Unemployment hits 15-year high in Ontario

Don Dew didn't work at the General Motors truck plant in Oshawa that shut down last month, but he still lost his job.

[North America]

... 15-year high. The sheer number of Ontarians who are out of work has reached 670,700 the highest level ever, noted Erin Weir, an economist with the United Steelworkers. The previous record, 640,400, was set in September 1992. "And the recession is ...
Comment?

Related Topix: Oshawa, ON, Canada, Ontario, North America, Canada, World News, Ajax, ON, Toronto, ON, Windsor, ON

[QUITTNER]

The many people who are now unemployed and their families are cutting back on their buying - what used to be necessities may now be, more or less, luxuries. They still have money, severance pay, maybe some investments, "rainy day" reserves, even funds that were supposed to be left untouched until retirement. Eventually the money will run out, with no more coming in; WHAT THEN?
..... This is a feedback system, and employment correlates with buying; therefore if the unemployed (and others!) buy less, then more and more unemployment will therefore be produced with even more misery - but not quite yet.

[He did it]

Blame it on Obama

[kreepykid]

scary times indeed

[Naturally Wired]

Yes, and all us Newfies were all called welfare bums for years by Ontarians. Shame on you...LOL.

[QUITTNER]

Naturally Wired wrote:

Yes, and all us Newfies were all called welfare bums for years by Ontarians. Shame on you...LOL.

..... 11:29 am, Tuesday, July 14, 2009:
I suppose Nfld. joined Canada in 1949(?) because Smallwood, and many others, realized that Canada would want to help Nfld.- which Canada did. The principle is that provinces should help one another, and that is the basis of the "Equalization" scheme.
..... Given that much of Ontario's elfare depends on the welfare of the automobile sector, which is now in trouble, now Ontario is receiving "welfare" from other provinces.

[DMM]

I do believe things will get better for us in the next year or two. Its a cycle.

[QUITTNER]

2:17 pm, Tuesday, July 21st, 2009:
At present most of the many unfortunate people who lost their jobs apparently still have enough money to live on, but soon they will run out of money - what then? Another sharp drop in the economy's statistics? With all levels of government not having enough taxation money coming in they won't be able to help! Crime may then go up because everybody must have enough food & drinkables to live on?
..... Many will possibly lose their homes because they won't be able to keep paying their mortgage debt, nor any other debt?

[DMM]

QUITTNER wrote:

2:17 pm, Tuesday, July 21st, 2009:
At present most of the many unfortunate people who lost their jobs apparently still have enough money to live on, but soon they will run out of money - what then? Another sharp drop in the economy's statistics? With all levels of government not having enough taxation money coming in they won't be able to help! Crime may then go up because everybody must have enough food & drinkables to live on?
..... Many will possibly lose their homes because they won't be able to keep paying their mortgage debt, nor any other debt?

Yes, it will get worse before it gets better

[fuxk big 3]

who cares about ontario or canada fuckixg arab lovers