Having survived an equivalent "economic downturn" when I entered the working world in 1989, I realized some general observations that I think are still true today:
- "Jobs are increasing" is very good indicator -- if you are UNEMPLOYED or want to be able to shop the job market. Otherwise if you are gainfully employed, the job stats generally don't affect you.
- Costs of groceries, gas, etc. largely are supply chain matters, and larger-scale macroeconomics. So Canada has lots of gas (for Canadians), but the pricing gets affected by world situations. Whether that's good or bad really depends upon how you look at the whole international game. But at ground zero, you seldom see much change to costs until there's a worldwide supply chain breakthrough.
I don't mean this to rain on the good news parade - just saying that we can have good and meaningful news about how our economy is changing, and good that we're employing more people (this is good, because employed people do help, in the long run, with improving supply chains, etc). But this type of good news usually doesn't immediately affect employed people with any tangible benefit—until supply chains can adapt.
As Bo said, until the changes can lead to better/higher take-home pay and a lessening of costs, average Canadians won't see benefit from the good news, at least not immediately.
neoliberalism, rising inequality and the simple fact neoliberalism has sent productivity increase to the rich, not to the workers and families. Robert Reich in the USA suggests 8 trillion $ , so at 10 % that's 8 trillion in Canada and we are feeling it. That's since about 1980 by the way
Having survived an equivalent "economic downturn" when I entered the working world in 1989, I realized some general observations that I think are still true today:
- "Jobs are increasing" is very good indicator -- if you are UNEMPLOYED or want to be able to shop the job market. Otherwise if you are gainfully employed, the job stats generally don't affect you.
- Costs of groceries, gas, etc. largely are supply chain matters, and larger-scale macroeconomics. So Canada has lots of gas (for Canadians), but the pricing gets affected by world situations. Whether that's good or bad really depends upon how you look at the whole international game. But at ground zero, you seldom see much change to costs until there's a worldwide supply chain breakthrough.
I don't mean this to rain on the good news parade - just saying that we can have good and meaningful news about how our economy is changing, and good that we're employing more people (this is good, because employed people do help, in the long run, with improving supply chains, etc). But this type of good news usually doesn't immediately affect employed people with any tangible benefit—until supply chains can adapt.
As Bo said, until the changes can lead to better/higher take-home pay and a lessening of costs, average Canadians won't see benefit from the good news, at least not immediately.
neoliberalism, rising inequality and the simple fact neoliberalism has sent productivity increase to the rich, not to the workers and families. Robert Reich in the USA suggests 8 trillion $ , so at 10 % that's 8 trillion in Canada and we are feeling it. That's since about 1980 by the way