Stats-Canada said the economy lost 213,000 jobs in January as employment fell to its lowest level since August, wiping out the gains made in the fall. The unemployment rate rose to 9.4 per cent. Boy! weren't we taken in? The financial data firm Refinitiv said the average economist estimate was for a loss of 47,500 jobs in Jan. Another loss was their failure to explain the 165,500 other losses.
One prediction that we can take seriously is the one made by the Association of Small Businesses Canada, that if present trends continue and more small businesses close permanently, there will be another 180,000 jobs lost.
Sure we have a pandemic, but capitalism, by its very nature, is unable to deal with it – unable to deal with anything other than its own parasitic self-preservation.
S.P.C.
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