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lebiez piranaj

Canada Income Inequality: Governments Effective In Softening Wage Gap, Study Says - 2 views

  • Researchers at the Ottawa-based Centre for the Study of Living Standards looked at how much taxes and government benefits helped to even things out between the rich and the poor in Canada over the past three decades
  • They found that taxes and spending have persistently dampened inequality, but not enough to stop the increase in inequality over time
  • before-tax income inequality rose 19.4 per cent over three decades
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  • income inequality was 44 per cent less severe than it would have been if governments had not intervened.
  • Transfer payments – such as old-age benefits or family benefits — were responsible for most of this dampening effect, while taxation accounted for about 30 per cent of the reduction
  • Governments were most active in redistribution of income in 1994, they found. If they had kept up that level of redistribution, they would have eliminated half of the rise in inequality over three decades
  • Canada ranks 24th out of 35 countries in terms of equality in the late 2000s
  • Canada was one of the least active countries in terms of using tax or transfer policy to redistribute income, ranking 25th out of 30 countries.
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    This article talks about how the government is doing very good with reducing the inequality with the tax cuts and all but that they could be more aggressive. It's suggesting that we need a new redistribution plan but mainly focuses on what it counts to be the most important thing in getting rid of the debt, the governments role in all this. Asks questions like what if the government had made different decisions. 
S C

The Enduring Consequences of Unemployment - NYTimes.com - 0 views

  • People who lose jobs, even if they eventually find new ones, suffer lasting damage to their earnings potential, their health and the prospects of their children
  • workers who lost jobs during the recession of the early 1980s were making 20 percent less than their peers two decades later
  • Losing a job also is literally bad for your health
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  • worker laid off at age 40 could expect to die at least a year sooner than his peers.
  • when parents lose jobs. The study followed the earnings of 39,000 Canadian fathers and sons over 30 years beginning in the late 1970s. The study found the sons of men who lost their jobs eventually earned about 9 percent less than the sons of otherwise comparable workers
  • each day without work is a day without income, a drain on savings, an increased chance of default on debts
  • people who can’t find work become more likely as time marches on to suffer from depression and other health problems
  • there is some evidence that unemployment itself makes it harder to find new work, because unused knowledge and skills tend to atrophy
  • study found that unemployed people gradually lost the ability to read
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    Unemployment itself has negative effects on people besides the obvious ones of having less money. People are more likely to become depressed, less likely to retain learned skills and it may even affect their children's earnings.
S C

Youth unemployment: a serious problem in Canada - Yahoo! Finance Canada - 1 views

