economy booming under CPC governance

[tobyshitzu]

Canada's economy created an impressive 95,000 new jobs in May -- the biggest monthly gain in nearly 11 years -- blowing away the expectations of most analysts.

Economists had expected anywhere from 10,000 to 15,000 new jobs last month. Instead, the economy created several times more, sending the unemployment rate down one-tenth of a point to 7.1 per cent.

CTV’s chief financial commentator Pattie Lovett-Reid says the figures are surprisingly good.

“These numbers are incredibly strong for Canada,”

Read more: http://www.ctvnews.ca/business/jobs-beat-odds-canada-s-numbers-make-biggest-gains-in-over-a-decade-1...

[pierrelebel]

"economy booming" ??

Give your head a shake!

Check the facts. Check the big picture.

Canada GDP Growth Rate The Gross Domestic Product (GDP) in Canada expanded 0.60 percent in the first quarter of 2013 over the previous quarter. GDP Growth Rate in Canada is reported by the Statistics Canada.

Historically, from 1961 until 2013, Canada GDP Growth Rate averaged 0.82 Percent reaching an all time high of 3.33 Percent in December of 1963 and a record low of -1.80 Percent in March of 2009.

Canada's economy is diversified and highly developed. The foundation of Canadian economy is foreign trade and the United States is by far the nation's largest trade partner. Foreign trade is responsible for about 45 percent of the nation's gross domestic product (GDP). Canada is one of the few developed nations that is a net exporter of energy. This page includes a chart with historical data for Canada GDP Growth Rate.

http://www.tradingeconomics.com/canada/gdp-growth 

Basically, the rate of growth (0.60%) in the first quarter of 2013 is well below the average rate of growth of the last fifty-two years (0.82%).  You call that "booming"!  I call that "spinning".

As far as the so-callled job creation figures released today, does anyone in Canada really believe them (other than conservative supporters)?  I see them as a nice manipulation by the Harper government in an attempt to take the heat away from all the other scandals.

One should read the full information supplied by Statistics Canada, not just the headlines.  From todays release:

"All of the employment gains in May were among private sector employees, offsetting losses over the previous two months for this group."

http://www.statcan.gc.ca/daily-quotidien/130607/dq130607a-eng.htm?HPA 

Next month, you can expect the government to "revise" these numbers downwards ("ooops, we made a mistake and overestimated the numbers").

Same old... same old.

[pierrelebel]

One of the most important statistics has always been the number of hours worked by employed Canadians.

In May, that number actually went down from 591,705,200 to 590.623,100 or a decrease of 0.2%

http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/labr68a-eng.htm 

That is NOT a "booming" economy when the total numbers of hours worked by employed Canadians goes DOWN.

Looking at the bigger picture, year over year, over the last twelve months, while employment grew by 1.4% (more or less matching population growth), the total number of hours worked only grew by 1.1% - meaning the average employed Canadian gets paid for fewer hours this year than last.

"Booming economy"?

[prior-of-verity*shake-hands-with-your-devil]

Thanks Pierre...........you saved me a lot of typing.

[stevephinn2012]

 meaning the average employed Canadian gets paid for fewer hours this year than last

Statistics Canada has just released their report on payroll and earnings for December 2012. It turns out that year over year, the average Canadian salary was up by 2.8% to roughly $47,200 or just over $900 a week. When this report came out last year, we were bringing home $883 a week, or $46,000 a year.

WOOOHOOOOO---Working LESS and Making MORE!!! Gotta LOVE it!!!

[pierrelebel]

Why waste our time comparing apples to oranges?

[tobyshitzu]

"

One of the most important statistics has always been the number of hours worked by employed Canadians.

In May, that number actually went down from 591,705,200 to 590.623,100 or a decrease of 0.2%"

Go figure, hours work drop in a month with a holiday business day from one without

From the lefts favorite paper

"Canada adds whopping 95,000 jobs, more than half in Ontario

The Canadian economy delivered a “jaw-dropping” 95,000 new jobs in May, Statistics Canada reported Friday.

Almost all of the jobs were in the highly desirable full-time category, more than half were in Ontario, and even summer students got a break, according to the federal agency’s data.

