Posted on: 02-12-05 13:10:47
http://www.theglobeandmail.com/servlet/story/RTGAM.20051202.wjobscan1202/BNStory/Business/
Canada's unemployment rate unexpectedly fell to 6.4 per cent, its lowest in more than 30 years, as the economy added 30,600 jobs in November, Statistics Canada said Friday
BS
Quote:
Orginally posted by neerajj
BS
OK guys this is not BS. You have to undertsand that the statistics always don't cover a lot of people who should have been considered e.g. self employed people who are self employed because they couldn't get a decent job.
Also statistics don't cover by race and 6.4% is an average for the total population. The unemployement rate in new desi immigrants is significantly higher may be around 15-20%.
The larger white population (87% of Canadian population) may have an unemployment rate close to 5.5% (just a guess) while asians (who make up about 8% of the total population) may have an unemployment rate of 12 - 15%. So when you average you say a nice figure 6.4%
Also by definition of employment even if you are employed part time in McDonalds flipping burgers at minimum wage you are still employed.
So this no BS. You got to understand how to interpret the numbers.
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Unemployment rate is total BS.. it says unemployment in India is about 12-13%.. !!
important number is increase in median income over the period of past 2-3-5 years.. Looking by that lense.. Canadians of all races have their incomes frozen for past 15 yrs.. meanwhile USA has seen consistant increase in the same.. that\\\\'s what decides standard of living which is falling behind US standard .. Although Canada is not the only country.. same goes for Europe, Japan and UK.. Australia again is exception. I suspect immigration itself distorts job-market by causing over-supply .. for forward movement in wages and standard of living slightly heated job-market is a necessity..
Quote:
Orginally posted by zCool
Unemployment rate is total BS.. it says unemployment in India is about 12-13%.. !!
important number is increase in median income over the period of past 2-3-5 years.. Looking by that lense.. Canadians of all races have their incomes frozen for past 15 yrs.. meanwhile USA has seen consistant increase in the same.. that\\\\\\\\\\\\\\\\'s what decides standard of living which is falling behind US standard .. Although Canada is not the only country.. same goes for Europe, Japan and UK.. Australia again is exception. I suspect immigration itself distorts job-market by causing over-supply .. for forward movement in wages and standard of living slightly heated job-market is a necessity..
As I said it is not BS. If the economy is loses say 50,000 well paid jobs and creates 100,000 minimum wage jobs, according to statistics the unemployment rate went down!!.
I agree with you that we should look beyound unemployment rate to determine the strength of a country's economy. We should look at things like average per capita income, the income distribution etc.
You see statistics are never BS. It is the way you understand them. No one ever takes one statistic and determines the strength of an economy.
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Deleted duplicate post
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Quote:
Orginally posted by zCool
Canadians of all races have their incomes frozen for past 15 yrs.. meanwhile USA has seen consistant increase in the same.. that\\\\\\\\\\\\\\\\'s what decides standard of living which is falling behind US standard ..
There was an article in Globe and Mail in July-05. It was regarding the concern raised by the finance minister of canada for productivity and per capita income of canadians
Since 90's the productivity of canadians is not growing whereas that of US is growing steadily and the gap in the living standard between the two countries is growing steadily. If this rate of low productivity continues for another two decade or so the living standard and per capita income of canadians will be 50% less than that of america.
This is a huge difference
