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Op-Ed: Canada's unemployment woes grow as more people lose jobs

By Jane Iwenofu     Apr 9, 2009 in World
Canadabusiness.com reports that the economy made a total of 61,300 job cuts in March, and that the loss brings the official unemployment rate to 8 per cent, the worst its ever been in seven years.
There is also a statement made in the report that for several years, manufacturing continued to be among the weakest sectors, cutting a total of 34,000 workers in the past month. With all these looming job losses, the biggest concern here is how long will it take for people who have lost their jobs to get back on their feet, and how fast can the economy recover?
Statistics Canada reports show that since October of last year, a total of 387,000 full time jobs were lost while a total of 30,000 new jobs were gained in the part time branch.
According to Stats Canada, the losses last month were widespread across a number of industries, mostly in these sectors: Manufacturing, finance, insurance, real estate/leasing, construction and natural resources.The sectors which evidently showed more gain were business, building, and other support services.
The burning question is what can be done to redeem families whose livelihoods have been threatened due to all the losses? That is an answer we will be waiting to hear from the nation's economists and government officials as these rising problems will create more and more dependence on the social system.
Of course, the faster our economic issues improve, the better it will be for the country as we do not want the "brain drain" effect to occur with highly skilled and intelligent individuals looking to migrate to areas with higher opportunity.
This opinion article was written by an independent writer. The opinions and views expressed herein are those of the author and are not necessarily intended to reflect those of DigitalJournal.com
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