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Student Debt: University students borrowing their way into unemployment | Full Comment ... - 0 views

fullcomment.nationalpost.com/...ng-their-way-into-unemployment canada consumer debt
shared by faseehthemoonman on 17 Jan 13 - No Cached
  • probably borrowed money at that — to get themselves a university degree that will prove essentially useless to them the instant they graduate
  • not the fluffy emotional value of making new friends and discovering the joys of binge drinking, but the literal value — how much financial return they can reasonably expect to make on their investment of tens of thousands of dollars.
  • verage level of education debt held by Canadian students upon graduation hover around $27,000 each.
  • ...3 more annotations...
  • low-paid job in the service industry or working for the government
  • The average estimate made by these students as to how much they’ll be making within 10 years, when they’re in their late twenties, was $90,000
  • They are realizing now that their arts degrees might not be enough to land a job, but they’re already paid for
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Consumer Debt: Canadians Focusing On Paying Off Bills, Worrying Less About Retirement - 0 views

www.huffingtonpost.ca/...nada-cibc-study_n_2395618.html consumer
shared by faseehthemoonman on 17 Jan 13 - No Cached
  • Overall, the poll done for the bank by Harris/Decima showed 17 per cent of respondents selected debt reduction as their main priority in 2013
  • Managing day-to-day spending/budgeting came in third, selected by eight per cent of respondents and down from 14 per cent last year
  • At the same time, debt management increased as a priority for that age group to 18 per cent from 14 per cent
  • ...2 more annotations...
  • Having been named the top priority three years in a row, there is an opportunity for more Canadians to turn awareness of debt management into action and outline some clear steps towards paying down their debt in 2013
  • 2,009 adults 18 years of age and over and is considered to have a margin of error of plus or minus 2.2 percentage points 19 times out of 20.
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High unemployment to persist in Canada: analysts | CTV News - 1 views

www.ctvnews.ca/st-in-canada-analysts-1.581245 unemployment canada
shared by faseehthemoonman on 17 Jan 13 - No Cached
  • unemployment rate bobbing within a narrow band 0.1 percentage points above or below eight per cent.
  • unemployment rate will average 7.7 per cent next year and will still be above seven per cent in 2013, long after the economy has returned to normal.
  • rate of joblessness approaches 17 per cent
  • ...4 more annotations...
  • Although Canada has recouped the more than 400,000 jobs that vanished during the downturn, there are still more than 300,000 officially
  • He notes that the biggest hit on jobs since the 2008 crisis has been to manufacturing, warehousing and transportation -- three related industries
  • The new full employment level is likely a rate of about seven per cent, agrees Douglas Porter of BMO Capital Markets, as opposed to six to 6.5 per cent before the recession.
  • According to his forecast, Canada's unemployment rate will reach that level by the end of 2012, when the Bank of Canada estimates the economy will be back at full capacity.
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My Education Has Value » Unemployment not as dire as after past recessions - 1 views

myeducationhasvalue.ca/?p=972 education unemployment canada
shared by faseehthemoonman on 17 Jan 13 - No Cached
  • Young people aged 15 to 24 years are also finding jobs faster than any other age group, the accounting group found. Nearly half of unemployed youth found a job within one to four weeks in 2011, while the average unemployment period was just 11 weeks
  • 5 per cent still jobless after looking for work for a year
  • Youth underemployment is a huge issue.
  • ...2 more annotations...
  • The need to research the causes of underemployment. The need to develop more higher-skilled, higher-wage jobs
  • Greater use of school-employer partnerships to better match employers’ needs and workers’ skills.
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Canada's Economic Future: What Have We Learned from the 1990s? - Bank of Canada - 1 views

www.bankofcanada.ca/...ic-future-what-have-we-learned mail bank canada consumer
shared by faseehthemoonman on 17 Jan 13 - No Cached
  • To conclude, our economy has been expanding robustly over the past five years, inflation has remained low, employment and incomes have been rising. And we are now seeing encouraging signs of a productivity payoff from the restructuring of the past decade
  • faseehthemoonman on 17 Jan 13
     
