Canadian Economy Loses 69,300 Private Sector Jobs in July – Unemployment Rate Increased to 5.7%…


After reviewing the unexpected resignation of Canadian Ambassador to the United States, David MacNaughton, several aspects of the U.S-Canada economic relationship; and the larger political ideological relationship between the far-left in both countries; begins to take a sharper focus.

Justin from Canada has acquiesced to the influence of democrat Speaker of the House Nancy Pelosi, and agreed to postpone any USMCA ratification vote in Parliament until Pelosi gives Justin her approval.  For political purposes, Speaker Pelosi is attempting to stall the USMCA vote in congress, which directly supports China, as long as possible.

When we first reviewed this political quid-pro-quo, we wondered if Justin from Canada was actually willing to hurt his own economy just to assist the political efforts of U.S. democrats.  Unfortunately, the answer is a resounding yes.

OTTAWA—Canada’s unemployment rate rose in July as the economy unexpectedly shed jobs for a second straight month, fueling speculation over a possible Bank of Canada rate cut later this year.

The Canadian economy lost a net 24,200 jobs in July on a seasonally adjusted basis, Statistics Canada said Friday. Market expectations were for a net job increase of 12,500.

Canada’s jobless rate rose to 5.7% in July, up from 5.5% in the previous month. Market expectations were for the jobless rate to remain unchanged at 5.5%

[…] The July jobs report showed the number of part-time jobs declined by 12,600 in July and full-time positions fell by 11,600. The private sector dropped 69,300 jobs, while the public sector added 17,500. (read more)

In relative terms based on the scale of the economy, the loss of 69,300 Canadian private sector jobs, is the equivalent of 700,000 private sector jobs being lost in the United States in a single month.  The scale of the negative economic impact from Justin’s politically motivated economic decision-making is simply stunning.

Meanwhile the growth in both jobs and blue collar wealth/wages amid Main Street USA is booming.  In the same month Canada lost 24,000 jobs, the U.S. gained 164,000 jobs.

Flashback 2017:

The May 1–7, 2017, issue of Bloomberg Businessweek — featuring a picture of Trudeau headlined “The Anti-Trump” — caught President Trump’s attention, according to 4 sources with direct knowledge. Trump tore the cover off the magazine and wrote on it, in silver Sharpie, something to the effect of “Looking good! Hope it’s not true!” according to these sources.  (read more)

In the opaque background of this dynamic, the fingerprints remain visible.

 

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