It appears the collective minds of Canada’s economists have been blown away in light of the recent employment numbers.
As shown in the graphic, the unemployment situation worsened in Canada (and quite severely for Ontario, the now have-not province) for June 2014. The casualties this round were our young people seeking employment.
The economists in the article expressed surprise and shock at the numbers, since they were expecting a growth in employment. I’m not an economist, but I’m not surprised at all. Our economy is anaemic, and companies are in safe-mode by doing more with less: no hiring.
I said it before, and I’ll say it again. The unemployed make terrible consumers, and they won’t spend if they do not have a paycheque, which comes from being employed. I’m blogging right now using free Wi-Fi. Things certainly would be better (I’ll admit by a barely perceivable fraction) if I was paying my share due to stable employment, wouldn’t it?
The solution is idiotically stupid: help get the unemployed back to work through increased investment in and less restrictions on more job-creation programs and the rest will fall into place. Tax revenue will go up, services will improve, and business will thrive.
Guess that fact was lost on the economists. *Boom* indeed.
Thanks for reading!