The spectacular gain pushed Canada’s jobless rate down by one-tenth of a point to 7.1 per cent, the agency also said. It would have gone further, but more Canadians also rejoined the labour force, a sign of rising optimism about job prospects.

“Canadian employment shot the lights out in May, with a furious increase of 95,000 net new jobs, close to the largest single monthly gain on record,” BMO chief economist Doug Porter wrote in a note to clients.

http://www.thestar.com/business/economy/2013/06/07/canadas_unemployment_rate_drops_to_71_per_cent.html

Its looking very good for Harper and the CPC!!  Thankfully it sounds like Flaherty's health is on the mend and we'll have many more years of top tier leadership

[pierrelebel]

Keep spinning. 

It will not convert anyone but the already converted and it appears that number is dropping like a stone:

http://www.cbc.ca/news/canada/edmonton/story/2013/06/05/edmonton-brent-rathgeber-resigns-conservativ... 

[rose-dee]

Statistics Canada has just released their report on payroll and earnings for December 2012. It turns out that year over year, the average Canadian salary was up by 2.8% to roughly $47,200 or just over $900 a week.

The problem with using averages is that the results are easily skewed if the data is top-heavy.  Canada often experiences regional booms that skew such figures and draw people away from their home provinces, meaning you're not getting a true picture of the country generally.  If you have 5 wealthy people in a neighbourhood with 100 others on minimum wage, the average will look very good.  Yet it doesn't tell you much about the general economic well-being of the majority in the neighbourhood.  Using a mean, rather than average, calculation, is often more realistic.   

This reminds me of the statistics on "average" home prices in Vancouver, B.C. several years ago, when the city had a huge influx of very wealthy people and luxury mega-homes began to pop up in some neighbourhoods.  Suddenly the real estate board was boasting "average" home prices of $750,000, while in fact the majority of homes were still in the $400,000 range. 

Right now, Alberta, Saskatchewan (and some areas of BC) are top-heavy with highly paid jobs and even higher corporate salaries.  Other regions have been virtually stripped of young working people who have gone to those places in search of work.  In many other regions, jobs are still scarce and not well paid. 

It doesn't mean the country as a whole is better off, nor does it mean that the majority of people in Canada are earning more.  There is just more money flowing to the top of the pyramid.  In any event, such figures don't take into account the effect of rapidly climbing prices on essentials, and the generally higher cost of living each year that erodes the "average" salary. 

[tobyshitzu]

".  In any event, such figures don't take into account the effect of rapidly climbing prices on essentials,"

What?  Canadas annaul inflation rate is a tiny .4%, the lowest in years, a fraction of the long term average

[pierrelebel]

http://www.tradingeconomics.com/canada/inflation-cpi 

[pierrelebel]

Booming?

http://www.tradingeconomics.com/canada/report 

Maybe the use of the words "blooming economy" is slighty overstating the reality!

[pierrelebel]

Toby, maybe to be honest you should have completed the message from Mr Porter:

"However, the volatility in Canada's employment reports puts a massive warning label on this release - even with the big move, the 3-month trend is actually a bit below average for job growth.

Before racing to conclusions that the economy is suddenly on a tear, note that the spectacular monthly gain simply offsets a prolonged period of softness in Canadian jobs to start the year."

Here is a link to the full text of the release by BMO:

http://newsroom.bmo.com/press-releases/canadian-employment-shoots-the-lights-out-bmo-econ-tsx-bmo-20... 

Is that "booming economy"?

[valve37]

Credit the Harper team. Fixing the economy bodes well for 2015.

[prior-of-verity*shake-hands-with-your-devil]

Does anything ever change in here?

No.

[ilurkthereforiam]

It could have been worse.

We could lost 90,000 jobs with the NDP or Liberals in charge.

[prior-of-verity*shake-hands-with-your-devil]

It could have been worse.

We could lost 90,000 jobs with the NDP or Liberals in charge.

And how do you know that?

[stevephinn2012]

Does anything ever change in here?

No.

Nope--you TROLL every item that mentions Mr. Harper or the Conservatives and bash anything that is said. Then your brother Pierre comes in and trys to spin it.

same thing every day!

[prior-of-verity*shake-hands-with-your-devil]

Awwwwwwwww

[pierrelebel]

Brothers?

Brothers?