Canada Dec job market soars, unemployment rate hits 41-year low

[Blobfish]

Great to see Canada doing so well
Hopefully those bad Fur traders in Nth Canada can get other work now.

Australia unemployment rate is 5.4%

Lots of Infrastructure projects underway in Sydney..
Sydney has the lowest unemployment rate at 4.1%

Trade Qualifications are more highly regarded than University Qualifications.
If you are a Canadian or American Plumber or Electrician or other trades etc..You are probably more than welcome to work down under.

[Zan15]

You are correct in what it may end up with for a total for 2017. But keep in mind, Obama's over all GDP rating is the lowest in history for a President. Trump is off to a good start, but we shall see what it is after he has finished his term (s). If in 2018 he finishes with a 3%, It will be better than any year Obama had.

if if if if.

so far most indicators and the first 3 Q performance are on par with most of Obama's years.

hard not to have one hell of a low GDP rating when you start out your first year from one of the BIGGEST recessions ever caused by a prior administration. Take that out and he is on par with quite a few presidents....but hey...


heck, most people give the first year credit to past presidents since you still are working off their budgets and laws.
based on that principal his first year would be Bushes, and this year would be mostly obama's fault


See you on jan 28th when he fails to exceed 3% like he said he would.

[Independent voter]

Canada is the bug stuck to the US' windshield a '65 Cadillac El Dorado barreling down Route 66 at 100mph. If the US does good, Canada does good.

[Ghostpanther]

if if if if.

so far most indicators and the first 3 months performance are on par with most of Obama's years.

hard not to have one hell of a low GDP rating when you start out your first year from one of the BIGGEST recessions ever caused by a prior administration. Take that out and he is on par with quite a few presidents....but hey...


heck, most people give the first year credit to past presidents since you still are working off their budgets and laws.
based on that principal his first year would be Bushes, and this year would be mostly obama's fault


See you on jan 28th when he fails to exceed 3% like he said he would.

If is something you are also relying on.

Yep, time proves all things. Not predictions or indicators. And He may very well not make the 3% for the whole year. After all, he inherited Obama's crappy GDP pace. lol!

[Zan15]

If is something you are also relying on.

Yep, time proves all things. Not predictions or indicators. And He may very well not make the 3% for the whole year. After all, he inherited Obama's crappy GDP pace. lol!

Well predictions on GDP generally are generally very accurate, or at least accurate enough to know its not going to exceed 4%. But meh.



Trump does not even own the 1st year. Even the few policies he enacted won't go into effect till this year.



Take out obama's first year which is attributed to the prior president and his average is on par with a handful of presidents. Add in this year it looks even better.



But of course people will say i am just making excuses for Obama, even though generally most people who study economics agree on the first year.

[Zan15]

If is something you are also relying on.

Yep, time proves all things. Not predictions or indicators. And He may very well not make the 3% for the whole year. After all, he inherited Obama's crappy GDP pace. lol!

Woops looks like this is an great "i told you so" moment.

2.6% for 4th Q and 2.3 percent for the year.


Guess those "IF's" were very accurate.



You are right however the estimates got it wrong, they went way too high.

Well the current estimates are that the tax plan will give a minor bump in 1Q but he still won't hit 3% for the full year 2018. top end estimates are 2.8% average estimates 2.6%.


See you next year.

[PC2]

The president has very little to do with the economy.

Executive leadership can have a significant effect on economic policy, which then has significant effect on economic performance.

You can only have so many jobs. The United States is almost fully employed, with 4% unemployment.

There isn't a limit to how many jobs there can be beyond the working age population, it depends on policy and the skills of the workforce and how much they can help a business with net income. Or share value for the ones that focus on market size.

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Thanks Obama...

You understand Obama isn't Canadian? If you're going 1-back then Harper came before Trudeau.

[bladeXcrasher]

Blah blah blah all those technical terms! How about Freeish? Free-lite? Pseudo-Free? 9 out of 10 doctors approve of feel good words over technical jargon*1


*1 fabricated feel good statement to enhance an imaginary point

Nothing technical about it, it's a chapter 1 microeconomics lesson. No free lunch.

[Allybeboba]

Saw some guys from Alberta claiming those numbers are fabricated. Much like Americans when opposite party post numbers they are lies and when supported party post numbers they are proof of greatness. Humans suck lol.

This is exactly right.
It is really laughable in 2016 the D’s were claiming 3-5% unemployment with their metrics and the R’s were claiming close to 40% with their metrics.
And in 2018 the roles have been reversed.

Cheers

[Ghostpanther]

Woops looks like this is an great "i told you so" moment.

2.6% for 4th Q and 2.3 percent for the year.


Guess those "IF's" were very accurate.



You are right however the estimates got it wrong, they went way too high.

Well the current estimates are that the tax plan will give a minor bump in 1Q but he still won't hit 3% for the full year 2018. top end estimates are 2.8% average estimates 2.6%.


See you next year.

You was right. I was wrong. But if this year it is only 2.8 tops and 2.6 average, it still will exceed what Obama had. Yep, I hope to still be around this time next year. But life is unpredictable.

[Orange Joe]

In 2016, the unemployment rate in Canada was at around 7 percent.

US unemployment rate is 4.5% or so.

???? Why are you bringing up 2 years ago when op has current numbers?

[Zan15]

This is exactly right.
It is really laughable in 2016 the D’s were claiming 3-5% unemployment with their metrics and the R’s were claiming close to 40% with their metrics.
And in 2018 the roles have been reversed.

