Canada's unemployment rate ticked up to 6.9% in April, matching pre-pandemic high
Canada's unemployment rate ticked up to 6.9 per cent in April, Statistics Canada said on Friday, matching the highest rate seen in eight years outside of the pandemic.
Hey, what do you know! There is no labour shortage it's just that BUSINESS OWNERS DO NOT WANT TO PAY EMPLOYEES. They want to go back to paying slave wages to migrant workers.
This is expected, considering we're in an unprovoked trade war.
But how we bounce back is what matters, and Canada has the opportunity to strengthen every aspect of our economy, industries, and European partnerships.
Trump is trying to crush Canada so he can take it over. Canada needs to turn to other countries for trade, and diversify its economy, not sell its soul to the US fascists.
And we are doing it.
https://www.bankofcanada.ca/wp-content/uploads/2019/01/swp2019-6.pdf
Heres a document from the BoC that outlines how QE causes wealth inequality in the short term, as asset prices rise. In the long term unemployment falls, and wages rise from greater wage pressure. So according to this study the created wage pressure reverses the wealth inequality caused by QE.
We did 4% population growth via mass immigration and allowed students to work 40 hours a week to forcefully decrease wage pressure, reversing the temporary labor shortage that existed before the Bank of Canada hiked rates, entrenching the short term asset inequality. Though as the Bank of Canada raised rates to cool the economy, and to bring down inflated asset values, we obviously now have a surplus of labor.
Anything that makes Canada more competitive is a win in my book.