Monday, November 7, 2011
Canadas Job Shortages
In the month of October Canada had a net loss of 54,000 jobs. There is obviously a shortage in jobs in Canada right now because it’s the biggest monthly drop since the depths of the global economic crisis, and the latest headwind to buffet one of the most resilient developed economies. Canada's jobless rate climbed to 7.3% in October, up from 7.1% in September, 54,000 more jobless people in one month! Because Canada has a heavy export economy and the United States is the main place the Canadians trade with. Since the US isn’t importing much from Canada right now there are fewer jobs in their manufacturing causing there to be layoffs. It is a causer and effect, the cause for the jobs loss is the bad economy in the US, the effect is unemployment in the Canadians manufacturing market it to rise. The small amount of jobs in the manufacturing market in Canada is a perfect example of a shortage.