Monday, August 9, 2010

Canada's Unemployment Situation at it's Worst Since the Recession Started

Despite claims that Harper has led out of the recession, the employment situation is worse than ever.

The performance of the labour market in July 2010 was catastrophic. The unemployment rate is back up to 8.0%. The number of full-time jobs in Canada decreased very rapidly in July, when 139,000 full-time jobs were eliminated. The number of permanent employees fell by even more, by 144,400.

Full-time job losses were offset by a shift to part-time work (+129,700). One worker out of 5 now works part-time, the highest proportion ever recorded since
data have been collected (1976).

Overall, a total of 9,300 jobs were eliminated in July, the first decrease in employment since the beginning of 2010. There are still more than 250,000 fewer full-time jobs today than at the beginning of this “Great Recession” in October 2008 (-266,200). The long term unemployment rate remains high. The percentage of Canadians who have been unemployed for more than 6 months was 22.5% in July, the highest level of long term unemployment observed since the jobs crisis started in October 2008. Before the crisis, the long term unemployment rate was around 12%

And yet we are giving away billions of dollars to an American firm for fighter jets and Stephen Harper is planning to send even more jobs south.

I'd like to say it's been nice knowing you Steve, but the truth is, it's been pure hell!

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