I’ve written a little bit about the importance of tracking underemployment trends, and this is particularly important when those trends diverge from the headline unemployment rate. This graph (12 month moving average of unadjusted monthly data) separates unemployed workers and underemployed workers. In recent years the number of unemployed workers has fallen slowly (partially due to falling labour force participation […]
Read moreToday’s labour force numbers are ugly, there’s no other word for it. Employment down 29,000 jobs.Paid employment (ie. not counting self-employment) down 46,000 jobs. The only reason the unemployment rate held steady (at 6.9%) is because labour force participation fell again: by almost 2 tenths of a point, to just over 66%.That’s the lowest level of labour force participation since […]
Read moreIt was almost too painful to watch: Tim Hudak and top Conservative luminaries kicked off their campaign for the 2014 Ontario election in a Toronto music recording studio. Problem: that studio (like others in the business) is supported in part by recording and production industry grants from the provincial government — exactly the kind of “corporate welfare” that Mr. Hudak […]
Read moreToday we released a new report, Path to Prosperity? A Closer Look at British Columbia’s Natural Gas Royalties and Proposed LNG Income Tax, about liquefied natural gas (LNG ) development in BC, and the public revenues that might be expected. So far, LNG has lacked a real public debate. On one side, we have the drumbeat of the business press with […]
Read moreCapital in the Twenty-First Century by Thomas Piketty (Belknap Press, 2014) is the economics publishing sensation of our times, especially in the United States. Currently the number one seller on the US Amazon web site and widely debated in the “blogosphereâ€, this long book is being favourably compared to the seminal works of Adam Smith, David Ricardo, and Karl Marx […]
Read moreMore than one critic has noted that Russia doesn’t manufacture anything the world wants (a knock that now can be laid against Canada, especially since the dramatic fall of Blackberry and the bankruptcy of Nortel). Think about it: what product (or brand name) does Russia produce which people covet? Cars, smartphones, wine, airplanes, beer, other technological or Internet innovations – […]
Read moreHarold Innis wrote the history of Canada around its succession of staple exports, first to Europe and then to the US. He then wrote the history of empires and civilizations around the succession of media of communications. One of the bridges between these two phases of his work was the study of newsprint as a Canadian staple which supplied the […]
Read moreEarlier this month, I blogged about the At Home/Chez Soi homelessness study prior to the release of its final report. Today I’ve blogged again, this time about the contents of the final report itself. This second blog post, being rather long and nuanced, was written for the Homeless Hub. It can be accessed at this link.
Read moreYet another report, this time by SFU Public Policy Professor Dominique M. Gross, finds evidence that Canada’s Temporary Foreign Worker Program is bad for domestic workers. The report looks at BC and Alberta specifically and concludes that the expansion of the TFW program between 2007 and 2010 resulted in an increase in unemployment levels by 4.8 percentage points in BC […]
Read moreMel Clark, a long time trade negotiator for Canada, passed away on March 14. His Notice of Death in the April 24 Globe and Mail describes him as “an independent and progressive thinker with a strong sense of social responsibility.“ “Mel`s decades of experience in the world of international trade had convinced him that free trade is necessary for the […]
Read moreI have just finished Piketty’s magnum opus which is clearly one of the most important economic books of our time. I am still trying to digest the theoretical argument. Below I provide a link and intro to an important commentary by Tom Palley who argues that Pikkety is too close to the neo classical paradigm re rewards to capital. This […]
Read moreThe Globe and Mail reports that the results of the Workplace Survey have sat on a shelf for two years due to cuts at Statistics Canada and a lack of funding from Employment and Social Development Canada. This, while the Minister for ESDC says that Canada’s labour market information is inadequate and “we need better data”. Perhaps the Minister can spare some of […]
Read moreI’ve had the good fortune to live in France for the past 10 months on a year-long sabbatical and therefore been able to witness firsthand the travails of the Socialist government as it wrestles with the country’s economic woes. Indeed, the unpopularity of president Francois Hollande was exposed a couple of weeks ago after nation-wide municipal elections when his party […]
Read moreHere is Joseph Boyden talking with the Globe and Mail last fall about his novel Orenda: “You look at this novel and you think immigration, who you allow in and who you don’t. The Hurons allow in the ones who ulimately destroy them, because the Huron aren’t perfect either. They need the trade, and how much greed was involved in […]
Read moreMy mother says that when she graduated from high school in 1972, she had two occupational choices: nurse or teacher. Nurse and teacher are still the most popular choices for women entering the workforce. Statistics Canada said that more than 20% of all female university graduates in 2011 were teachers or nurses, unchanged from 1991. Ontario’s Equal Pay Day got […]
