper was worse than Trudeau!

    Month to Month changes are volatile. Its the long term trends that are important. Reply With Quote
    Dec 7, 2019 | 08:13 10 One of the observations I have and maybe Errol can comment on this is the resource sector jobs come and go depending on commodity prices and supply and demand which are mostly a function of world markets.

    The down turn in the oil and gas sector is significant but don't we have to remember that the preceding boom ramped up the economy and jobs significantly. High prices attracted increased production and supply. And growth in China slowed down. Large booms usually are followed by a bust.

    Now oil companies are facing serious headwinds from lower prices. Pipeline constraints have added to the lower prices in some cases, but integrated oil companies in Alberta are still making good money.

    But some oil companies are laying off workers and curtailing investments only to improve their bottom line so so shareholders see some benefits. This has added to the job losses.

    Alberta grew tremendously based on a boom that didn't last. Its the classic tale of a boom and bust economy.

    Many partisan voters seem to have short memories as the sharp drop in oil prices occurred while Harper was in power.

    Trudeau is not well liked in Western Canada no matter what he does.

    But as I have pointed out before politicians don't control the entire economy or world prices for commodities. Reply With Quote
    Dec 7, 2019 | 08:14 11
    Quote Originally Posted by chuckChuck View Post
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    If you are going to blame politicians for all the ups and downs in the economy and job losses it looks like Harper was worse than Trudeau!

    Month to Month changes are volatile. Its the long term trends that are important.
    Chuck what would a chart for the U.S.A. look like over the same time frame? Reply With Quote
    Dec 7, 2019 | 08:18 12 Find one and post it.

    But remember the US economy is not as dependent on the oil industry as is Canada. They have a large internal economy. They have also pumped billions of dollars into their economy with QE and borrowing.

    Their debt to GDP ratio is higher than Canada's and increasing. Ours is lower and projected to fall.

    Errol noted a while ago that US oil companies are also struggling in the tight oil plays as profitability has declined as well. Its not all roses south of the border.
    Last edited by chuckChuck; Dec 7, 2019 at 08:23.
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    Dec 7, 2019 | 08:23 13
    Quote Originally Posted by chuckChuck View Post
    One of the observations I have and maybe Errol can comment on this is the resource sector jobs come and go depending on commodity prices and supply and demand which are mostly a function of world markets.

    The down turn in the oil and gas sector is significant but don't we have to remember that the preceding boom ramped up the economy and jobs significantly. High prices attracted increased production and supply. And growth in China slowed down. Large booms usually are followed by a bust.

    Now oil companies are facing serious headwinds from lower prices. Pipeline constraints have added to the lower prices in some cases, but integrated oil companies in Alberta are still making good money.

    But some oil companies are laying off workers and curtailing investments only to improve their bottom line so so shareholders see some benefits. This has added to the job losses.

    Alberta grew tremendously based on a boom that didn't last. Its the classic tale of a boom and bust economy.

    Many partisan voters seem to have short memories as the sharp drop in oil prices occurred while Harper was in power.

    Trudeau is not well liked in Western Canada no matter what he does.

    But as I have pointed out before politicians don't control the entire economy or world prices for commodities.
    Chuck there was 3 provinces that lost a lot of jobs in the latest report, B.C. lost 18000, Alberta lost 18000 and Quebec lost roughly 45000. Two of those three have very little to do with oil and gas jobs. A lot of what Quebec lost was manufacturing jobs. Right now in B.C. a lot of lumber mills are shutting down. I think business is going where it can make the greatest return. Taxes and regulation continue to cost business more and more in Canada. Reply With Quote

  • Dec 7, 2019 | 08:30 14
    Quote Originally Posted by Hamloc View Post
    Chuck there was 3 provinces that lost a lot of jobs in the latest report, B.C. lost 18000, Alberta lost 18000 and Quebec lost roughly 45000. Two of those three have very little to do with oil and gas jobs. A lot of what Quebec lost was manufacturing jobs. Right now in B.C. a lot of lumber mills are shutting down. I think business is going where it can make the greatest return. Taxes and regulation continue to cost business more and more in Canada.
    Well noted. That's why Trump is protectionist now. Many jobs lost to lower cost manufacturers in China and Mexico. Multinationals don't really care where they invest. Its a global economy. Canada still has many advantages. But the corporations are playing us off against lower wages, lower labour stanadards and environmental standards. How low do we want to go to attract investment? Reply With Quote
    Dec 7, 2019 | 08:50 15 Lets put this into real perspective. In 3 yrs, Trump has increased the US economy almost the size of Canadas entire economy that took 150 yrs to build.

