CBC: Canada added 54,000 jobs last month. Reality: Canada lost nearly 100,000 productive jobs and replaced it with useless jobs

CBC recently published an intentionally vague article over the latest StatsCan report to paint a rosy economic picture for Canada and its government.

What the article ignores is the quality of the jobs over the quantity of the jobs created, instead touting the jobs and employment numbers designed to obfuscate the real facts.

Here are some tidbits from the actual StatsCan report summary that gives a more clear picture of Canada’s economic outlook:

From December 2015 to December 2016, employment increased by 2.0% in the service sector, while it declined by 1.6% in the goods-producing sector.

[…]

In 2016, employment in information, culture and recreation rose by 6.5% (+49,000) […] employment also increased in accommodation and food services (+2.6% or +31,000), construction (+2.0% or +27,000) and wholesale and retail trade (+1.4% or +38,000) […] There were more people employed in finance, insurance, real estate, rental and leasing (+3.5% or +39,000) in 2016. […] employment in natural resources fell 8.3% (-29,000) in 2016 […] In agriculture, employment was down by 4.7% (-14,000) […] The number of workers in manufacturing declined by 3.1% (-53,000).

And the least surprising statistic:

[…] the number of public sector employees increased by 2.0% (+71,000), driven by gains in public administration; information, culture and recreation; and health care and social assistance. The number of private sector employees rose by 1.9% (+222,000), with increases across a number of industries in the service sector.

What the state-run CBC fails to address that many sectors that actually contribute to real growth and wealth have lost a significant number of jobs, and are instead being replaced with service industry and public sector bureaucratic jobs (jobs that ultimately rely on taxpayers’ money to fund their salaries). The public sector and service industries produce no tangible, exportable goods or technology. Shuffling paper money around the country does not lead to true economic growth, contrary to Keynesian theory.

In summary, big government in Canada just got bigger in the past year and shows no signs of stopping.

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Vancouver Passes Tax on Empty Homes, Canadian Annual Inflation Rate Reported at 1.5 percent

Despite the Canadian Press reading more like opinion pieces than objective news nowadays, these two articles are objective enough, and when taken at face value, paint a picture of the government supposedly doing their job.

Annual inflation rate 1.5 per cent in October, in line with expectationshttp://www.thecanadianpress.com/english/online/OnlineFullStory.aspx?filename=DOR-MNN-CP.d6fa08c6972f4982a6d273c258d0dcfd.CPKEY2008111303&newsitemid=39501401&languageid=1

City of Vancouver approves empty homes tax: http://www.cbc.ca/news/canada/british-columbia/city-of-vancouver-approves-empty-homes-tax-1.3853542

1.5% inflation already sounds like B.S. to most Canadians. The government alongside the Bank of Canada does its best accounting to manipulate the numbers so that it gives the impression they know what they’re doing with regards to interest rates. Reality paints an obviously different picture. The cost of housing and rent, excluding some parts of hard hit Alberta, have skyrocketed throughout most of Canada, with double-digit percentage increases being posted in the Toronto and Vancouver areas. The rising cost of groceries ($8 cauliflower?), have been popular water cooler talk, particularly at times when the Canadian dollar hit new lows against the U.S. dollar. Oil, despite trading in the 40 USD range, pegs the cost of gas nowhere near where it should be during similar times in the 1990’s when oil reached a similar level.

This is thanks to even more government intervention in the form of taxes and regulation in the past two decades. Its interference with the free market has lined the pockets of bureaucrats with taxpayers’ money. Trusting the government with its inflation reports is like trusting a mischievous student that wrote his own report card. There’s more intervention in the works that will continue the current trend of bad economic policy: carbon taxes and this new “empty homes tax”.

Rather than addressing the root cause of skyrocketing house prices, that is low interest rates backed by taxpayers’ money through the CMHC which allow banks to lend recklessly, Vancouver has decided to add a new tax. Despite the mayor saying the tax is not a cash grab, like any drug an addict gets his hands on, the government will not be able to let go of the tax so easily, even after a correction in housing prices. It figures any new “sin tax” becomes permanent once their budget revolves around the added income collected from the new tax. Get rid of artificially low interest rates, get government out of the way of the free market, and have prices correct to where they belong. At the moment the only winners to come out of this bubble are the banks and the government. Taxpayers will be left holding the bag.

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