Canada loses 2.8k jobs in July
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- čas přidán 9. 09. 2024
- Earl Davis, head of fixed income and money markets at BMO Global Asset Management, joins BNN Bloomberg to discuss the continued Canadian labour market weakness in July.
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Increasing the population while decreasing the jobs. Brilliant.
Immediate deportation of illegals should be first step. Some of them still here even after 15 yrs after court verdict 😮😮
Coming from the team that stated the budget will balance itself, what can you expect but the Opposite of what makes sense
The government detests you. Why are you surprised?
All the Trudeau voters fault!!
But PM still wants more temporary foreign worker because of ‘ Labor Shortage ‘ 👏 👏
🤣
Refugees are coming from Ukraine and putting more pressure on job market
In addition to two Winnipeg's worth of new citizens. Every. Single. Year.
The numbers are way worse than this because Canada is losing private sector jobs and creating more public sector jobs
Bureaucracy flourish
Fantastic video! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong??
Same here, My portfolio has been going down the drain while I try trading,l just don't know what I do wrong. .
Trading on a demo account can definitely feel similar to the real market, but there are some differences. It's important to remember that trading involves risks and it's normal to face looses sometimes. One piece of advice is to start small and gradually increase your investments as you gain more experience and confidence. It might also be helpful to seek guidance from experienced traders or do some research on different trading strategies
I think l'm blessed if not I wouldn't have met someone who is as spectacular as expert mrs Janet..
Highly recommended🙌
Wow, I'm surprised to see Janet mentioned here as well. I didn't know she had been kind to so many people
I'm also a huge beneficiary of her..
I thought myself and my family were
the only ones enjoying Janet
trade benefits
Loss of 2500 jobs but approximately 34000 immigrants were "welcomed in" not to mention most of Canadian job growth has been in the public sector. So also tax funded jobs no actual productivity.
This guy gets it
Too many truths!!
It’s actually 43k private sector jobs lost and 42 government jobs created..
You beat me to this comment. Lol. "Better than it looks" apparently. Talk about picking and choosing numbers to support their narrative. Probably been instructed to try and make it sound rosy while the ship sinks like the violin players in the Titanic movie.
A scary thought, as Canada topped out its post Covid recovery and we were battling inflation, much of the new jobs created towards the end were government jobs which are not real jobs being added and are parasitical by nature, I bet none of those jobs lost this month were public sector, scary
Bank of Canada is praying for the US Fed to implement a 50 basis cut to keep its housing market from tanking when thousands of mortgages are up for renewal.
Too late Depression is coming
Explain how we can have a depression well at the same time we have social programs that were created after the depression so we could not have another Depression
@@StephenRoss-po1rp Inflation and money printing
@@StephenRoss-po1rp What happens when there is no money for the social programs? Print more money?
Which will cause more inflation, which will raise interest rates, which will slow the business that gets taxed to pay for social programs.
Business will lay off more people and the government will tax them more to pay for social programs.
Soon the workers are homeless and there is no one to tax to pay for the social programs.
“Unexpectedly” bro anyone with a real brain knows Canadas in a recession and it’s about to get way worse
My company has let go people and they never let people go
BNN is absolute trash
Exactly = Depression
Most canadians can't afford to buy anything. Business in my area have closed their doors.
No industries, no lucrative jobs, etc. On top of that, the country has a high cost of living and high taxation. The country also encourages people to do hard drugs like fentanyl. What a nightmare.
Where are these Canadians? I still see busy restaurants, busy shopping malls, etc. it may be on credit but I still I do not see which businesses are closed.
Thanks Trudeau/liberal voters
We need a career politician who has never had a real job to lead this country! A man of the people who has spent his whole career defending the same corporations price gouging us. PP for PM yippee!!!!!
@@fpp2024 cutting bureaucratic red tape, balancing budgets, stopping needless immigration, prosecuting criminals; if you object to these things you're a fool. Do your civic duty and DO NOT vote ever again! otherwise your just a useful idiot
@@fpp2024 as opposed to?