    Absolutely astounding. He is going to asbsolutely destroy china now.

    54,000 manufacturing jobs that guys like chuck said were enver coming back, came back.

    There is chatter now that chinee companies may have to move operations to the US now to hang on to their customers. Just amazing what this man has accomplished. But its all lost on stunned socialists. Reply With Quote
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  • Dec 7, 2019 | 08:53 16 Just took a quick look Chuck, in Quebec the sales tax is 9.975%, add the GST the harmonized sales tax is 14.975%! Highest personal income tax over $104000 is 25.75%, combine that with the Feds top rate of 31% and you get 56.75% income tax on higher earners. So you ask how low can you go? Looks like lots of room to move in Quebec! Reply With Quote
    Dec 7, 2019 | 08:55 17 And instead of trying to impeach Trump or throw him out....if the same energy was used to help the economy.....just think where the US would be....

    I don't think there is a Democrat that will beat Trump if the numbers hold...

    People might not like Trump but if they are working ....they might give him another term.... Reply With Quote

  • Dec 7, 2019 | 09:02 18
    Quote Originally Posted by bucket View Post
    People might not like Trump but if they are working ....they might give him another term....
    And pathetic weasels like our own PM think its funny to take pot shots at him.

    In 2020, Trump will have the presidency, house, senate and courts on his side. He is absolutely going to rewrite his nation and the world. We should be in lock step with that country. Canada always benefits from US boom and now a boom of a generation is under way and skippy drives us into the ditch. Reply With Quote
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  • Dec 7, 2019 | 09:28 19
    Quote Originally Posted by SASKFARMER View Post
    I agree with Errol we either have to get people back to real work and real jobs or the January numbers are going to hit 100000. Saskatchewan companies are going to start layoffs in AG sector jobs come January. Watch.
    Salesmen, mechanics, parts men etc. Grain reps crop reps etc.

    Oil gas and mining will also add to that number. But the trades and suppliers are going to have to lose some people to keep afloat and that also will be January.

    Sunny ways and gay parades don't work for a healthy working country.

    Trudeau is a failure of epic proportions and will go down as the most useless PM in all of Canadian history.

    Chuck and grass any comment or are you realizing Trudeau is a Cancer that is killing Canada.
    Basf has already started
    Sure theyre not alone Reply With Quote
    Dec 7, 2019 | 09:31 20
    Quote Originally Posted by jazz View Post
    Lets put this into real perspective. In 3 yrs, Trump has increased the US economy almost the size of Canadas entire economy that took 150 yrs to build.

    Absolutely astounding. He is going to asbsolutely destroy china now.

    54,000 manufacturing jobs that guys like chuck said were enver coming back, came back.

    There is chatter now that chinee companies may have to move operations to the US now to hang on to their customers. Just amazing what this man has accomplished. But its all lost on stunned socialists.
    And all by himself
    While the dems spent all their time working against him
    And having to get rid of the swamp creatures in his own riding at the same time
    He sure has worked hard at it
    You might say he did this with his hands tied behind his back
    Last edited by caseih; Dec 7, 2019 at 09:47.
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    Dec 7, 2019 | 09:52 21
    Quote Originally Posted by Hamloc View Post
    Just took a quick look Chuck, in Quebec the sales tax is 9.975%, add the GST the harmonized sales tax is 14.975%! Highest personal income tax over $104000 is 25.75%, combine that with the Feds top rate of 31% and you get 56.75% income tax on higher earners. So you ask how low can you go? Looks like lots of room to move in Quebec!
    The Quebec business tax rate in is 11.6%. Alberta is currently at 12% and will be reduced to 8% over 4 years. If the Alberta economy and resource revenues don't rebound look for lots of cuts in Alberta to education and health care.

    https://www.cnbc.com/2017/08/07/canadians-may-pay-more-taxes-than-americans-but-theres-a-catch.html

    Canadians pay more — sometimes

    The OECD analyzes the tax burdens of 35 countries, including the United States and Canada. According to its data, in terms of total tax revenue as a percentage of GDP, in 2010, the U.S. collected a slightly lower than average amount of taxes from its citizens ($11,365 USD per capita). Canada collected a slightly higher than average amount ($14,693 USD).

    The average for OECD countries was $12,911 USD.

    That total tax revenue figure includes not merely federal income taxes, but all taxes, including “taxes on income and profits, social security contributions, taxes levied on goods and services, payroll taxes, taxes on the ownership and transfer of property, and other taxes.”

    OECD (2017), Tax revenue (indicator). doi: 10.1787/d98b8cf5-en (Accessed on 01 August 2017)

    At times, for example, in 2000 and again in 2014, Canada and the U.S. swapped places. The U.S. paid a slightly higher than average amount and Canada paid a slightly lower than average amount. For the most part, however, both countries hover around the OECD average.

    And both remain far lower than high-tax countries such as Luxembourg, Norway, Denmark Switzerland and Sweden.

    “Canada’s total tax revenue over all levels of government as a percentage of GDP is modest relative to our OECD peers,” reports the Broadbent Institute. “Of all 35 OECD countries, Canada ranks 25th in terms of total tax revenue to GDP.”

    What Canadians get for their taxes

    Canadians may not pay that much more than Americans — and, on occasion, as a nation, they have even paid less — but they do get a lot more from their government in terms of social services. That’s part of what makes Canada one of the Top 10 happiest countries on earth, ranking seven spots higher than America.

    As Vice Money puts it, “American marginal tax brackets aren’t too different from Canadians’, yet [Canadians] get universal health care and [Americans] don’t.” Currently, Americans pay $3.4 trillion a year for medical care and, unfortunately, don’t : “The U.S. life expectancy of 78.8 years ranks 27th. It has the fourth highest infant mortality rate in the OECD, the sixth highest maternal mortality rate and the ninth highest likelihood of dying at a younger age from a host of ailments, including cardiovascular disease and cancer,” reports Bloomberg.

    Per capita health-care spending in the U.S. is more than $9,000.

    By contrast, per capita health-care spending in Canada is half that, or $4,500. Yet life expectancy in Canada is 81.7, and the country ranks 13th, significantly ahead of the U.S. Reply With Quote
    Dec 7, 2019 | 10:02 22
    Quote Originally Posted by chuckChuck View Post
    Find one and post it.

    But remember the US economy is not as dependent on the oil industry as is Canada. They have a large internal economy. They have also pumped billions of dollars into their economy with QE and borrowing.

    Their debt to GDP ratio is higher than Canada's and increasing. Ours is lower and projected to fall.

    Errol noted a while ago that US oil companies are also struggling in the tight oil plays as profitability has declined as well. Its not all roses south of the border.
    Texas oil patch is now in a major downturn . . . . Texas rigs down 15% over past 10 months. About 10,000 jobs recently lost. Houston is Calgary’s sister city in the oil industry. In fact, Boon Pickens once worked in Calgary.

    Houston downtown office vacancy is now a staggering 26%. Calgary’s downtown is much larger than Houston’s with our vacancy still hovering near 30%, but the similarities are there.

    It’s quite hard to believe the rockstar 266,000 U.S. job creation in November reported yesterday, when manufacturing and oil is in a sharp slowdown stateside. These new jobs are likely low paying. But the stock market fed on it like parana’s yesterday . . . . Reply With Quote
    SASKFARMER's Avatar Dec 7, 2019 | 11:01 23 Yes chuck it’s fun to play with numbers but Harper was PM under the financial meltdowns down of 2008. Skippy had the gravy years after and what happened a carbon tax and every policy that makes it more expensive to do work in canada.

    You really aren’t very smart are you chuck Reply With Quote
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  • Dec 7, 2019 | 11:27 24
    Quote Originally Posted by SASKFARMER View Post
    Yes chuck it’s fun to play with numbers but Harper was PM under the financial meltdowns down of 2008. Skippy had the gravy years after and what happened a carbon tax and every policy that makes it more expensive to do work in canada.

    You really aren’t very smart are you chuck
    Well if you say so! LOL
    So if Harper isn’t responsible for the financial meltdown how is it Trudeau is responsible for the slowdown in the oil patch that as Errol pointed out is happening both in Canada and the US that started under Harper as world oil prices dropped significantly in 2014?

    Now I know a hyper partisan like you will not give an inch on blaming Trudeau for everything. But you can’t ignore all the facts! LOL Reply With Quote
    Dec 7, 2019 | 11:30 25
    Quote Originally Posted by errolanderson View Post
    It’s quite hard to believe the rockstar 266,000 U.S. job creation in November reported yesterday, when manufacturing and oil is in a sharp slowdown stateside. These new jobs are likely low paying. But the stock market fed on it like parana’s yesterday . . . .
    The jobs market report is much more accurate than Canadas. Increases in manufacturing while we lost those jobs is a big flashing warning.

    Statscan will often report seasonal jobs like summer students and mall santas to skew their numbers. And since the liberals got in they now include aspiring entrepreneurs who are thinking about starting a business because they cant find a regular job. A lot of our jobs are low quality, service sector, take out window types. Reply With Quote
    SASKFARMER's Avatar Dec 7, 2019 | 11:52 26 Chuck are you stoned. Harper responsible for the global financial meltdown.

    I knew you weren’t to bright but god that’s insane.

    But Trudeau has a country going backwards the USA is moving forwards with almost 300000 new jobs.

    Yea Trudeau is a genius.

    Bang head here! Reply With Quote
    Dec 7, 2019 | 12:00 27
    Quote Originally Posted by SASKFARMER View Post
    Chuck are you stoned. Harper responsible for the global financial meltdown.

    I knew you weren’t to bright but god that’s insane.

    But Trudeau has a country going backwards the USA is moving forwards with almost 300000 new jobs.

    Yea Trudeau is a genius.

    Bang head here!
    What?? Your comprehension skills must be lacking. Or too many margaritas today?

    In both cases I was arguing that neither Harper nor Trudeau are responsible for global economic fortunes or world commodity prices. Reply With Quote
    Dec 7, 2019 | 12:16 28 Look at TSX vs S&P or DJ. We can't attract the investment. We've missed out on 3 years + of hot money flowing in. That's before currency is taken into effect. TSX is a smoking deal except investor confidence is lacking, pick your reason. There's a natural inversion of currency to assets and if TSX is corrected for currency we have declining highs. Over 3+ years meaning this is more then a reaction. Setting trend. Reply With Quote
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  • Dec 7, 2019 | 12:18 29
    Quote Originally Posted by SASKFARMER View Post
    Yes chuck it’s fun to play with numbers but Harper was PM under the financial meltdowns down of 2008. Skippy had the gravy years after and what happened a carbon tax and every policy that makes it more expensive to do work in canada.

    You really aren’t very smart are you chuck
    Chuck, this site has been full of negative news and negativity lately , It's kind of depressing after a while. So thank you for injecting a dose of humor just morning, And liking the post where SF3 tells you you're not very smart. Your comedic timing and presentation is impeccable today.


    I have long suspected that you thought you had a sense of humor, Since you add LOL to the end of nearly every post. But I didn't get any of the jokes until now, please continue to show your lighter side, it is a pleasant change. Reply With Quote
    Dec 7, 2019 | 12:24 30 Canada is emulating the Obama years. High debt, no growth, stagnant stocks, endless regulations, stifling of industry, globalization, UN, CO2, platitudes, disrespect, no trade deals, hopeless change.

    Maybe there is a trump type on the other side of all this. Reply With Quote