Canada is doing great! Amongst all the hardships of our lives - such as they are - and the real tragic news that touches us all from time to time, it is good once in a while to remember that this is a good time in a great nation. With the dollar hitting 80 cents USD for the first time since I was in my 20s (by 19 days) it is a prime time to go pressy shopping in the USA as I plan to on Tuesday. Share the wealth, baby.
Hey, our national unemployment is now down to the US government stat for Hispanics or Latinos. I don't know what to make of that stat. Would we question if we kept such as stat for those of Ukranian heritage in Saskatchewan? Irish Catholic in Newfoundland? Do we feel good that we are on that par. That is just a weird stat.
In the past year we have added 272,100 jobs - 115,000 public sector, 157,100 private sector - plus 43,700 self-employed. That 315,800 represents 2% of the working population added in the last year. That is about twice population growth now. That is not bad and probably had little to do with anyone in authority.
Comments
Arthur - October 11, 2004 4:06 PM
Canada is doing great!
A higher loonie is actually bad for most Canadian companies, particularly the ones that depend on exporting goods and products to the US.
I'm pretty sure our accountants aren't happy with the rising loonie.
Alan - October 11, 2004 4:10 PM
Do I look like an accountant? <p>It is interesting to note that we have not lost 22% of the value of our exports as the dollar has risen 22% since it was at 63 cents. The feared loss of jobs has also not occurred. People like what we make enough to pay 22% more for it. That is good news.
Alan - October 11, 2004 4:35 PM
Further, we are creating more on a gross national scale. There has been a 3.2% increase in gross domestic output from July 2003 to July 2004. Further, if you look at this chart which sets out the increase in the value of the Canadian Dollar from July 2002 to July 2004:<p><img src="images/2004c/2y.gif"><br>[from yahoo]<p>...to this one tracking the increase in gross domestic product from roughly the same period: <p><img src="images/2004c/c040930a.gif"><br>[from stats canada]<p>...you can see that our increased dollar and increased out put are tracking in the same direction as a general trend. A five percent increase in output during a period of over fifteen percent increase in the cost of the Canadian dollar.<p>Also interesting is the fact that we have translated this also into new jobs. During the period September 2003 to September 2004, there was a 0.8% drop in unemployment and 126,000 fewer unemployed.<p>Ok, ok - I am sounding like an accountant but this is godd stuff.
Arthur - October 11, 2004 8:17 PM
our increased dollar and increased out put are tracking in the same direction as a general trend.
My 2 year Economy background is rusty, but doesn't that sound like 'inflation'? Fire at will at me.
Alan - October 11, 2004 10:45 PM
Good point - but these are low inflationary times for us in side Canada. Isn't the thing that we are exporting the inflation as well in that only others using US dollars pay it.