'Me-cession' continues in Canada

Brendon Bernard, senior economist at Indeed, joins BNN Bloomberg to discuss demographics most affected by job loss.

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[funkspinna]

But hey, let's keep the immigration rate near record levels.

[DiscDriver]

loses 2, 800 jobs
adds 100, 000 people
that math doesn't math

[rjlhee]

Media is really allergic to the word recession. Me-cession is really cringy as a term.

[kortyEdna]

I foresee a recession lasting 2-3 years, and if inflation continues to surge, the Federal Reserve will likely raise interest rates soon. Inflation is causing various issues worldwide, such as food shortages, scarcities of diesel and heating fuel, and significant spikes in housing prices, leading to a potential financial market crash. This global downturn could have long-lasting repercussions. Given the current inflation rate of approximately 9%, my main worry is how to optimize my savings and retirement fund, which has remained stagnant at around $300, 000, yielding almost no gains for quite some time.

[zsazsa]

What a joke 25% of Canadians visiting foodbanks...yeah sure a me-session.

[DesmondReed-ye]

So happy to have found a job in the USA. With a Masters I was in poverty in Canada, but doing well since being out. I've saved more money in 1.5 years then 38 in Canada.

[bin]

Lets make one thing clear. Canada doesnt have population growth. It has an imported growth. Hence why gdp is down and quality of life crashing

[zomgoose]

Turdeau has completely sold out young Canadians.

[meh]

Let’s talk about the unnecessary and troubling increase in public sector employment masking the private sector declines.

[vxCOCOxv]

Companies say they can’t find workers-no, not true. They just don’t want to pay the wages. Many jobs have dropped their salaries, no one is competitive for wages-no adjustments for inflation. We’re not okay living 3-5 adult strangers in a house but many newcomers are. So they take the jobs knowing they can afford to live with many people.

[dritazane]

Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!

[sarscov]

me-cession ? wtf. nice gas lighting for an incompetent administration

[CondeDuraluminio]

Using technicalities for not calling current situation in Canada by its name is cowardice... Canada is on recession, job market is broken...

[compoundingloonies]

Taxes are eating people alive. Government just keep finding ways to tax small businesses. It is so hard to get ahead as a small business owner

[richarddespres]

If disallowing temporary foreign workers will have "disastrous consequences" for Canadian businesses then they need to re-evaluate how they do business. Pay better wages to entice Canadians to do your jobs for you and then you don't need a temporary worker.

[jamesthompson]

It's only anecdotal evidence - my sample size is miniscule - but the 5 Uber drivers I've had in the past 3 weeks have all arrived in the past 3 years (3, 3, 3, 1, 1) "to attend school" but when I quiz them about that they've registered with commercial colleges - not a university or one of the community colleges - & they say they aren't attending classes. They ARE driving Uber full-time.

And they all say they aren't intending to stay: they're just here for the duration of their student visa, intend to return in India (they're all from India: 3 from the Punjab, 2 from Bengal).

Quizzed, they say their friends & neighbors here are similarly short-term visitors here specifically to work, not go to school. And they don't believe these people will stay either.

I won't suggest this is indicative of the whole immigrant population, but there does appear to be a significant contingent of "students" who have found a way to game the system to obtain, in effect, a work visa. They've heard in India this is the place to go. Most (4 out of 5) have worked elsewhere: Dubai, Oman, Qatar.



The situation may self-correct eventually: none of them felt they'd found a good deal. Rent costs & general living costs are viewed as too high, the pay available in the jobs they feel they can access too low. My last driver felt he came out farther ahead in the Arab gulf states driving a truck: cost of living wasn't as high & there were no taxes.

[ezdividends]

Young Canadians are suffering at the expense of incoming foreigners due to government failure and no one is doing anything about it, so sad what this country has become..

[endlessorbaggins]

Saw a video the other day about survey where almost 80% respondant said they were expecting lay-offs this year in the company they work for. The company I work for has announced they will do lay-offs by the end of the year because revenues are down and all indicates it will not shift for the better soon.

[daxter]

Great. 1M immigrants/ year. No jobs. No housing.
Welcome to the Canadian mess. Thanks JT & Freeloader

[truerebelproduction]

Jobs number will be more worst, if they don't count LMIA fake job