A massive loss of full-time jobs raises concerns about our so-called “growth”.
From the outside, the August jobs report doesn’t seem too bad. There was a net increase of 22,000 jobs, and the unemployment rate fell to 6.2%.
However, a closer look reveals a big concern.
88,100 full-time jobs were lost, while 110,400 part-time jobs were created.
An economist from CIBC said the report was “Overall, a mixed bag of good headlines with weaker details.”
This continues a disturbing long-term trend in the economy, as good secure jobs are harder to find, and precarious employment takes over.
35,900 service sector jobs (typically lower-paying and less secure) were created in August, but 13,700 factory jobs, and 11,100 manufacturing jobs were lost in that same time period.
The slow destruction of the middle-class
For decades, the middle-class has been eroded bit-by-bit. A combination of so-called “free trade” deals that benefit big corporations by shifting good jobs from countries like Canada to countries with cheap labour, regulations that restrict growth and innovation, and the expansion of government at the expense of taxpayers, has increasingly divided our society. A small elite has pocketed increasing wealth, while the vast majority of us are forced to struggle in precarious conditions, burdened by increasing debt and a higher cost of living.
This is not sustainable, and the focus on short term “growth” ignores these serious underlying problems.
Unfortunately, the consensus that giving cheap labour countries more access to our markets (at the expense of our workers) is somehow a good idea, remains dominant among the elites. Now, Trudeau is pushing for free trade with China, which will massively accelerate the loss of good jobs in the country. If that happens, the 88,100 full-time jobs our economy lost in August will be just the beginning of the end for what’s left of middle-class Canada.
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The elites want to hide their many failures behind political correctness, deception, and manipulation. We need to push back and spread the truth.
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