    "r"
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Economy improving short-term, but future not so bright for Canada: Carney - thestar.com - 1 views

www.thestar.com/...ve-economic-future-carney-says
shared by faseehthemoonman on 17 Jan 13 - No Cached
  • second worst export performance in the G20 group of nations
  • country’s exports of manufactured goods has been cut in half, he said, a large reason why employment in the factory sector has fallen nearly 500,000 jobs.
  • He notes that since the recession, emerging markets have accounting for two-thirds of global growth and one-half of import growth, a trend expected to continue for decades.
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Even Boomers are getting pummeled by student loan debt | Business Insider | Financial Post - 1 views

business.financialpost.com/...-pummeled-by-student-loan-debt boomers student loan business debt
shared by lebiez piranaj on 17 Jan 13 - No Cached
  • Americans over 60 still owe 4.2% of student loan debt, according to the Federal Reserve Bank of New York.
  • Ten per cent of those loans are delinquent, while another 11.2% are in default.
  • Three factors account for the loans: Attending college after high school, going back as an adult, or co-signing for a child’s loans
  • ...10 more annotations...
  • Stay organized
  • The government’s National Student Loan Data System tracks all your federal student loans, making it just a bit easier to stay on top of what (and who) you owe money to
  • See if you qualify for debt forgiveness
  • Have a talk with your lender
  • Consolidate monthly payments
  • consolidating the loans might make things easier—that is, if you don’t choose a predatory service
  • Pay off private student loans first
  • Private student loans almost always have higher interest rates and less repayment flexibility, so it’s best to address them first, says Miranda Marquit, personal finance writer for Yielding Wealth
  • Depending on your professional field, you could qualify to have part or all of your federal student loans erased
  • If you’re having trouble keeping your head above water, just calling your lender could cut hundreds of dollars from your monthly tab
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Consumer debt loads grow at fastest pace in 2 years - 3 views

www.cbc.ca/...transunion-debt-credit.html consumer debt fastest pace
shared by lebiez piranaj on 25 Nov 12 - No Cached
  • Canadian debt loads grew at their fastest pace in two years during the summer
  • Credit reporting agency TransUnion's latest quarterly analysis of Canadian credit trends found average consumer non-mortgage debt jumped 4.6 per cent year-over-year in the third quarter to an average of $26,768
  • Measured on a quarterly basis, debt grew 2.1 per cent in the summer from the second quarter of this year.
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  • Canadian instalment loan borrower debt grew 2.3 per cent over the third-quarter of last year to an average of $22,849.
  • — with inflation as measured by the Consumer Price Index up nine per cent and consumer debt jumping more than 37 per cent.
  • A 11 per cent uptick year-over-year in auto loans to an average of $19,228 was the main driver of the growth in overall debt
  • debt loads have increased 400 per cent more than the rate of inflation
  • Borrowing on lines of credit fell 0.2 per cent year-over year, but grew nearly one per cent since the second quarter of the year and sits at an average of $34,050.
  • delinquency levels — those who are late or default on a loan— continue to remain low across all categories.
  • the number of Canadians missing or defaulting on loan payments fell to pre-recession levels
  • household market debt has risen to 163 per cent of disposable income.
  • "We're moving into the Christmas season so I anticipate we might see another high increase year-over-year when we get to the Q4 numbers
  • lebiez piranaj on 26 Nov 12
     
    1. Despite receiving warnings about Canadian debt issues , it turns out that the average credit card debt has actually decreased by one percent while the year-over-year auto loans are now the main driving force behind the overall growth of our debt, why do you think this is happening? 2. Thomas Higgins, TransUnion's vice-president of analytics and decision services said that he believes the reason why consumers continue to ramp up debt is due to the media spreading overly positive news regarding the economy and throwing the readers into a state false optimism. Do you believe this is the case and why?
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The Second Great Contraction by Kenneth Rogoff - Project Syndicate - 3 views

www.project-syndicate.org/...the-second-great-contraction
shared by Erica Yeo on 17 Jan 13 - No Cached
  • But the real problem is that the global economy is badly overleveraged, and there is no quick escape without a scheme to transfer wealth from creditors to debtors, either through defaults, financial repression, or inflation.
  • but to debt and credit, and the deleveraging that typically takes many years to complete.
  • Many commentators have argued that fiscal stimulus has largely failed not because it was misguided, but because it was not large enough
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  • I argued that the only practical way to shorten the coming period of painful deleveraging and slow growth would be a sustained burst of moderate inflation, say, 4-6% for several years.
    • Erica Yeo
      Erica Yeo on 17 Jan 13
       
