growth is good and the better part of that is they are full-time positions
Canada adds 87,800 jobs in May, jobless rate falls to 6.6%, beating estimates
Monthly gains, led by full-time employment, erase majority of job losses posted since the start of the yearwww.theglobeandmail.com
Technical recession, but the economy adds 87k jobs.
The economy doesnt know whats happening.
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So what... economy shrinks while jobless rate drops?
Or are the job numbers signalling a rebound?
I dont think anyone knows what the economy is doing.
ArmyRick
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From google AI, take with a grain of suspicion from our AI overlords, as well don't be quick to dismiss the word recession.
Yes, job numbers can increase during a recession, though it is rare for overall net employment to grow while the broader economy is contracting. A recession is defined by widespread economic decline, but labor markets are complex and can show growth through three main factors
Jobless Growth vs. Sector Pockets: Recessions hit some industries harder than others. While manufacturing or retail may shed jobs, "recession-proof" sectors like healthcare, public safety, law, and utilities frequently continue hiring because those services remain essential regardless of the economy.
Government Intervention: If a recession occurs, governments often increase public sector hiring or launch large-scale infrastructure projects to stimulate the economy and create jobs.
Population Growth: The workforce naturally grows as new job seekers enter the market. Even with a stagnant or shrinking economy, overall employment numbers may technically tick up if there is a massive surge in specific sector-driven roles or part-time work, creating a situation where both employment and unemployment can rise simultaneously.
Yes, job numbers can increase during a recession, though it is rare for overall net employment to grow while the broader economy is contracting. A recession is defined by widespread economic decline, but labor markets are complex and can show growth through three main factors
Jobless Growth vs. Sector Pockets: Recessions hit some industries harder than others. While manufacturing or retail may shed jobs, "recession-proof" sectors like healthcare, public safety, law, and utilities frequently continue hiring because those services remain essential regardless of the economy.
Government Intervention: If a recession occurs, governments often increase public sector hiring or launch large-scale infrastructure projects to stimulate the economy and create jobs.
Population Growth: The workforce naturally grows as new job seekers enter the market. Even with a stagnant or shrinking economy, overall employment numbers may technically tick up if there is a massive surge in specific sector-driven roles or part-time work, creating a situation where both employment and unemployment can rise simultaneously.
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Definitely no economist...but a 17,000 increase in hospitality jobs which I frankly view as more entry level McJobs and a drop in the youth unemployment rate have to be both good things. Construction is up but not sure if that seasonal work. No mention of government jobs skewing numbers either way which is a positive.
One month is not a trend but more people working is a good thing.
One month is not a trend but more people working is a good thing.
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I love arguing with AI.
The broader economy is largely stagnant, the decline was so miniscule that half a percent one way or another and canada isn't in a recession. I read that we imported more gold than usual during that quarter which in and of itself might have moved the numbers enough that pushed canada into recession numbers. (Imports count against gdp)
This is to push back against the notion that the broader economy is contracting.
If you read the article, it was stuff like construction, information, culture, recreation jobs, transportation and warehousing along with food services.
The technical recession just happened, no time between then and now for the government to stimulate the economy to add 87,800 jobs.
The population is shrinking. And most of the gains were in full time work.
And the unemployment rate dropped from 6.9 to 6.6 percent.
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Most of the gains were in non government sectors.
MilEME09
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Over 50k was private sector so thats a sign the economy is rebounding with private sector confidence
you are definitely a glass is half empty kind of guy. 87000 in any category is 87000 fewer people needing to visit the food banks for everything and helping to pay the rent. They may be entry level jobs but $17. or so per hour is better than sitting at home and watching the soaps or worse yet, standing on a corner with your Timmy's cup.
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I am happy about the numbers, while being confused about the state of the economy as a whole.
MilEME09
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people still watch soaps?
daftandbarmy
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ArmyRick
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The new PBO is not delivering cheery news
www.theglobeandmail.com
PBO projects larger federal deficits than forecast in government’s spring update
Watchdog attributes difference to its assumptions that personal income tax revenues will be lower than Ottawa expected
www.theglobeandmail.com
ArmyRick
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Professor Eric Kam (in the above video) some key points
-There is no technical recession, there is recession or not
-The time to recognize our economy was in trouble was yesterday
-The Liberals are constantly trying to point to other things to distract from real issues, they are running out of "other things"
-Donald Trump is not to blame for the state of our economy
-There is no technical recession, there is recession or not
-The time to recognize our economy was in trouble was yesterday
-The Liberals are constantly trying to point to other things to distract from real issues, they are running out of "other things"
-Donald Trump is not to blame for the state of our economy
I have no idea why people were ever expecting anything to change - and I know we were both saying the same thing during the election
It's the same government.
Same MP's. Same cabinet ministers. Same policies. Same useless pugs in terms of checks & balances.
Carney was Trudeau's economic advisor. Why people thought the economy would be better with Carney as PM has never made sense to me. (Again, we both said the same thing at the time)
Correction - Carney DID sign some non-legally binding MOU's that Trudeau hadn't signed...
(And because they aren't legally binding, they shockingly haven't been honoured "yet"...)
But he signed them! And Trudeau hadn't! So I mean, just look at all this change! It's wonderful
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so if we didn't import more gold than usual and thus didn't fall into recession , it's all good?
Nonsense.
ArmyRick
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Go head to head with Prof Eric Kam in a public debate on economics in our nation,. I fucking dare you to do it. No? He would chew you up and spit you out. And you know it.
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Invite him here?
What nonsense is this? You post a video and thus that's the end all of it?
Be better.
ArmyRick
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I am not the one challenging him. You are. Go for it. I'll gladly reach out to him and see if he is up for it.
You willing if he is?
You usually have a quick reaction to post here (aka knee jerk reaction), so?
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If you want to invite him here, be my guest.
I would love to ask him if we imported less gold than we did it would mean we are not in recession.
That all said, if you think that simply posting a video means it's above reproach you're sadly mistaken. Anyone can post a video.
Seriously, be better.
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