Canadian job losses in October

[Jason]

Canada lost 43,000 jobs in October, which is twice the pro-rated number lost in US. Obviously lots of people in Canada are highly delusional judging by the surging housing market :p

http://www.chtv.com/ch/cheknews/story.html?id=2192117

[Rickson9]

Canada lost 43,000 jobs in October, which is twice the pro-rated number lost in US. Obviously lots of people in Canada are highly delusional judging by the surging housing market :p

That, or the people who have been predicting an RE crash in the face of years of consistently increasing prices are out to lunch. One or the other anyway.

In addition, there is no data to suggest that unemployment is correlated whatsoever with real estate. I would also propose that it would be difficult to believe that the rise in RE values are due to the rabid buying by hordes of the unemployed; so to mention unemployment with regards to 'surging housing market' is just another tool in the fear playbook.

Anecdotally, none of our friends have had any problem finding a job.

[Elli Davis]

That sure is a lot. Stuff like this always happens when we start feeling confidential about the end of recession etc.

[trent]

In addition, there is no data to suggest that unemployment is correlated whatsoever with real estate.

Yeah sure, unemployed people buy overpriced houses like crazy. After all ever increasing housing prices is their last ticket to financial survival :p

[Elli Davis]

Yeah sure, unemployed people buy overpriced houses like crazy. After all ever increasing housing prices is their last ticket to financial survival :p

Lol, nicely put. I seriously did laugh out loud at this post. Thanks for making my mood a lot better.

[Rickson9]

With regards to the OP re: unemployment numbers.

[4:30]

The unemployment rate is the most lagging economic indicator and has never peaked during a recession. It has always peaked well after a recession has been over.

The historical average is that the unemployment rate peaks 6 months after a recession is long gone.

http://tinyurl.com/y8nh69c

[Canadian]

With regards to the OP re: unemployment numbers.

[4:30]

The unemployment rate is the most lagging economic indicator and has never peaked during a recession. It has always peaked well after a recession has been over.

The historical average is that the unemployment rate peaks 6 months after a recession is long gone.

http://tinyurl.com/y8nh69c

That's fine but the unemployment is not peaking, and I don't see it peaking for the next 18 months. After that there is no guarantee that we are going back to pre-bubble levels of employment with all the jobs shipped and still shipping to Asia...

[Rickson9]

That's fine but the unemployment is not peaking, and I don't see it peaking for the next 18 months. After that there is no guarantee that we are going back to pre-bubble levels of employment with all the jobs shipped and still shipping to Asia...

It's difficult to make predictions. Especially about the future.

Nobody predicted the real estate and stock markets to make the gains they did in 2009 either.

[Canadian]

Here are the facts about unemployment. You make your own conclusions.

http://www.financialpost.com/story.html?id=2260102

[Elli Davis]

Here are the facts about unemployment. You make your own conclusions.

http://www.financialpost.com/story.html?id=2260102

Thanks, seems interesting. Gonna read it now.

[Rickson9]

With regards to the OP re: unemployment numbers.

[4:30] The unemployment rate is the most lagging economic indicator and has never peaked during a recession. It has always peaked well after a recession has been over.

The historical average is that the unemployment rate peaks 6 months after a recession is long gone.

http://tinyurl.com/y8nh69c

That's fine but the unemployment is not peaking, and I don't see it peaking for the next 18 months. After that there is no guarantee that we are going back to pre-bubble levels of employment with all the jobs shipped and still shipping to Asia...

Instead of 18 months, the next 1 month...

"Canada's economy created a stunning 79,000 jobs in November as the private sector finally began hiring again."
http://www.theglobeandmail.com/report-on-business/canada-pumps-out-the-jobs/article1388321/

"The U.S. unemployment rate unexpectedly fell to 10 per cent in November as employers cut the smallest number of jobs since the recession began. The better-than-expected job figures are a rare note of encouraging news for the labour market."
http://www.theglobeandmail.com/report-on-business/us-jobs-market-picking-up/article1388426/