Recession in Canada
Mar 3rd 2009, 5:36 am
#31
Joined: Feb 2007
Posts: 2,332
Re: Recession in Canada
Todays news:
http://www.thestar.com/business/article/595655
http://www.thestar.com/News/Ontario/article/595753
http://www.thestar.com/Business/article/595756
An opinion........
http://www.thestar.com/Canada/Columnist/article/595473
Our thoughts......
More job cuts, people are not spending, shops are very quiet here in Bolton, people are more worried now, than they were last week.
We were looking to buy a house, that is on hold for the moment.....
http://www.thestar.com/business/article/595655
http://www.thestar.com/News/Ontario/article/595753
http://www.thestar.com/Business/article/595756
An opinion........
http://www.thestar.com/Canada/Columnist/article/595473
Our thoughts......
More job cuts, people are not spending, shops are very quiet here in Bolton, people are more worried now, than they were last week.
We were looking to buy a house, that is on hold for the moment.....
Last edited by purple80; Mar 3rd 2009 at 5:38 am.
Mar 3rd 2009, 6:42 am
#32
Joined: Aug 2005
Posts: 14,227
Re: Recession in Canada
Well, he still has time to be wrong 
. But with the colossal collapse in credit I can't see that governments have much choice other than to print money and throw it out of helicopters in an attempt to inflate away the debts... though what the actual effect will be is another question entirely.
. But with the colossal collapse in credit I can't see that governments have much choice other than to print money and throw it out of helicopters in an attempt to inflate away the debts... though what the actual effect will be is another question entirely.
Mar 3rd 2009, 6:55 am
#33
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Joined: Mar 2009
Location: pontypool, south wales
Posts: 2
Re: Recession in Canada
sounds like its the same as in the uk but they are still looking for uk workers to go out there, makes no sense to me
Mar 3rd 2009, 6:59 am
#34
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Joined: May 2006
Location: M'cr-Red Deer-M'cr-??
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Re: Recession in Canada
what seems to be the case (in canada at least) is that rather than making redundancies, companies have put into place, hiring freezes, (in addition to pay rise freezes / hour reductions,) whilst trying to increase / sustain other 'incentives' which are more affordable. (this is only what i have read; personal experiences of those in here might be quite different.)
effectively there is the long term recognition that things will improve, but this is having to be managed in the interim through cost saving measures just to sustain survival!
and of course there is also the resource of temporary workers who can be trained at a lower rate of salary, (with the company making a lesser commitment to such workers than permanent staff,) who when things improve, will seize the chance of long term, permanent offers of employ.
it is said that opportunity lies in adversity and i fear that one opportunity is to turn things into an 'employer's market'. (we might end up wishing we could have 10 days annual leave per year!)
effectively there is the long term recognition that things will improve, but this is having to be managed in the interim through cost saving measures just to sustain survival!
and of course there is also the resource of temporary workers who can be trained at a lower rate of salary, (with the company making a lesser commitment to such workers than permanent staff,) who when things improve, will seize the chance of long term, permanent offers of employ.
it is said that opportunity lies in adversity and i fear that one opportunity is to turn things into an 'employer's market'. (we might end up wishing we could have 10 days annual leave per year!)
Mar 3rd 2009, 7:07 am
#36
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Joined: Mar 2009
Location: pontypool, south wales
Posts: 2
Re: Recession in Canada
not sure who "they"are but when i look on the jobcentre website and type in local jobs eg pontypool and 20 mile radius travelling the first 3 jobs to come up are all in Canada. Long way to commute i think!
Mar 4th 2009, 2:32 am
#37
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Joined: Mar 2009
Location: Calgary, AB
Posts: 487
Re: Recession in Canada
I have also read in the papers that the Canadian govt is putting Canadian citizens first when it comes to jobs and that any immigrants are up the creek without a paddle when it comes to finding work.
As I have said to friends and family here in the Uk, I don't care what job I do over there just so long as I bring in enough money to put food on the table and to pay the bills.
