Sunday, March 12, 2017

Do The Maths.

First the good news, the Canadian labour market added 10,700 jobs in November and the unemployment rate dropped from 7 per cent to 6.8., according to Stats-Canada. The bad news is the economy added 19,400 part time jobs, but shed 8,700 full time ones - do the math. So more and more workers have to exist on part time work, the equivalent of a pay cut. Nor is the 6.8 per cent figure accurate.

Many have used up their unemployment insurance and have given up searching for work. So don't expect things to get better under capitalism 'cos they won't. 

Steve and John

No comments: