Tuesday, June 09, 2020

Nobody Ever Said Life Under Capitalism Was A Happy-Go-Lucky Romp.

 The figures released by Stats-Canada for April ain't exactly cause for a celebration. More than one-third of Canadian workers were hard hit as the full force of the pandemic blasted the economy. Nearly two million jobs were lost and the unemployment rate jumped from 5.2 to 13 per cent. By April 12, the number of the Canadians who were unemployed or working much shorter hours totalled 5.5 million. The Toronto region was the hardest hit, with a loss of 593,000 jobs. The agency predicted if present trends continue the unemployment rate at the end of April will be 17.8 per cent. 

It’s chilling to think of what the economy will be like world-wide when the virus is over, which sounds like gloom and doom, but nobody ever said life under capitalism was a happy-go-lucky romp.

S.P.C. Members.

No comments: