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10 Sep, 3 tweets, 2 min read
Another strong jobs report confirms 🇨🇦's post-COVID rebound is continuing in the 3rd quarter. 90K new jobs, ¾ full-time. Official unemployment rate falls to 7.1%, lowest since COVID hit. Some evidence wage growth is accelerating: both hourly & weekly wages up 8% vs. Aug'19 ...2
Canada's employment recovery has been notably stronger than in the US, & the gap is growing. The claim that Canada's (stronger) emergency income supports somehow 'inhibit work' is false. The opposite is true: more consistent spending power has supported recovery. #Elxn44 #cdnecon
Here's a top-notch look at today's jobs numbers, in the context of bigger structural changes in 🇨🇦's labour market since COVID, by @don_pittis for @CBCNews: cbc.ca/news/business/…. I argue low-wage businesses facing labour retention problems need to blame themselves, not govt.

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More from @JimboStanford

Jim Stanford Profile picture
10 Sep
Decent, stable work and income are obviously critical for most people. Politicians know it, so they're all trying to look like friends of the workers. But which policies would help & which would hurt? Follow this thread for my takes from tonight's #Elxn44 debate. @CntrFutureWork
Phasing out fossil fuels over 20 yrs = a shift of 8000 jobs per year. Retirement absorbs over ½ of those. We could offer full adjustment packages for the others ($250K each) at a cost of $1b/year. Denying the transition doesn't help; starting early does. centreforfuturework.ca/2021/01/18/emp…
Mr. O'Toole's low carbon savings accounts have not been costed, no-one knows how this would work. #Elxn44 #cdnpoli
Read 14 tweets
Jim Stanford Profile picture
9 Sep
THREAD: I will be live-tweeting on labour & employment issues from the #Elxn44 English debate this evening. My impressions and fact checks will draw on recent @CntrFutureWork research into several of the topics that should come up tonight, including:
...2
#cdnpoli #cdnecon
a) The economic & employment benefits of universal ECE: centreforfuturework.ca/2020/11/25/chi…. We found a national plan would create over 200K jobs in ECE itself, 80K in supply industries, and support up to 725K more FTE female labour force participants. A big boost to post-COVID recovery
...3
b) The need for pro-active & supported transition planning for workers in fossil fuel industries: centreforfuturework.ca/2021/01/18/emp…. Pretending the transition isn't happening doesn't help the 50K who've already lost work, without support. Will the next govt implement a genuine plan?
...4
Read 7 tweets
Jim Stanford Profile picture
10 Jul
I'm gobsmacked by the interview just now on @cbcasithappens with the manager of Nashville North, a private nightclub on the Stampede grounds in Calgary. His explanation of their privatized health protection plan (allowed now Kenney has lifted all restrictions) was horrifying: ..2
* Club will operate at full capacity, no masks required
* Entrants must either show a facsimile of a COVID vaccination (just 1 shot required, not 2) or take a rapid COVID test
* Both of those are obviously very unreliable (efficacy of 1 shot against COVID variants is risky) ..3
* The manager boasted about being 1st venue in Cda to require COVID vaccination proof as condition of entry. This system will not do that, however. Any teenager knows it's easy to provide fake physical ID, let alone fake an image of a document on a phone ..4
Read 7 tweets
Jim Stanford Profile picture
5 Feb
THREAD "Heartbreaking" is the only word I can find to describe today's awful 🇨🇦 #LFS jobs numbers: both the scale of job loss, and their painfully unfair distribution. 213K jobs lost in January, back to August levels of employment, unemployment, and participation. #cdnecon ...2
Just like the first wave, job loss is concentrated among those who can least afford it. Part-timers lost all the jobs; full-timers gained work. Women lost work twice as fast as men. Temporary jobs disappeared 7 times faster than permanent. Youth (under 25) lost work 4x faster...3
The racial concentration of economic hardship mirrors the racial inequity of COVID infection. Unemployment among racialized communities is twice or more as high as for whites. 20% for SE Asian, 16% for black & Latinx. ...4
Read 8 tweets
Jim Stanford Profile picture
6 Jan
Apart from the calculated brutality of this view, think what it would mean for prison guards & medical staff who work in prisons (which have suffered many horrible outbreaks). O'Toole's cheap politicking would consign those workers to death along with the prisoners. #Shameless
Here are some questions I really hope reporters will ask today:
1. To Theresa Tam and other PHO's: Why do you think prisoners should get the vaccine, and what are the health risks to the PUBLIC if they are not vaccinated?
...2
2. To legal experts: What are the constitutional, civil, and even criminal risks of denying essential health care to prisoners, and what are the financial risks to the federal govt if courts should rule against this policy?
...3
Read 7 tweets
Jim Stanford Profile picture
30 Nov 20
Before people go into paroxysms of deficit-angst today, keep in mind a fundamental truth of economic accounting: one sector's deficit is another's surplus. By pumping billions into income supports & business subsidies, fed govt literally made us richer #FiscalUpdate #cdnpoli ..2
Household saving grew dramatically during the pandemic: partly because shopping was hard, but mostly because fed income supports & wage subsidies protected incomes. Business saving also grew (less dramatically). Graph shows change in quarterly net savings from 4Q19 to 2Q20. ...3
Without that huge injection (and corresponding deficit), households would have experienced much bigger losses, with resulting macro-economic destruction: collapsed spending, evictions, worse job loss. Best of all: negative real interest rates mean it cost govt nothing.
Read 6 tweets

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