  • Canadian job market is faring well unless you're a student seeking well-paying summer work or a graduate
  • Canada's total jobless rate currently sits at an acceptable 7.4 per cent. But for those in the 15- to 24-age bracket, the unemployment figure is much higher: 14.7 per cent.
  • Typically, youth unemployment is double that of the national average
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  • the obstacles youth must overcome to finding gainful employment — be it temporary summer work or a permanent position — has never been more daunting.
  • the youth are always the hardest hit and they take the longest time to get out from under the recession impact on employment.
  • There's just not enough (jobs) to go around. So if students aren't out there early and aggressively they won't get one
  • f you've graduated (from college or university) and you want to start paying off your (student loan) debt and get on with your life, it's very difficult to do that on a part-time job."
  • "There's a lot of part-time activity happening but i
  • Parents would've expected their 20-something children to be independent but they're just not able to do that
  • "Hopefully, both parents are working and they're able to stay at home but for a lot of young people that's just not possible."
  • in big cities like Toronto, there are more youth seeking out homeless shelters
  • Job experience tends to be the biggest hurdle for the 15- to 24-year-old age group when it comes to impressing an employer.
  • "There are a lot of youth that are still demanding that they get paid for entry-level work assignments. I think that that is a bad choice for youth.
  • The first couple of jobs they do by way of an unpaid intern gives them a leg up," Parker says.
  • Many of those unpaid intern programs end up as full-time, paying careers for them and every major employer across the country has dedicated unpaid intern programs.
  • Work experience is absolutely critical. No matter what you graduated with, if you don't have real work experience you're going to have a challenge."
  • Meanwhile, there's little help coming from provincial and the federal government these days it seems. Austerity budgets at the both government levels are seeing civil servants laid off.
  • there's no encouragement at this point by the federal government for the private sector to do job creation (for youth).
  • What you study can be the difference
  • If young people choose to go the route of college, they can get excellent job skills and they have a higher placement rate directly from college into work.
  • current and future post-secondary students need to take a hard look at what their course of study is and whether or not it'll lead to employment upon graduation.
  • "When I talk to high school teachers and guidance councillors about the kind of programs being offered to youth talk about 'what's your dream job?' versus educating kids on what jobs will be available to them," she says.
  • Know how to sell yourself
  • the secret to landing a job is in knowing how to sell oneself.
  • "You have to be as competitive as someone who's been in the job market for 10 years," she says. "You've got to know how to do a job search, how to write a résumé, and you need to convince the employer that even though you haven't done a job before that you're a quick-learner and you're creative."
  • *Target respected employers that best matches your skill set
  • *Offer to do free summer work for the sake of gaining experience and don't be picky about what's offered *When applying to post-secondary institutions, choose schools that provide intern programs *Be knowledgeable about where employment demand will be in the future and ensure your skills are also in demand
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    Youth unemployment is high because of little or no job experience, type of major isn't in demand, and not knowing how to sell oneself, which causes problems like 20 year old people living with their parents
Dyena Huynh

Study: Canadian consumer debt hits $26,768, highest in two years - 1 views

  • Canadian consumer debt grew at the fastest pace since the fourth quarter of 2010
  • Bank of Canada Governor Mark Carney has been warning households of its growing debt rate and officials are continuing to caution that household spending levels are starting to get out of control.
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    1. Why do think consumer debt increased so much? 2. They say that getting consumers to spend more will help boost the economy, but is it beneficial when consumers are going into debt?
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    1. i believe consumer debt has increased drastically because the generation is upgrading really quickly with new things, mainly technology and many people want to be caught up with the latest trends whether it is buying the latest iphone, clothing, real estate, buying a car etc. People begin to borrow heavy loans without thinking of a way to pay back therefore causing a big debt to themselves.
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    1. I believe consumer debt has increased greatly due to the need to purchase luxuries and unnecessary goods because we live in a society where we live in a society where you feel incomplete if you do not possess a certain good. 2. I think spending money to a certain point is beneficial because it helps circulate cash, however consumers should not be spending to a point where they cannot pay back debts. Also people can spend money wisely rather on unnecessary and expensive goods.
Cristina Raileanu

Consumer Debt - 6 views

1) again this question is an individual decision, I personally would cut back on my weekly spendings on luxuries, and be happy with, especially if I have something particular I am saving for. Also,...

faseehthemoonman

Mining industry stakes claim as most powerful economic and social force in Queensland |... - 0 views

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    Queensland resources council conducted a study that showed the mineral and energy has once again has increased its economic contribution to the state. resource companies have created 36 billion in gross regional product, due to gas and coal companies. it is a smart decision that auzi started to investing in producing a wide range of commodity resources. since the coal market struck a high. The challenge now is to ensure that there is a strong pipeline of projects across all commodities to sustain and grow the resources.
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    Question Do you think a country like Aus would have more success investing in resources and commodities than Canada?
JJ Igra