Its so typical that the best time to buy a house in Canada is now, and yet there are no jobs with which to service a mortgage.
As I have said to friends and family here in the Uk, I don't care what job I do over there just so long as I bring in enough money to put food on the table and to pay the bills.
Its so typical that the best time to buy a house in Canada is now, and yet there are no jobs with which to service a mortgage.
Mar 4th 2009, 2:51 am
#38
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Joined: Sep 2003
Location: Christina Lake. BC
Posts: 674
Re: Recession in Canada
I have also read in the papers that the Canadian govt is putting Canadian citizens first when it comes to jobs and that any immigrants are up the creek without a paddle when it comes to finding work.
As I have said to friends and family here in the Uk, I don't care what job I do over there just so long as I bring in enough money to put food on the table and to pay the bills.
Its so typical that the best time to buy a house in Canada is now, and yet there are no jobs with which to service a mortgage.
As I have said to friends and family here in the Uk, I don't care what job I do over there just so long as I bring in enough money to put food on the table and to pay the bills.
Its so typical that the best time to buy a house in Canada is now, and yet there are no jobs with which to service a mortgage.
Mar 4th 2009, 3:31 am
#39
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Joined: Jul 2007
Location: White Rock BC
Posts: 11,686
Re: Recession in Canada
People can NOT get credit in Canada now and this is going to get worse they will have no choice but to be careful.
And you wait until interest rates rise at an alarming rate to pay for all the bail outs yes a lot worse in UK and the USA.
However, this will mean the recession is over and the economy is expanding again.
I don’t think this is pessimistic but more likely realistic. 
Mar 4th 2009, 3:46 am
#40
Joined: Aug 2005
Posts: 14,227
Re: Recession in Canada
Some people will always predict the sky is about to fall. I think talking of a depression is more sensationalism than serious analysis. That is not to say it can't happen. I can make guesses about what will happen in the future, but I don't know for certain. Nor does anyone else.
Credit is still available. I agree that people at the margins are finding it very difficult to get affordable credit.
I don't understand your point. Canada (like the UK and US) will have ultra-low interest rates for quite some time. The next step will be to increase the money supply by nationalizing some of the problem debts the banks hold. In time, this will mean inflation will start to creep back into the system as the economy gets moving again and consequently interest rates will start to rise.
However, this will mean the recession is over and the economy is expanding again.
I think you are overly pessimistic.
Credit is still available. I agree that people at the margins are finding it very difficult to get affordable credit.
I don't understand your point. Canada (like the UK and US) will have ultra-low interest rates for quite some time. The next step will be to increase the money supply by nationalizing some of the problem debts the banks hold. In time, this will mean inflation will start to creep back into the system as the economy gets moving again and consequently interest rates will start to rise.
However, this will mean the recession is over and the economy is expanding again.
I think you are overly pessimistic.
Personally my big worry is the weimarization of the CAD$ - hopefully very low probability - but I wouldn't rule it out.
Mar 4th 2009, 3:57 am
#42
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Location: Calgary, AB
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Re: Recession in Canada
Likewise with us when it comes to buying a house, (an appartment in our case) - we would buy one OUTRIGHT.
We also need to have an address for correspondence to go to, a base to build our lives from.
There is nothing worse than living out of a suitcase when you have up-rooted your lives to move continents.
We also need to have an address for correspondence to go to, a base to build our lives from.
There is nothing worse than living out of a suitcase when you have up-rooted your lives to move continents.
Mar 4th 2009, 4:16 am
#43
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Location: St. Albert. AB.
Posts: 3,286
Re: Recession in Canada
Edmonton Police Service are recruiting 227 officers this year. For those who are really desperate. Start on 50k and you get a gun.
Mar 4th 2009, 4:19 am
#44
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Joined: Mar 2009
Location: Calgary, AB
Posts: 487
Re: Recession in Canada
What about RCMP?? Do you have to be a Canadian to be a Mountie?!!!
I love horse riding so that could be a great job!!!
I love horse riding so that could be a great job!!!