Cheers

i think the D's are doing it to make a point about Trumpkins and making it sarcastic. I've yet to see a single democrat make this claim other then to take jabs at Trump and his supporters.

btw there is no "their metrics". Its the same unemployment metric that has been used since the 50's. Trump just chose to include everyone that is not working from ages 16-120 because he is retarded.

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You was right. I was wrong. But if this year it is only 2.8 tops and 2.6 average, it still will exceed what Obama had. Yep, I hope to still be around this time next year. But life is unpredictable.

It will exceed what Obama had overall, but not some of Obama's better years. Obama had 2.9% and 2.6%, 2.5% years.

https://www.thebalance.com/us-gdp-by-year-3305543

Really if you discount the 1 super recession year that he got stuck with his results were not really that bad.

Trump should see a nice bump in 1st Q because of the tax giveaway, after that it becomes harder. Even with the free money, 3% is going to be tough.

[Ghostpanther]

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It will exceed what Obama had overall, but not some of Obama's better years. Obama had 2.9% and 2.6%, 2.5% years.

Not sure where you got those figures from . But this link shows how the real GDP under Obama years compare to the all the Presidents back to Truman and he is dead last. It does not count 2016, but even counting his last year, his record is not going to bring him out of dead last place finish.

https://www.hudson.org/research/1271...h-by-president

And according to this report, Obama's best year was 2.6%. Not 2.9%.

[Zan15]

Not sure where you got those figures from . But this link shows how the real GDP under Obama years compare to the all the Presidents back to Truman and he is dead last. It does not count 2016, but even counting his last year, his record is not going to bring him out of dead last place finish.

https://www.hudson.org/research/1271...h-by-president

And according to this report, Obama's best year was 2.6%. Not 2.9%.

ummm its right in the link i posted.


But you are right 2.6% is final 3rd adjusted figure that everyone quotes and was reported.


They do adjust for several things that is why its listed as 2.9% and trump is 2.6% even though trumps full year reported number was 2.3% and obama was 2.6%



Keep in mind when reviewing this history that the Bureau of Economic Analysis measures GDP in two ways. Nominal GDP is total U.S. economic output for that year. Real GDP takes out the effect of inflation. The BEA uses it to calculate the GDP growth rate and GDP per capita. Experts use nominal GDP to compare GDP to the U.S. debt, which is also not adjusted for inflation. To see the debt to GDP ratio since 1929, go to National Debt by Year.

[Ghostpanther]

ummm its right in the link i posted.


But you are right 2.6% is final 3rd adjusted figure that everyone quotes and was reported.


They do adjust for several things that is why its listed as 2.9% and trump is 2.6% even though trumps full year reported number was 2.3% and obama was 2.6%



Keep in mind when reviewing this history that the Bureau of Economic Analysis measures GDP in two ways. Nominal GDP is total U.S. economic output for that year. Real GDP takes out the effect of inflation. The BEA uses it to calculate the GDP growth rate and GDP per capita. Experts use nominal GDP to compare GDP to the U.S. debt, which is also not adjusted for inflation. To see the debt to GDP ratio since 1929, go to National Debt by Year.

Sorry, I did overlook your link.

But even using your link, it is easy to see Obama's overall performance was not stellar by any means. Trump's final average of course is yet to be seen. Having just been in office one year and his Tax cut only going into effect this year, time is required to see how well he performs when it comes to the GDP.

[Zan15]

Sorry, I did overlook your link.

But even using your link, it is easy to see Obama's overall performance was not stellar by any means. Trump's final average of course is yet to be seen. Having just been in office one year and his Tax cut only going into effect this year, time is required to see how well he performs when it comes to the GDP.

No doubt but take out the first year, which if you are not a total obama hater, was an exceptional outlier of a year that really should not even be considered part of his performance just as this full year should not be counted for trump.

even without that year he is still below average but not as horrible considering the GDP average

its interesting almost every chart has post ww2 even though the data is available for GDP before that.... if we were going to really look at obama's performance vs past presidents we should be looking at presidents during recessions vs his performance

.

[Sunseeker]

Mein Gott! Real news from Tennisface!? What madness is this!?

[Seranthor]

https://www.reuters.com/article/cana...-idUSL1N1OZ1KI

Wow that's crazy impressive.
With this it will likely be a cakewalk for PM Trudeau to get re elected.
Gotta imagine an interest rate hike is coming as well.

5.7 you say? Bless your heart, How adorable. In the 504 months since Jan 1976 (I'm being fair) the US unemployment rate has been at or below 5.7% for 219 of those 504 months, including stretches of 33 consecutive months at or below 5.7; 37 consecutive months at or below 5.7; 51 consecutive months at or below, and even a stretch from May 1995 to March 2002 (thats 83 consecutive months) at or below.

For the Record, the US unemployment rates is 4.1% and has been at or below 5.0% since September 2015.

Those are the facts.

[arandomuser]

The economy is only doing so good because of quantitive easing and very low interest rates on printed money, it has little to do with current fiscal policy of either trump or trudeu, if federal reserve ever raises interest rates you can expect a major market correction or even crash, and currently its not sustainable to keep them so low unless you plan to never fix the deficit or balance the budget. and this was set about 10 years ago when the crash happened.

[Seranthor]

In spite of trump would be the better statement. After all he passed one whole bill in his (nearly) a year. What impact it'll gave is anyones guess. Does Canada include part time jobs in their jobs report or just full time like the U.S?

Trump doesn't pass the bills, that is the job of the legislative branch. However, lets give you a pass and focus on the number you are quoting... Sure, one, if you ignore the other 116 bills he's signed.

As far as what is counted, in the US, you might want to check those facts as well.