Budget watchdog finds average public service job costs $114K - 0 views

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    The average public servant costs taxpayers $114,100 a year in total compensation. "Total compensation (per full-time employee) in the federal workforce outpaced not only CPI (inflation), but also that of the Canadian business sector and provinces and territories over the study period," the report states. Although the government has recently announced new restraint measures that will cut the number of public servants, the PBO estimates that average compensation for salaries and benefits will reach $129,800 in the next three years. Canadian Taxpayers Federation federal director Gregory Thomas said he found some of the numbers "staggering," particularly since average household income growth is in the neighbourhood of one per cent. "This government has been in office for six years, you wonder when are they are going to get serious about controlling payroll costs," he said. Ottawa recently announced it has already shed about 11,000 in the first six months of the program. When the current austerity measures are completed, the public service will decline to 349,000, if Ottawa sticks with the program. "The period between 2012-13 and 2014-15 resembles those of the mid-1990s, as both personnel expenses and federal employment (are) reduced," the report states. "The PBO expects a significant slowdown in personnel expenses, given assumptions about baseline employment." Compensation is expected to continue to grow, although not at the rate of the past 13 years. The report projects that by 2014-15, the average annual compensation for a federal employee will rise to $129,800, a growth rate of 4.4 per cent per annum. That is a few thousand dollars less than would have been the case without the restraint program. The PBO complains, however, as it has in the past, that it has not been given sufficient information about how the restraint program is being implemented, or its impact. "As such, parliamentarians do not have the resources with which to determine areas of priorit
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    Questions: With the government cutting off public servant, how will this effect the distribution on public services provided to Canadians Is there other alternatives the government can consider rather than laying off public servants to decrease the government's expenditure?
Erica Yeo

Canada's income gap widens, report says - Canada - CBC News - 0 views

  • The income gap between rich and poor in Canada widened in the period from 1993 to 2009
  • The average income of the poorest Canadians rose from $12,400 in 1976 to $14,500 in 2009.
  • the gap between the real average income of the richest 20 per cent of Canadians and the poorest 20 per cent widened from $92,300 in 1976 to $117,500 in 2009.
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  • high inequality can diminish economic growth if it means that the country is not fully using the skills and capabilities of all its citizens or if it undermines social cohesion, leading to increased social tensions.
  • high inequality raises a moral question about fairness and social justice.
  • The average income in 1976 was $51,100. By 2009, it had increased by 17 per cent to $59,700, even after adjusting for inflation.
  • 32 per cent of the country's national income would need to be redistributed in order to have complete equality of income.
  • The study found inequality is rising worldwide, but that two countries most similar with Canada in terms of per capita income had narrower gaps. Austria's was 0.265 and Denmark's was 0.232.
Brijesh Patel

Well Educated canadians have no future - 0 views

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    Some 6.4 per cent of Canada's total workforce-1.2 million people-now consists of part-time workers under 30 who wish they could work full time. university-educated Canadians experienced a relative increase in unemployment between 1997 and 2005 and a corresponding dip in relative wages, according to a federal government study. By contrast, those with a college, or even a high school education, managed to improve (or at least maintain) their outlook, relative to other workers. In fact, the only group that experienced a similar relative increase in unemployment during the period were those Canadians without even a high school diploma. Employers increasingly expect workers to pay for their own retirements. That's not easy when you don't have money. A survey by the Bank of Montreal found that only about 10 per cent of Canadians aged 18 to 34 had given any thought to retirement planning. Job security is also increasingly scarce. Stung by the 2009 recession, employers in industries ranging from retail sales to information technology are preoccupied with building a flexible workforce In an effort to close the gap, the federal government is planning to bring in as many as 3,000 foreign skilled workers this year by De-emphasizing the university-educated and focusing instead on welders and electricians. Economists say the market will eventually sort itself out. Wages and benefits in the trades should become more attractive as desperate employers try to woo new workers.
Cristina Raileanu

Province tries to steady natural gas price after spike - Nova Scotia - CBC News - 0 views

  • Energy Minister Charlie Parker said the province wants to diversify its energy sources to include more natural gas, wind, tidal, biomass and hydroelectr
  • The school said it was $400,000 more than they budgeted for.
  • The price dipped again in January. The government said the ultimate goal is to reduce Nova Scotia's dependency on coal and find greener sources of energy to reduce its greenhouse gas emissions by 2030.
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