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Email this7:30 pm
October 29, 2017
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AltaRed said
The economy should not work (cater to) those who exercise poor judgement in lifestyle choices and fiscal management. They will always rattle around in a can no matter what the circumstances.They are only hurting because they did it to themselves.
These are statements of political views. You are talking about how people should be treated because of their choices.
Stop it!
I’ll repeat, once more, about the fact that 53% of the population is seriously hurting from high inflation and that will hurt everyone in the country to some extent. If not today, then later on. That is all I have pointed out.
8:09 pm
October 27, 2013
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The income side goes up with inflation too for the most part, albeit with upwards or a one year delay in application of CPI (to wages, CPP, OAS, GIS, tax deductions, marginal tax rates, etc). I don't accept your premise.
9:03 pm
October 29, 2017
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AltaRed said
The income side goes up with inflation too for the most part, albeit with upwards or a one year delay in application of CPI (to wages, CPP, OAS, GIS, tax deductions, marginal tax rates, etc). I don't accept your premise.
Unfortunately, a year later of increases in CPP is a bit late for someone that needs it right now. That 4.7% in October and I’m thinking 5% for November, won’t be applied until 2023.
9:17 pm
October 27, 2013
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A nitpick but Nov 2020 - Oct 2021 will be applied to Jan 2022. Clearly some high recent months of high inflation will be reflected in the Jan 2022 adjustment, but yes, I agree the average lag is approximately 8 months.
I clearly can't get very excited about this but I imagine the folks from Unifor, CARP, CCPA et al do.
https://www.canada.ca/en/services/benefits/publicpensions/cpp/old-age-security/cpp-price.html
10:57 pm
October 29, 2017
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Yes, it is November to October. For some reason I was thinking October to September. That 4.7% will be included for 2022.
Yes, my thinking was stuck on TFSA indexation calculation. It is October to September.
12:22 pm
April 6, 2013
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AltaRed said
The economy should not work (cater to) those who exercise poor judgement in lifestyle choices and fiscal management. They will always rattle around in a can no matter what the circumstances.…
Vatox said
…
I’ll repeat, once more, about the fact that 53% of the population is seriously hurting from high inflation and that will hurt everyone in the country to some extent. If not today, then later on. That is all I have pointed out.
There's no evidence of that. The sources you posted contradict that.
For example, that March 2021 Ipsos poll you referred to:
Over Half (53%) of Canadian Households $200 or Less Away from Insolvency, Yet Still Optimistic about Financial Future
…
Toronto, ON, April 8, 2021 — …These are some of the findings of an Ipsos poll conducted between March 4-9, 2021, on behalf of MNP LTD. …The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll is accurate to within ±2.5 percentage points, 19 times out of 20, had all Canadian adults been polled …
The Ipsos poll was done years before in March 2017. What did Ipsos find in March 2017, when according to the Consumer Price Index, prices were 6.9% lower?
Half of Canadians (52%) Are $200 or Less Away from Financial Insolvency at the End of the Month
Toronto, ON – Half (52%) of Canadians are just $200 or less away from financial insolvency at the end of the month, a new Ipsos survey for MNP Debt has found.…
These are some of the findings of an Ipsos poll conducted between March 27 and March 30, 2017, on behalf of MNP Debt. … The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll is accurate to within +/ - 2.9 percentage points, 19 times out of 20, had all Canadian adults been polled. …
No change. The 1% difference well within the ±2.5% error of the polls.
That's in spite of the fact that from March 2017 to March 2021, the Consumer Price Index rose by 7.5%, from 129.9 to 139.6, and we ran into a COVID pandemic.
AltaRed is right. Some people "will always rattle around in a can no matter what the circumstances."
People don't always stay in that can either. I'm sure at one point I was less than $200 away from insolvency. But, as one advances in one's career, one steps out of that group.
12:58 pm
September 11, 2013
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No worries, fiscal policy including interest rate setting is not determined by one random stat and then running with it. There are a myriad of indicators at any point in time, some indicate inflationary pressures, some deflationary, others neutral, and so on.
Right now, I do know that many employers are having difficulty filling positions, it seems for whatever reasons lots of folks aren't particularly motivated to work, apparently.
1:39 pm
October 29, 2017
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Not sure how you figure there is no evidence..
https://www.cbc.ca/news/canada/toronto/food-banks-canada-hungercount-report-1.6226965
One other huge misunderstanding, is that a massive demographic transition is underway and huge numbers are leaving the workforce. That means that low unemployment does not mean everyone has decent income from working because retired people aren’t included. You had better hope that all those new retirees have solid savings reserves.
2:20 pm
October 29, 2017
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Bill said
Right now, I do know that many employers are having difficulty filling positions, it seems for whatever reasons lots of folks aren't particularly motivated to work, apparently.
That’s because a lot of workers left their jobs during shutdowns and restrictions. They retrained for other jobs and never returned to the old ones. Also, many older workers simply decided to retire under those same circumstances. Restaurant workers is just one example for this problem. Just remember that a shortage of workers doesn’t mean everyone has solid income just because they aren’t filling the jobs.
2:43 pm
October 27, 2013
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There are now more people employed today than there were in 2019 pre-pandemic, since the end of CERB benefits. So it seems people are indeed working and not leaving the workforce in droves, granted it appears via StatsCan many of these are folks that were previously self-employed. Your selective data points are skewed by your own bias. There are clearly people unemployed today (obviously from the unemployment rate) but why are they not prepared to fill some of the 1 million vacancies? Unwillingness to re-train? Unwillingness to re-locate? Unwilling to travel? Unwilling to have a windowless office? Obviously a variety of things.
Most anyone who wants a job should be able to get one, even if it is a restaurant job. There are vacancies galore here in the hospitality industry. Just not necessarily in the unemployed's preferred choice of work. So what? No one is guaranteed choice.