@@fpp2024 Balancing the budget, eliminating bureaucratic red tape, prosecuting criminals, halting needless immigration, cutting oppressive taxes; if you object to these things - Please serve your country by staying out of politics and never vote.
What you say is correct
Any career politician should never be trusted on anything
However, we need the Libs out so lesser of two evils
Yas gawd! 0.50 rate cut in septembre!!!
No! Hold the line... take your medicine!
Get a job.
@@TookAHikeNowWhat my job has no benefits!!
I can’t find a job, it’s no surprise
Ya my manager says he’s getting 10x more job applications then 2 years ago
Canada is bad for jobs, try to start your own business or gig that's the only hope or leave Canada
@@davidrockefeller2007 yup, not a fun time being unemployed.
This is the same guy, who only a few months ago said that Canadian and US interest rates did not need to stay near the same level.
Now, he says Canada will lower more if the US does.
None of these economists can be trusted, they are telling you a story in order to make personal gains.
The same mentallity as Realtors
agreed this guy is a complete fool or a liar
paid shill
Ninety-eight percent of realtors give the remaining two percent a poor reputation.
While the population increased by 120k, they didn't even talk about that, making the job loss way worst then the headline numbers.
Canadians are starting to get it. Finally.
Can $ going to 60c
Ur tanga
Looks like the recession started June.
Last year you mean
The Recession started two years ago, we are heading into a Depression. When people don't have money for food and shelter it's a Depression.
We lost another 2.8K jobs on the month of July but we are welcoming 500,000 immigrants and 485,000 student visa arrival for year 2024.
So 1 million arrival on Canada on 2024 to match 2023 arrival. Meanwhile housing growth=zero
Job growth=negative
Inflation-Up
Health care- long queue
Public Transportation growth=zero
So Social, Health, Transport, Food infrastructure are stagnant and yet we are adding annual 1 million arrivals in Canada if you use your common sense what it is expected outcome? Housing Crisis! Health Care Crisis! Transportation Crisis! Child Day Care Crisis! Employment Crisis! Then what will be the final outcome if use your common sense? Diversity War???? See people instead of blaming the government will release their frustration on their fellow humanity! Who's fault is it? Big Greedy Businesses and Government!
Immigrants need to practice birth control. Easy to take off clothes and have a good time in the bed for 10 mins.
Oh ya the point about population growth yet there are less jobs. The rest are good as well.
Exactly
We need immigrants to boost GDP numbers
@@SW-li7gd really? Did you look at GDP per capita since 2014 till now? Our quality of life is going down the drain. Canada is now a modern third world country.
"You'll own Nothing and you'll be Happy"
Klaus's minions hard at work
Anyone who didnt see this coming with a giant flashing neon sign needs to touch grass and get out more
How do you lose jobs and say the labor shortage is big? Can somebody please explain.
Rate cuts will make things worse in the long run
stagflation.
Forget about soft landing already.. we are approaching a cliff rapidly
Thanks, Trudeau
I was laid off in july
better to leave if you can
@@user-ss1nz1dd9m leave what? canada?
This dude is drunk. The US fed hasbr even cut yet & he thinks Canada is going to cut 3 MORE times this year 😂😂. Get real. Canada won’t cut at next meeting
Yes they will. The business are going down the drain. And any downside in USA will impact double in Canada.
Yes it will
What rock have you been living under?
Canada my go more than 3 times, Canadian economy is in shambles!! Unemployment skyrocketing!!
Yes, the dangers are greater, but isn't the current business sector just as risky? The majority of those adopting these tactics are earning substantial gains. What I gather is that rather than long-term trading, instantaneous trading is the preferred method for managing this downturn and rapid expansion.
I believe that short-term trading, as opposed to long-term trading, is the best strategy for surviving the current recession and high inflation. Isn't the current market dangerous as well, despite the increased risks involved? Most people who use these strategies achieve significant financial success.