Read moreStatistics Canada released their latest job vacancy data today, giving us the three month average ending in January 2014. There were 6.7 unemployed workers for every job vacancy, higher than the past two Januaries. Counting un(der)employed workers gives us a ratio of 14.2 un(der)employed workers for every job vacancy. That’s a lot of workers without jobs. The higher ratio is […]
Read moreJ. King Gordon (b.1900, d.1989) was not a professional economist, though as a Rhodes Scholar he studied philosophy, politics and economics at Oxford while inhaling the Fabianism in the air. He was a progressive and a political activist who deserves to be remembered by us. Twice in his life he was there at the birth of promising, exciting, progress and […]
Read moreAs Armine has pointed out recently, women play a key role in economic recoveries: (She says it so well, I have to quote her directly:) Every recession is a “he-cessionâ€: men lose more jobs than women in a downturn because the first thing to slow is the production in goods-producing industries that are typically male-dominated (mining, forestry, construction, manufacturing). Every […]
Read moreThe current edition of Canadian Dimension magazine has a fascinating series of articles on episodes of economic transition around the world (more of them bad than good in recent times, of course). It’s a very thoughtful & informative collection, and I highly recommend it (and every progressive economist should subscribe to CD, by the way). I wrote the article on […]
Read moreIt is interesting to note that the most recent IMF staff report on Canadian economic issues echoes some key concerns of progressive economists. I have reported these for the Broadbent Institute. As noted in this summary, the IMF report that corporate Canada’s cash hoard is the biggest in the G7 and has been mainly amassed by energy and mining companies. […]
Read moreOn Tuesday, April 8, results of the Mental Health Commission of Canada‘s At Home/Chez Soi homelessness study will be released at an Ottawa press conference. The study followed more than 2,000 participants in five Canadian cities. All were homeless when the study began. Half of them received the Housing First intervention, and half of them did not. Data was collected from […]
Read moreThe Progressive Economics Forum (PEF) will host a Summer School in Heterodox Economics in Vancouver on May 29, 2014, prior to Canadian Economics Association annual conference in Vancouver from May 30 to June 1, 2014. The Summer School is aimed at undergraduate and graduate students of economics or related fields, and working economists in academia, the labour movement and NGOs. […]
Read moreIn 2010, I wrote a blog post in which I suggested that: a) the recession of 2008-2009 would bring on increased homelessness; and b) there would be a lag effect of roughly three to five years. Indeed, I suggested that it would not be until 2014 until the full effect of the recession is seen in terms of homeless numbers. […]
Read moreWhat follows are comments from a roundtable discussion held at the University of Ottawa on February 28, organized by Mario Seccareccia, and which featured participation from Marc Lavoie, Louis-Philippe Rochon, Mario Seccareccia, Slim Thabet and Bernard Vallageas. This is Part 4 of 5 sequential blog entries. – Bernard Vallageas Vice-président de l’Association pour le Développement des Etudes Keynésiennes (France) Ancien membre élu du […]
Read moreAlex Usher, one of Canada’s most well-known post-secondary education pundits, has just written a blog post offering some sober second thought on Minister Kenney’s recent enthusiasm for Germany’s apprenticeship system. Mr. Usher’s blog post can be accessed here.
Read moreWhat follows are comments from a roundtable discussion held at the University of Ottawa on February 28, organized by Mario Seccareccia, and which featured participation from Marc Lavoie, Louis-Philippe Rochon, Mario Seccareccia, Slim Thabet and Bernard Vallageas. This is Part 3 of 5 sequential blog entries. – Mario Seccareccia Professor of Economics, University of Ottawa Editor, International Journal of Political Economy I […]
Read moreWhat follows are comments from a roundtable discussion held at the University of Ottawa on February 28, organized by Mario Seccareccia, and which featured participation from Marc Lavoie, Louis-Philippe Rochon, Mario Seccareccia, Slim Thabet and Bernard Vallageas. This is Part 2 of 5 sequential blog entries. – Louis-Philippe Rochon Associate Professor of Economics, Laurentian University Founding co-editor, Review of Keynesian Economics Co-Director, […]
Read moreWhat follows are comments from a roundtable discussion held at the University of Ottawa on February 28, organized by Mario Seccareccia, and which featured participation from Marc Lavoie, Louis-Philippe Rochon, Mario Seccareccia, Slim Thabet and Bernard Vallageas. Parts 2, 3, 4 and 5 will follow in subsequent blog posts. – Marc Lavoie Professor of Economics, University of Ottawa Co-Editor, European Journal of Economics […]
Read moreMark it in your calendars folks, today, March 25, 2014 is the day that the Canadian labour shortage** myth officially died. (It may, of course, be resurrected as a zombie). Responding to a Parliamentary Budget Office report that refutes the existence of a labour shortage or skills mismatch in Canada, Jason Kenney claims the government never suggested any such thing. […]
Read moreGiven that the 2014 Federal Budget talked a lot about youth unemployment, but didn’t actually do very much, I thought it would be worth going over a few trends for the 20-29 age group. Young workers are usually hit harder by recessions, and this most recent recession was no different. You can see significant spikes in unemployment rates during recessions […]
Read more