2:51 pm
October 29, 2017
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AltaRed said
There are now more people employed today than there were in 2019 pre-pandemic, since the end of CERB benefits. So it seems people are indeed working and not leaving the workforce in droves, granted it appears via StatsCan many of these are folks that were previously self-employed. Your selective data points are skewed by your own bias. There are clearly people unemployed today (obviously from the unemployment rate) but why are they not prepared to fill some of the 1 million vacancies? Unwillingness to re-train? Unwillingness to re-locate? Unwilling to travel? Unwilling to have a windowless office? Obviously a variety of things.Most anyone who wants a job should be able to get one, even if it is a restaurant job. There are vacancies galore here in the hospitality industry. Just not necessarily in the unemployed's preferred choice of work. So what? No one is guaranteed choice.
Retired people and people not looking for work aren’t included. So the number of unemployed( is lower today) , doesn’t mean more are working. If you have an article or statistic about the actual number of employed people, I would like to see or read it. Perhaps I’m mistaken or I’ve missed something.
3:05 pm
October 29, 2017
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This page has several descriptions and definitions for the labour force.
https://www.bls.gov/cps/cps_htgm.htm
Edit: sorry that’s American
3:06 pm
October 27, 2013
Online
Exceeded pre-pandemic (Feb 2020) https://financialpost.com/news/economy/canada-job-gains-blow-past-expectations-more-than-four-times-expectations
Also https://www.adecco.ca/en-ca/employers/resources/employment-jobs-monthly-report-canada/
StatsCan site currently down but link anyway https://www150.statcan.gc.ca/n1/daily-quotidien/211203/dq211203a-eng.htm
People not wanting to work, nor looking for work, are not our concern. Most of them, including retirees, have a number of options to work if they wish too. I can assure you there are thousands of job vacancies here. McDonalds has a big sign out front pleading for workers at a starting wage of $17.50/hr.
3:25 pm
October 29, 2017
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AltaRed said
Exceeded pre-pandemic (Feb 2020) https://financialpost.com/news/economy/canada-job-gains-blow-past-expectations-more-than-four-times-expectationsAlso https://www.adecco.ca/en-ca/employers/resources/employment-jobs-monthly-report-canada/
StatsCan site currently down but link anyway https://www150.statcan.gc.ca/n1/daily-quotidien/211203/dq211203a-eng.htm
People not wanting to work, nor looking for work, are not our concern. Most of them, including retirees, have a number of options to work if they wish too. I can assure you there are thousands of job vacancies here. McDonalds has a big sign out front pleading for workers at a starting wage of $17.50/hr.
Just because the number of jobs and employment rose, doesn’t mean the number of working people is higher, it means the percentage of the labour force that’s employed, is higher. If the labour force decreases in size, the numbers are not so informative.
You should be concerned about people not wanting to work or not looking for work, because they are part of the economy and consume goods and services and use government and social programs. If you want everything to run on all cylinders, you have to look at everything. It all counts in some way.
3:44 pm
October 27, 2013
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FFS, there 19.3 million Canadians working,
Statistics Canada’s monthly Labour Force Survey put the number of working Canadians at 19.3 million, a one per cent increase from February 2020
What part of that do you not understand? Look at information objectively!
People who do not wish to participate in the labour force are on their own. One cannot make them do what they don't want to do. Granted some cannot work so that is what social programs are for.
Getting back to the topic at hand, if current YOY inflation is stretching the budgets of those not working, they have viable options, including part time work, or dipping into those reserves they should have been putting aside in 2020 until the CPI adjustments to count current inflation kick in during 2022. These folk will remain part of the economy regardless at the same level they always have been part of the economy. What you said
You should be concerned about people not wanting to work or not looking for work, because they are part of the economy and consume goods and services and use government and social programs.
makes no logical sense. Nothing has changed whether inflation is 0.1% or 4%. They spend the same.
6:16 pm
October 29, 2017
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This is what I want to show..
https://data.worldbank.org/indicator/SL.TLF.TOTL.IN?locations=CA
6:32 pm
October 29, 2017
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AltaRed said
makes no logical sense. Nothing has changed whether inflation is 0.1% or 4%. They spend the same.
Spends the same amount of money or the same amount of goods and services? I’m quite sure inflation will mean fewer goods and services. Not everyone gets indexed gains on income and not everyone purchases the same basket of goods that CPI is based on. Consuming fewer goods and services means losses somewhere in the line.
7:37 pm
April 6, 2013
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Vatox said
Not sure how you figure there is no evidence..https://www.cbc.ca/news/canada/toronto/food-banks-canada-hungercount-report-1.6226965
…
There is no evidence there either.
The only statistical evidence there is of the increase in food bank use. The cause of the increase is just speculation by Food Banks Canada.
8:13 pm
April 14, 2021
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Norman1 said
Vatox said
Not sure how you figure there is no evidence..https://www.cbc.ca/news/canada/toronto/food-banks-canada-hungercount-report-1.6226965
…
There is no evidence there either.
The only statistical evidence there is of the increase in food bank use. The cause of the increase is just speculation by Food Banks Canada.
Of course, they need to justify their existence. I've contacted my local Food Bank and learnt that they do nothing to show people how to GET OFF needing their services. They just keep handing out food. No attempt at educating users how to save money. Just keep shovelling (predominantly) junk / high-calorie / low nutrition food into hampers. 
9:11 pm
October 21, 2013
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The reasons they give for increased food bank usage are based in reality and should not come as a surprise. In some cases there may be additional reasons, but when you have high inflation and people whose existence was already marginal, you can reasonably expect an increase in usage. That is not hard to figure out.
Please write your comments in the forum.