By using this site, you agree to our Privacy Policy and our Terms of Use. Close

Forums - Politics Discussion - The Canadian economy is doing terrible...

 

How are these numbers?

Beyond awful! I thought C... 8 33.33%
 
Awful, but no surprise at... 12 50.00%
 
Better than I expected! 4 16.67%
 
Total:24

http://www.cbc.ca/news/business/jobs-canada-july-1.3708611#

So this month, Canada LOST 31,200 jobs. And let me tell you, the number of FULL-time jobs fell by 71,400. Absuloute disaster! Now unemployement was 6.9%, which isn't bad until you realize labour participation fell significantly! Meanwhile, the US reported 255,000 NEW jobs this month! But it gets even worse! This month, we had a RECORD trade deficit of 3.6 billion dollars! Considering we're usually exporting more than we import, this is bad!http://www.cbc.ca/news/business/trade-loonie-1.3708854

But oh, the final nail in the coffin, the AWFUL GDP numbers. Now here, take a look: http://www.cbc.ca/news/business/gdp-may-fire-economy-1.3693968

Now I get it, a wild-fire affected oil production, but many were expecting worse case scenario numbers. Well, somehow we were able to do even worse! Our economy shrunk by 0.6%, the largest drop since 2009. And if you think that its just oil doing this, no! We also saw significant drops in our manufacturing, and the only reason the numbers weren't worse was because of real-estate, which is the ONLY thing proping up our economy at this point: http://www.huffingtonpost.ca/2016/08/02/real-estate-gdp-canada_n_11309192.html

 



Made a bet with LipeJJ and HylianYoshi that the XB1 will reach 30 million before Wii U reaches 15 million. Loser has to get avatar picked by winner for 6 months (or if I lose, either 6 months avatar control for both Lipe and Hylian, or my patrick avatar comes back forever).

Around the Network

Expected, the price of oil is way down, Canada relies heavily on the price of oil as their big export and money maker, it's why half of Canada went to work in Alberta the last decade.

The Canadian dollar moves almost 1:1 with the price of oil. There's nothing Canada can do to control the price of oil either. 

But people will twist this to the politcal agendas which are pre-existing as per always. 



Don't worry, Trudeau will sell more gold and all will be well



Soundwave said:
Expected, the price of oil is way down, Canada relies heavily on the price of oil as their big export and money maker, it's why half of Canada went to work in Alberta the last decade.

The Canadian dollar moves almost 1:1 with the price of oil.

Most of the effect should've came throughout 2015, not 2016. And BTW, we're also facing a shrinking in our manufacturing too. In fact, that a look at this: http://www.huffingtonpost.ca/2016/08/02/real-estate-gdp-canada_n_11309192.html



Made a bet with LipeJJ and HylianYoshi that the XB1 will reach 30 million before Wii U reaches 15 million. Loser has to get avatar picked by winner for 6 months (or if I lose, either 6 months avatar control for both Lipe and Hylian, or my patrick avatar comes back forever).

if you want,.. i know a guy who can help make canada great again.



Around the Network
barneystinson69 said:
Soundwave said:
Expected, the price of oil is way down, Canada relies heavily on the price of oil as their big export and money maker, it's why half of Canada went to work in Alberta the last decade.

The Canadian dollar moves almost 1:1 with the price of oil.

Most of the effect should've came throughout 2015, not 2016. And BTW, we're also facing a shrinking in our manufacturing too. In fact, that a look at this: http://www.huffingtonpost.ca/2016/08/02/real-estate-gdp-canada_n_11309192.html

The price of oil is still horrific in 2016, so how does that magically make things better if it was bad in 2015 too? 

Other sectors being affected in an economy that's being rocked with its main economic engine being down isn't terribly surprising. Alberta is the economic engine of Canada and it is getting killed by these oil prices.



Well, I know for sure that I have had a lot of trouble trying to get a job. But, the solution to this is not easy. I also do not understand your last paragraph. Since when has Trudeau promoted the creation of transgender bathrooms? I also think that the Liberal government is not close to ideal, but the Conservatives are worse in my opinion. How can you balance the budget while lowering taxes (which from what I remember they did not balance it)? By cutting social services such as education and health care, which would also have negative consequences (for example my mom, my grandmother and two of my aunts are nurses and my step-dad is a PSW, cutting health care would screw my family whose income rely on taxes).



Soundwave said:
barneystinson69 said:

Most of the effect should've came throughout 2015, not 2016. And BTW, we're also facing a shrinking in our manufacturing too. In fact, that a look at this: http://www.huffingtonpost.ca/2016/08/02/real-estate-gdp-canada_n_11309192.html

The price of oil is still horrific in 2016, so how does that magically make things better if it was bad in 2015 too? 

Other sectors being affected in an economy that's being rocked with its main economic engine being down isn't terribly surprising. Alberta is the economic engine of Canada and it is getting killed by these oil prices.

He doesn't understand the lagging effect of economic downtown and how economic reform happens. He most likely thinks it is the current government's felt for not having Alberta more diversified and nothing to do with Harper putting all the eggs in one oil basket. 



 

Soundwave said:
barneystinson69 said:

Most of the effect should've came throughout 2015, not 2016. And BTW, we're also facing a shrinking in our manufacturing too. In fact, that a look at this: http://www.huffingtonpost.ca/2016/08/02/real-estate-gdp-canada_n_11309192.html

The price of oil is still horrific in 2016, so how does that magically make things better if it was bad in 2015 too? 

Other sectors being affected in an economy that's being rocked with its main economic engine being down isn't terribly surprising. Alberta is the economic engine of Canada and it is getting killed by these oil prices.

Even so, the economy wasn't performing this bad throughout 2015. Q1 and Q2 was bad, but the second half actually improved. This year has been awful throughout. 



Made a bet with LipeJJ and HylianYoshi that the XB1 will reach 30 million before Wii U reaches 15 million. Loser has to get avatar picked by winner for 6 months (or if I lose, either 6 months avatar control for both Lipe and Hylian, or my patrick avatar comes back forever).

Acevil said:
Soundwave said:

The price of oil is still horrific in 2016, so how does that magically make things better if it was bad in 2015 too? 

Other sectors being affected in an economy that's being rocked with its main economic engine being down isn't terribly surprising. Alberta is the economic engine of Canada and it is getting killed by these oil prices.

He doesn't understand the lagging effect of economic downtown and how economic reform happens. He most likely thinks it is the current government's felt for not having Alberta more diversified and nothing to do with Harper putting all the eggs in one oil basket. 

What you aren't realizing is that oil isn't the only thing leaving in droves. Manufacturing is also falling, which produces roughly 10% of our GDP. You can't also explain how the loss of 71,000 jobs (the majority outside Alberta) with just the fall in oil. That excuse only gets you so far. And even without the fire in Fort Mac, GDP numbers still came in worse than expected. Most analysist's factor in low oil prices into Canada's growth rate, yet we still perform worse.



Made a bet with LipeJJ and HylianYoshi that the XB1 will reach 30 million before Wii U reaches 15 million. Loser has to get avatar picked by winner for 6 months (or if I lose, either 6 months avatar control for both Lipe and Hylian, or my patrick avatar comes back forever).