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News seems too good to be true

Published on August 24, 2009
Published on September 9, 2009
Staff ~ The Moose Jaw Times Herald  RSS Feed
Topics :
CIBC World Markets , Moose Jaw

In some circles it has been called the optimistic recession - despite job losses, business closures, falling stock market values and a slow-down in building and oil and gas exploration. Optimism about the future has not died.
That optimism was reinforced recently when the CIBC World Markets report indicated laid off workers are finding replacement jobs in a faster time than in previous recessions.
The average duration of unemployment is 15 weeks, five weeks less than the 1991 recession, and only one week more than pre-recession days.
The report didn't say if the jobs being found are equivalent jobs, better jobs or entry-level jobs far below the skills of the job seekers. In times of recession, a job is a job is a job, unless of course employment insurance pays more.
While the report might be good news in one respect, it doesn't acknowledge the hardships and uncertainties and the feelings of helplessness that result from being laid off, in many cases from long-time employment with the same firm.
Laid off workers sometimes have little choice but to apply for minimum wage jobs, simply to put food on the table, to pay bills, and to maintain some semblance of self-respect and usefulness.
Moose Jaw workers are well aware of the hardship of being laid off. The case in point is the hundreds affected by the supposed temporary closure of XL Beef. How many of those workers found replacement jobs, how many will be available to return to the plant, and how many have simply waited for the plant to open in September as promised?
The CIBC World Markets report was understandably generic, but close to home, one can't help wonder if it accurately portrays what is taking place in this community and region. Is there still reason for optimism in the unemployment line? One can only hope.

Comments

  • Username
    junkyarddog
    - September 18, 2009 at 13:32:43

    Lets wait and see when the bills have to paid for the trillions of dollars that was pulled out of thin air for bailouts and economic stimilus. Perhaps will see some new excuses from our powers at be.

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