Canada's unemployment rate climbs to 6.9% \ stacker news ~econ

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"Employment in the public sector increased by 23,000 in April"

Canada's big problem that no one is talking about. Employment has been propped up by public sector job creation while private sector hiring has stagnated for years now. We are on a dark path.

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105 sats \ 4 replies \ @Jer 10h

Over 26% of employed Canadians, and growing, are employed in the public sector, with an average salary of $108K CAD.

Objectively, this is absolute insanity but we are a Country that worships at the alter of big government.

71 sats \ 2 replies \ @stack_harder 10h

is there any talk on how sustainable this is? reminds me of el salv where most people are employed by the gov (without the juicy pay tho!)

20 sats \ 0 replies \ @Jer 9h

Not that I have seen. We love our government here in Canada but we love our unions even more ;-)

0 sats \ 0 replies \ @grayruby OP 10h

Long term it definitely is not sustainable but in the next 5-10 years it probably is.

21 sats \ 0 replies \ @grayruby OP 10h

We certainly are.

61 sats \ 3 replies \ @Undisciplined 12h

Alaska 4.9 Washington 4.4 Idaho 3.7 Montana 2.7 North Dakota 2.6 Minnesota 3.1 Michigan 5.5 Ohio 4.8 Pennsylvania 3.8 New York 4.2 Vermont 2.6 New Hampshire 3.1 Maine 3.5

What do those states have in common?

33 sats \ 2 replies \ @grayruby OP 12h

They don't have a genius Central Banker for a governor like we do.

40 sats \ 1 reply \ @Undisciplined 12h

Not only that, they don't even have their own central banks. Can you believe how backwards they are?

39 sats \ 0 replies \ @grayruby OP 12h

Ha those suckers have probably never even heard of MMT.

BTW did you know the border states or did you have to look them up?

41 sats \ 0 replies \ @kurszusz 6h

And this is just the beginning I think...

61 sats \ 9 replies \ @Coinsreporter 13h

Time to take the offer! ;)

Surprisingly India is at 7.9% which I believe is at least 1 to 2% higher because of a lot of people working in unorganised sectors and not showing they are employed.

17 sats \ 8 replies \ @grayruby OP 12h

Is that a typical rate for India?

20 sats \ 6 replies \ @holonite 9h

Tbh, the govt. hides the stats in the name of "low earning labour" instead of "unemployment"

20 sats \ 5 replies \ @Coinsreporter 9h

low earning labour

It's also employment. The wages in india are quite proportional to expenses. The condition is much better than most developing nations.

37 sats \ 4 replies \ @holonite 9h

It's also employment.

it isn't! It doesn't fit the definition of poverty as per WHO, people can't afford 2 square meals a day, they beg for it and are labelled as employed :(

20 sats \ 3 replies \ @Coinsreporter 9h

May I know where do you live in India?

I don't see anyone begging where I live.

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40 sats \ 0 replies \ @Coinsreporter 12h

Yes. But I believe it's not been more than 5% here. A lot of people deny employment like me as well. I'm still earning but I don't show and it's not that only educated people do it, almost every 2nd unemployed is employed here.

40 sats \ 1 reply \ @gmd 3h

Can’t believe a few months ago I thought you guys would turn things around with Pierre P

0 sats \ 0 replies \ @grayruby OP 3h

Maybe in four years. Haha

61 sats \ 1 reply \ @kr 12h

Toronto is basically at 10% now

https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1410035401

10 sats \ 0 replies \ @grayruby OP 12h

Yikes. Ottawa 7. Too many bureaucrats.

40 sats \ 2 replies \ @nichro 8h

Bad things happening to Canada are Trump's fault.

Good things are thanks to Carney.

21 sats \ 1 reply \ @grayruby OP 8h

That's definitely what the media is selling you.

20 sats \ 0 replies \ @nichro 8h

Good thing I ain't buying 👐

20 sats \ 0 replies \ @zapsammy 9h

i wud like to point out that the data is for "registered employment" if we cud be omniscient, i wonder what the data looks like for the unregistered work/compensation fiat game blows, nothing is new about that statement...

61 sats \ 0 replies \ @suraz 13h

High unemployment rates can severely impact society, often leading to a noticeable rise in crime. That's really bad.