tag:blogger.com,1999:blog-7180592942896724433.post2765844246812434855..comments2023-12-13T05:02:37.426-05:00Comments on Pushed to the Left and Loving It: Andrew Coyne is Puzzled But the Answer is Quite SimpleEmily Deehttp://www.blogger.com/profile/08354341672810615468noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-7180592942896724433.post-14472856330952302232011-01-30T12:20:33.067-05:002011-01-30T12:20:33.067-05:00So we know they got the job loss number wrong but ...So we know they got the job loss number wrong but even if we did replace the job it was a high paying job being replaced by a low paying job. <br /><br />"In all, the recession saw the economy shed 428,000 jobs. To date, only 398,000 have been recovered, StatsCan said Friday." http://money.canoe.ca/money/business/canada/archives/2011/01/20110128-125041.html<br /><br />But if we lost 428,000 high paying jobs (auto sector)and replaced them with 398,000 (Tim's donuts part time)low paying jobs how much money was sucked out of the consumers hands? <br /><br />This is an over simplification (not counting loss of benefits and pensions and comparing to minimum wage):<br /><br />428,000 x $30 = $12,840,000 (old jobs)<br />398,000 x $10.25 = $4,079,500 (new jobs)<br /><br />We have lost a lot of money out of the job sector not counting the loss of benefits and pensions.backwarduckhttps://www.blogger.com/profile/04294163228078534016noreply@blogger.com