Employing to a Better Economy

Summary of the Event

Over the course of February, Canada experienced over the top gains in employment. The availability of 15,000 jobs was expected, so it came as a surprise when the net gain in employment was 19,200 jobs. The increase of 60,000 full-time employment jobs during February offsets the 39,000 losses in jobs that occurred in the previous month. The food service, natural resources and manufacturing industries had shown the most increases in employment. Whilst retail, finance and investment, insurance, real estate and housing industries had shown the most decreases in employment.

Cause-Effect Predictions (Positive Economic Statement)

The unemployment rate in Canada reduced to 8.2 percent, as a result of increases in jobs. Full-time employment has been responsible for Canada’s economic growth since last summer as full-time workers have a greater capacity to spend money in the economy relative to those who work part-time. Increase in employment is heavily reliant on the public sector, the part of the economy in which the government has influence over, as such the government will have to deal with the increasing budget deficits.

Personal Opinion (Normative Statement)

The government should play less of a role in increasing public sector jobs as to reduce increasing budget deficits, which is the excess of expenditures over revenue. The government should also provide incentives for the private sector of the economy, profit oriented businesses seeking personal gain, to increase employment.

MY AMAZING OPINION (What Should Happen)

Governments should provide and advocate for the increase of employment in the private sector of the economy. This suggestion should be implemented, because in February, there were 7,500 losses in jobs, which suggests that businesses are hesitant to reabsorb the labour capacity this country has to offer. The private sector of the economy had lead to the betterment of financial reforms, the usage of more advanced technology and increased knowledge for the working class. The public sector of jobs also has a higher turnover rate for employment, compared to that of private sector jobs. As such to keep the unemployment rate as low as possible, the Canadian government should play less of a role in the employment of work.

Abma, Derek . "Canada gains 20,900 jobs in February." National Post 12 Mar. 2010: 1. Web. 11 Mar 2010. .