      Inflation = Higher wages and hopefully fixed debt. People and businesses will be able to pay off debt more quickly.
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Household debt in Canada - 3 views

www.statcan.gc.ca/...11636-eng.htm consumer debt canada challenges statistics
shared by Erica Yeo on 17 Jan 13 - No Cached
  • In 1980, the ratio of household debt to personal disposable income was 66%; that ratio recently passed the 150% figure (Statistics Canada 2011). This means that, in aggregate, households owed more than $1.50 for every dollar of disposable income.
  • It also examines whether the relationships between debt and financial capability persist when other characteristics like income and educational attainment are taken into account.
  • younger people and parents with children at home were more likely to hold debt. Individuals under 45 made up 45% of the population, but 54% of borrowers. Similarly, married people with children accounted for 30% of the overall population, but 39% of debtors. They were also more likely to have higher levels of debt. Couples with children held one-half of all household debt, with an average debt of $144,600, higher than the overall average of $114,400. Similarly, individuals under 45 held 61% of household debt, $129,200 on average.
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  • Higher education levels were also associated with an increased probability of holding debt and higher average debt. Individuals with at least some postsecondary education comprised about one-half of the population but almost 60% of those with debt. And university graduates had an average debt that was 60% higher than those with less than postsecondary education—$145,400 compared to $90,900.
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Canada must address growing income inequality: Broadbent Institute - 1 views

www.vancouversun.com/...story.html inequality canada income growing poverty address
shared by lebiez piranaj on 17 Jan 13 - No Cached
  • Canada is moving in the wrong direction and must address its extreme and growing income inequality, according to a new discussion paper from the Broadbent Institute
  • affordable housing, improvements to Employment Insurance, “fair” taxes and a national prescription drug program — is needed to address the problem.
  • “It’s not as if we don’t have the wealth, but it’s the distribution of the wealth that really matters.”
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  • between the mid-1990s and the late 2000s, Canada had the fourth-largest increase in income inequality out of 17 peer countries. Canada was ranked 12th out of those countries, a slip to “below the average.”
  • a commitment to equality must come from all levels of government, leadership must come from the feds,
  • There is no “single magic bullet,” to achieve greater equality
  • Most Canadians grew up with the expectations that their son or daughter could be whatever they want to be, whether it’s a hockey player or a brain surgeon … now the reality is, if you want to live the ‘American dream’, you should move to Sweden
  • The federal government has many of the key levers — especially income security programs, a progressive tax system, and transfers to the province — needed to combat inequality,
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Canada's Income Inequality: What Is It, And How Bad? - 1 views

www.huffingtonpost.ca/...lity-by-numbers_n_1545900.html poverty canada income inequality growing
shared by lebiez piranaj on 17 Jan 13 - No Cached
  • income inequality could be “the new global warming.”
  • in the last three decades income for the richest Canadians has increased far faster than it has for the poorest
  • As the income gap widens and rich neighbourhoods become unaffordable for middle- and low-income families, good schools become less accessible
  • ...6 more annotations...
  • As of 2009, the average Canadian family had an after-tax income of $60,000, an increase of 16 per cent from the Canadian average of $52,000 in 1980
  • the top 10 per cent have pulled ahead of the pack
  • The average income that families in the bottom 20 per cent make from employment has decreased by 60 per cent since 1980, whereas the average earnings in the top 10 per cent has grown by 45 per cent
  • Canada’s Gini was estimated to be 0.32 – a middling value
  • More telling is that in the past decade, