Probably means workers will have to take lower salary, since growth initiatives are lower (partly due to interest rates but also companies losing a lot of the optimism of post-pandemic growth projections).
What we urgently need is low-interest loans for small low-risk businesses to ensure the workers can find work. We don’t need to lend billions to large corporations or millions to SME that will employ 5 more workers.
Instead, giving out loans of 10k-100k with near zero interest rate to kickstart, preserve or grow low overhead businesses (hairdressers, plumbers, carpenters, home electricians, physiotherapists, private chefs).
So this is saying we’ve been growing the employable workforce faster than we’ve been creating jobs. Or is it saying that we’ve net lost jobs? It’s hard to tell from the way it was phrased.
It also seems to be implying that existing jobs were lost while new jobs were created for immigrants. It’s being very careful to imply that without directly saying it, which makes me question whether that’s actually going on.
The article says:
The country added 57.7k workers for a grand total of 21.72 million in March. Unfortunately the economy also lost 2.2k jobs over that same month.
I read it as
- +58k new workers
- -2k jobs
So we’ve net lost jobs, while we’ve grown the workforce. At least by my reading.
So a total of ~60k less job vacancies?
I’d phrase it as 60k people without jobs. But basically, yeah.
Yup, I read that backwards.
But, according to the government, “we have a labour shortage”.
we have a minimum wage labour shortage as no one in their right mind would bother showing up for it given the cost of everything
The latest data highlights how Canada has one of the most unusual economies in recent history. Typically population growth and an economic boom go hand-in-hand. People move to a region due to the robust opportunities, contributing to demand, and thus creating more jobs. That’s not what’s happening.
Instead, people are attracted to a stagnant economy in such a large volume, it has an inflationary impact on shelter. An impact that’s so great, shelter costs are eroding general output on a per capita basis.
I wonder if there’s a bureaucratic inertia at work: people came here to go to school 4+ years ago, or waited in a queue for however long it took to get in.
