Skip to main content

Job creation in Canada: East Vs. West

If you are male between 15 and 24 and live in Montreal you are screwed!  Unemployment in the gender/population  segment is the worse in Canada -- on the other hand if you are a female, unemployment is not a problem!  In fact, in the 24/65 age bracket women in Canada are near full employment -- they are mostly service industry jobs, so probably not the best paying position, but at least women are working near or at full employment level.

The second trend is that a huge line divides between Ontario and Manitoba between job growth and job losses -- Ontario and Quebec, Canada's central manufacturing hub are suffering whereas Canada's resources based economy (yes oil and Gas but also mining) are doing great, and there is a deeper change too,, in that Western Canada's labor force is younger -- as Canadians are attracted to the job market there, so not only are there fewer jobs in Eastern Canada the demographic implications are severe.

Canada:  Employment Level



















Canada's labour force survey (came out on the 3rd) shows that aside for a spike in mid June, Canada's labor market has come off a little, from around 17.4MM jobs in the summer, the number of jobs has decreased by about 75,000 jobs (which is a lot -- its like if the US had lost 750,000 jobs).  In Canada, the labor force survey is preferred because it shows the number of jobs and the number is not askew because of statistical analysis (discouraged workers who've stopped looking for work).  Anyway, Eastern Canada is seeing job losses while Western Canada is seeing job growth (-0.3%) Vs (+4.3%).  Of course, Western provinces are much smaller than Eastern Canada -- 70% of all Canadians live in Ontario and Quebec.

I've been bitching about the main stream media's sudden discovery that Canada's housing market was reaching bubble territory -- more worrying is this week's article in The Economist, about the Canadian housing market, which according the that publication has the highest house price to income average ratio in the "English speaking world" (Hey what about us in French speaking Quebec?).

Overall, the news in Canada is not good, economic performance has been deteriorating and yet the CAD/USD exchange rate is still near parity.






Comments

Post a Comment

Popular posts from this blog

Ok so I lied...a little (revised)

When we began looking at farming in 2013/14 as something we both wanted to do as a "second career" we invested time and money to understand what sector of farming was profitable.  A few things emerged, First, high-quality, source-proven, organic farm products consistently have much higher profit margins.  Secondly, transformation accounted for nearly 80% of total profits, and production and distribution accounted for 20% of profits: Farmers and retailers have low profit margins and the middle bits make all the money. A profitable farm operation needs to be involved in the transformation of its produce.  The low-hanging fruits: cheese and butter.  Milk, generates a profit margin of 5% to 8%, depending on milk quality.  Transformed into cheese and butter, and the profit margin rises to 40% (Taking into account all costs).  Second:  20% of a steer carcass is ground beef quality.  The price is low, because (a) a high percentage of the carcass, and (b)...
Post a Comment
Read more

Spray painting Taylor Swift G650 aircraft (updated)

 First, a bit of paint will not harm anyone.  These climate activities are going to learn two things in the next few days:  (1) Trespassing at an airport is a felony almost anywhere in the world.  That means criminal prosecution.   (2) removing paint from an aircraft is expensive.   So these climate activists are about to find out the reach of the British criminal system and it will not be pleasant, the UK has very strict laws about that, I would be surprised if cleaning the aircraft of all the paint will cost less than $100,000.     I am sure that when they planned (premeditation) this little show they had a very valid logic to doing this.  Tonight, they are probably realizing the depth of their troubles.   I understand that in the UK it's a minimum one-year jail sentence.    Also, good luck travelling with a criminal trespass charge against you.  I am relatively certain that the airline industry will ...
Post a Comment
Read more

Janet Yellen from China supporter to Hawk...

There is rarely serious news in the world these days, it seems that most newspapers are filled with headlines and little else, and then Ms Yellen went to China.  Secretary Yellen has long been known in the Biden administration as the voice of moderation when dealing with China, yet as her trip which concluded yesterday a hawk was born:  She warned the Chinese against dumping goods in the United States.    fighting words! The American administration is very concerned about the lack of Chinese domestic consumption.   Even before the COVID-19 epidemic, there were already the beginning signs of a slowdown, automobile sales were off.   China is facing domestic deflation (a clear sign of collapsing demand) China imports few consumer goods, they import raw materials and intermediary goods.   It seems that the American administration is concerned that the Chinese administration will dump consumer goods abroad to keep its manufacturing machinery ...
Post a Comment
Read more