Tuesday, August 06, 2019

Trouble In Paradise.

Those who regularly read these reports know that whenever Stats-Canada release their monthly figures on unemployment its usually grim. For June, however, it’s very good. On July 5 they said over the last 6 months 248,000 new jobs were added, most of them full time. This sounds a little weird if things were so bad in the first 5 months, but who am I to rain on their parade? The report also said wages climbed to their highest level in over a year, with Quebec being the highest at 5 per cent.

 The Bank of Canada monitors several wage growth indicators ahead of its rate decisions - my, my, what a surprise! But ole' Statsy ain't the only ones to say all is hunkry-dory. Brendon Bernard, an economist for jobsearch website Indeed Canada, said, ''When we take a look at the trend over the past year, job growth still looks to be chugging along at a pace that's even stronger than population growth.'' 

Now we all know that good times under capitalism don't last for long, nor can they in a market based economy. So it was no surprise to hear, on July 10 that Bombardier is laying off half of the 1,100 workers at its Thunder Bay plant and that, furthermore it may be more than that when their contracts with the union expire. 

So already there is trouble in Paradise.

 Yours for Socialism,
 SPC contributing members 

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