The Truth about Canada's Surprising Job Data in April
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- Опубліковано 6 чер 2024
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Understanding Canada's Economy: Interest Rates, Job Data, and More!
Description:
In today's video, we dive deep into the current state of Canada's economy, particularly focusing on the recent actions of the Federal Government and the Bank of Canada. With inflation and interest rates impacting everyday lives significantly, it's crucial to understand what's happening behind the scenes. We discuss the aftermath of the pandemic, the dramatic increase in mortgage rates, and how these economic shifts are influencing consumer spending, business activity, and employment trends.
🔍 Key Points Covered:
1. Interest Rate Hikes and Inflation: How the Bank of Canada's decision to raise interest rates 10 times has affected the economy and what it means for mortgage holders.
2. Job Market Analysis: An in-depth look at the surprising April 2024 jobs report from Statistics Canada, highlighting the surge in part-time employment and its implications for the economy.
3. Economic Slowdown and Stimulus Needs: Exploring the need for a rate cut by the Bank of Canada to stimulate economic growth amid a slowdown driven by reduced consumer spending.
📊 What You'll Learn:
1. The three main factors the Bank of Canada considers before making rate cut decisions: inflation, GDP/productivity, and unemployment rates.
2. Insight into the real situation of employment in Canada, including the rise in part-time jobs versus the need for more full-time opportunities.
3. The impact of the growing workforce and how it compares to job creation rates.
👀 Observations from the Latest Report:
1. Over 50,000 of the newly added jobs are part-time, raising concerns about job security and economic contributions.
2. Despite job creation, the employment rate has dropped year-over-year, indicating that workforce growth is outpacing job opportunities.
3. Wage trends and expectations in the context of a changing economic environment.
💬 Join the Discussion:
What are your thoughts on Canada's economic strategies and their impact on everyday life? How do you think the Bank of Canada should proceed with interest rate cuts? Share your opinions in the comments below!
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When StatsCan makes up the employment statistics they should count part time jobs as half a full time equivalent job. By doing so, their numbers would actually mean something instead of just a method of obfuscation by the gov't.
The government is hiding in the statistics. NOT A NEW THING 😢
Why do rich international students need jobs while studying here?
You were supposed to have your finances in line before even applying for the school.
Great points!!!!!
well, we have been waiting for more 2 yrs, we won’t be hurt by waiting for more one month!
I just subscribed...I like the Canadian specific content
In the US part time work, govt work is separate from the jobs data. Statscan just lumps them into 1 number so it looks good for the govt to the minions
More than half the jobs are just social service deadweight. No contribution to the wealth of Canada. The public service need to get to their offices and do work again.
This, 13%~ is real estate, another chunk is education, followed by natural resources and maybe service jobs?
Canada has a lazy landlord problem that's turning the country into a serfdom.
Seasonal work for students, part time jobs for struggling and in debt workers. Sham numbers.
July seems about right
Ask the question, how many of these are minimum wage and foreign student jobs?
Your last point was a bar. Say it louder for the people in the back.
Stop bringing people in so simple who would have thought 😮
I always mentioned that Canada is very bad and stupid. Some of international students and work permit visas in Canada are working like 3 days part time job in one company and another 3 days work as part time in different company it means work 6 day a week.
We are adding more unemployed people @4.55 and employment rate is down from last year same month. Still Unemployment rate is unchanged. Interesting. I bet most of the full time job added are just on payroll for the work permit purposes. I have no faith in the number coming out from StatsCan. Most of the migrants are coming from the same country as the StatsCan head. Sorry to say Canada is being invaded by Indians. I see Indian immigrants loyalty to India is unwavering. I see Indian flags in their vehicles and place of their residences. Even having people from India tutoring their kids.
Hi FOMO Pumper 👋
Lmfao oh look a leveraged Chinese "entrepreneur" who's 90% invested in rental condos crying he can't leverage more for more "wealth" to have the "peasants" pay off...
Sucks to suck.
I have a solution - stop adding more people
And stop supporting wars 😒
@@danothatsme5157 stop voting for that guy trudeau
all the above !!!!!!
hahaha. "we need a rate cut cycle".....you're a funny debt zombie too!
And you’re going to nail the bottom because you know exactly how the future is gonna play out and you will become rich!!
It's the system we live in.