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Canada loses 71,200 jobs in the biggest drop in employment in a decade


Ryan Strome

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Coding is outsourced all the time. Anyone who thinks differently is seriously misled. There's a website called fiver for example which is just that - why pay an AWS specialist 100k a year when Rajbinder in Bangalore India will do it for 30k a year. Software development is no more immune to this than tech or any other industry that can be done remotely/outsourced. 

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7 hours ago, Tortorella's Rant said:

Coding is outsourced all the time. Anyone who thinks differently is seriously misled. There's a website called fiver for example which is just that - why pay an AWS specialist 100k a year when Rajbinder in Bangalore India will do it for 30k a year. Software development is no more immune to this than tech or any other industry that can be done remotely/outsourced. 

I wouldn’t say misled.
 

American companies are outsourcing to Canada now for tech jobs and generally you’ll find start ups trying to outsource. But when the run into issues and a broken code base (which happens often when outsourcing), they eventually bite the bullet and go find someone in house. 
 

Also, with all these coding boot camps popping up all over North America, they could just hire someone for $30k in Canada vs outsourcing. 

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5 hours ago, langlands said:

Chevron just baled from the Kitimat LNG project that was supposed to be a sure thing. And then there was one, Shells LNG Canada still going ahead so far. 

The federal minister comments yesterday hardly helps. IMHO what many are missing in the discussion of Canadian LNG is American competition. The USA built out their LNG over the past 7 years while BC lost  14 projects. The Trump corporate tax cuts have put their industry back into the game. They can get their projects approved. There should be no doubt that a USA-China trade deal will see LNG with favoured status. A cheap way for the Chinese to reduce the trade imbalances. 

 

The failure to capitalize more more on the LNG opportunity is a major set back. The loss to Canada in taxation is in the billions of $. The announcement by Enbridge that they would be building a deep water oil port in Texas is another example of Canadian companies investing outside of Canada. 

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  • 1 month later...

In case anyone is interested in how this played out........

 

Canada net change in employment for January 34.5K versus 17.5K estimate

Fri 7 Feb 2020 13:30:06 GMT

 

Canada employment report for January 2019

Canada net change in employment
 
  • prior report +17.5K net change in employment revised to 27.3 K versus 35.2 K previously reported
  • net change in employment 34.5 K versus 17.5 K estimate
  • full-time employment change 35.7 K versus 33.9 K revised. Was 38.4 K previously.
  • part-time employment change -1.2 K versus -6.5 K revised. Was -3.2 K previously
  • unemployment rate 5.5% versus 5.7% estimate
  • hourly wage rate permanent employees YoY 4.4% versus 3.6% estimate.  3.8% last
  • participation rate 65.4 versus 65.6 estimate.  Prior month 65.5
the unemployment rate has move back down to the September 2019 level of 5.5%. It moved to 5.9% in November which was the high point for 2019. So on a downward trajectory again.
 
The job gains continue to recover from the November decline of -54.4K.  The last 2 months have seen a cumulative rise of 61.8K retracing those declines.
 
The wage gains of 4.4% is the highest since 4.54% seen in July 2019.
 
*****************
 
For those not interested in statistical mumbo jumbo : Jobs gained back, unemployment rate back down where it was, wage growth good.
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18 hours ago, nuckin_futz said:

In case anyone is interested in how this played out........

 

Canada net change in employment for January 34.5K versus 17.5K estimate

Fri 7 Feb 2020 13:30:06 GMT

 

Canada employment report for January 2019

Canada net change in employment
 
  • prior report +17.5K net change in employment revised to 27.3 K versus 35.2 K previously reported
  • net change in employment 34.5 K versus 17.5 K estimate
  • full-time employment change 35.7 K versus 33.9 K revised. Was 38.4 K previously.
  • part-time employment change -1.2 K versus -6.5 K revised. Was -3.2 K previously
  • unemployment rate 5.5% versus 5.7% estimate
  • hourly wage rate permanent employees YoY 4.4% versus 3.6% estimate.  3.8% last
  • participation rate 65.4 versus 65.6 estimate.  Prior month 65.5
the unemployment rate has move back down to the September 2019 level of 5.5%. It moved to 5.9% in November which was the high point for 2019. So on a downward trajectory again.
 
The job gains continue to recover from the November decline of -54.4K.  The last 2 months have seen a cumulative rise of 61.8K retracing those declines.
 
The wage gains of 4.4% is the highest since 4.54% seen in July 2019.
 
*****************
 
For those not interested in statistical mumbo jumbo : Jobs gained back, unemployment rate back down where it was, wage growth good.

Before you take any comfort from employment numbers check to see how many were government jobs. 

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10 hours ago, Boudrias said:

Before you take any comfort from employment numbers check to see how many were government jobs. 

Would be interested to hear.  Please tell us.

 

Nm I looked.  Almost none.

 

https://www.ctvnews.ca/mobile/business/statistics-canada-says-economy-added-34-500-jobs-in-january-unemployment-down-1.4801408

 

The job growth in January was powered by the goods-producing sector as it gained 49,100 jobs. The manufacturing group added 20,500 jobs for the month, while the construction subsector added 15,800. Agriculture added 11,500.

 

Meanwhile, the services-producing sector lost 14,500 jobs, weighed down by the loss of 16,000 jobs in the health care and social assistance subsector.

 

The gain in jobs for the month came as the number of full-time jobs rose by 35,700, while part-time employment fell by 1,200.

Edited by Warhippy
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