Because their entire philosophy is built around employing a high-profit oriented plan while simultaneously trading long and short, as well as decreasing risk exposure as a hedge against inevitable downtrends, I've been consulting an investment coach before making any investment decisions ever since the outbreak of 2020, which had a significant impact on the market. Under performance is almost unthinkable when combined with their access to strange data and analysis.
Would you kindly suggest a professional with a range of investing options? This is quite unusual, and I look forward to hearing from you.
When we had the pandemic, it force business to work differently. That's why we had work from home. I'm talking about a shift in mindset. Now with the extreme high interest rate for longer, business shifted into less hiring, force focus on Ai like we forced the Work from home.
Wer are currently there, huge focus on generativeAi to avoid hiring or replacing headcounts.
Its something again... Economist always fail to predict. But that's the beauty of it. When you are rich.... High interest is good because you get guaranteed return money 😂
People only care about one thing. House price go up.
Adjacent to that is interest rate go down to afford house.
Canada is so screwed.
Yet we added 100,000+ Uber Drivers/Couriers 🤦🏻♂️🤣💀💀💀
More full time jobs because people need to work more now with the high cost of living
Mexico has double digit interest rates and is thriving. Net migration into Mexico is huge. Canada missed the boat on interest rate policy. Zero interest rate policy destroyed Japan and crumbled the banking system in Europe.
Thought japans demise was the decades of unsustainable growth. Stock market and home prices rocketed to the moon and then it crashed.
when you create wealth you can afford to offer a return on that loan (Mexico)
when you leech off your fellow citizens via rentier activity your return has to be negative by stealing via inflation (Canada)
@@edubmfso true.
Interesting to see how 0.25% interest rate in Japan caused mayhem around the world. Keeping rates artificially at or near 0 (let's forget below 0 like Japan did) is never a good thing in the long run.
@@benhaze1010 zero rates lets people who have no clue waste resources because there is no opportunity cost. zirp == national cancer
> why are they not easing
this guy is a complete fool - they can't lower below the Fed, debt is for sale in a mkt
you want to buy 1bn CAD 10y debt at 2% lower than the Fed rate? Didn't think so.
How many of these full time jobs are taxpayer funded? ie government jobs?
90% 🤣 the private sector has been contracting for the last couple of years
@@user-ss1nz1dd9m Too funny. I remember seeing a stat that at least 1/4 of Canadians have their income tied to some level of government through employment, contracts, grants, or subsidies. That was quite a while ago. We are probably approaching 1/3.
Tech has been shedding jobs for 2 years.
Bring more indians.
The future has never been brighter for this country
🤣
BMO are in big trouble, this guy is from BMO, his job is to lie to extend the time before BMO tanks.
Absolutely despise trudeau
😞😞😞🇨🇦job well done
The soft landing
Oh really!? I’ve been trying to get a second job for a year now!
More like they got rid of 2800 lazy people.
Three of those jobs lost since April were mine. Situation is looking grim if things don't pick back up soon. I found temporary work in the meantime but permanent stable jobs are going extinct. After this I can't foresee ever buying a house or even renting in a stable way. It has become abundantly clear that jobs are not something to be relied on for a steady supply of income. How is it that firing people is nearly impossible, but you can call it a "layoff" and do it with zero consequence on a whim?
Lets talk about the numbers of people entering canada to work and live this year. Lets just talk those numbers of bodies entering just in 2024.
We need Less Politicians, they need to resign. Leaving us with A Conservative Government. Liberals got to go!
Labour reform in the Province of Ontario: Union dues are optional, tariffs & privatization.
🤣
The 10 year bond yield today in Canada is down a lot less than the 10 year bond yield in America. Down 1.34 percent compared to down 1.56 percent in America. The bond market seems to have taken the Canadian jobs report as good news not bad news.
Canada has to pay a higher rate on loans.
Loan 10k to your lawyer friend? okay say 5%.
Loan 10k to a junkie? you want 8%.
Trudeau out
it won't end with him, the whole system is rotten
Underground miner here laid off, ever since an American company bought in.........
Smart answer
🥵
The next one to lose his job is Tiff and JT.
Cheech and chong.
right, in this corrupt country? doubt it