unemployment updates 2009
Is Canada’s economy crashing?
Canada lost 129,000 jobs in January: StatsCan
Last Updated: Friday, February 6, 2009 | 7:29 AM ET Comments324Recommend169CBC News
Canada’s job losses in January surpassed anything seen during the previous economic downturns in the 1980s and 1990s, Statistics Canada said Friday.
With the economy staggering in recession, Canada’s unemployment rate shot up by 0.6 percentage points in January to 7.2 per cent as 129,000 jobs were lost. Almost all of the job losses were in full-time work.
Since October, the battered Canadian economy has lost 213,000 jobs.
Between January 2008 and January 2009, overall employment across the country was down by 88,600 jobs.
http://www.cbc.ca/money/story/2009/02/06/januaryjobs.html
Canada is feeling the pinch, there are not very many countries that are not feeling the hard times facing us financially. There are a lot of companies laying off people, cutting back budgets, holding off on expansions until the hard time is past. Even employees who thought they were in a secure position are now finding even their jobs could be in jeopardy.
No one can kid themselves and say it is not impacting Canada, it is, our dollar is proof of that.
IS Canada’s economy going to crash? No it is not going to crash but it is going to take hard hit, and it will take time to recover from that. It will bounce back but no one can really predict when.
George Green 2009 Update
