Job loss of 19,000 a nasty surprise - CA

[dArKeR]

The Canadian economy shed a surprising 19,000 jobs in August — mirroring the weak labour market in the United States and marking the fourth decline in the past five months — but economists see a rebound in the months ahead.

"This is arguably the weakest jobs report of 2003, reflecting the impact of much slower growth through the spring and summer," said Sherry Cooper, chief economist at BMO Nesbitt Burns Inc.

During that period, the economy was battered by the outbreak of severe acute respiratory syndrome, the impact on the beef industry of a single case of bovine spongiform encephalopathy in Alberta, a rising dollar and a sluggish U.S. economy.

http://theglobeandmail.com/servlet/story/RTGAM.20030906.ujobs0906/BNStory/National/

[Noordam]

1. Probably

"sluggish U.S. economy" is the biggest thing. If the US is not buying things made in Canada jobs are lost.

[baby_bear]

2. I was surprised how bad it is in Canada

I spent August in British Columbia, and I was sadly educated on the hard times Canadians have fallen upon in several sectors. I knew about SARS and tourism - which has really affected an awful lot of folks - but what I didn't know was how hard the beef industry had been hit by the single case of mad cow disease that turned up earlier this year. The U.S. won't purchase Canadian beef now, not because it is believed to be unsafe, but because the Japanese won't buy OUR beef (U.S.) unless we refuse to buy Canada's (because of the mad cow thing).

A lot of diplomatic efforts were being made to rectify this but I'm not sure what has happened, if anything.

I ate a burger while up there, just to be supportive. :9
Also lots of B.C. wine.

s_m