- The world recession continues to bite. Japan’s economy contracted at its fastest pace in 35 years when it shrank 3.3% in the last quarter. In China, an estimated 20 million migrant workers who had gravitated to the cities for industrial jobs are returning to their rural areas, their dreams of more wealth shattered. Welcome to capitalism!
- Canada continues to bleed jobs. A Toronto Star report (21/Feb/09) showed a loss of 322 000 manufacturing jobs between 2004 and 2008 and a loss of a staggering 129 000 total jobs in January, the largest decline in 30 years. There are now 1 310 100 officially unemployed in Canada, although we know that this is a highly manipulated number and is really much higher.
John Ayers
The Glasgow & Edinburgh Branches Blog. Towards a better understanding of the world, in order to change it.
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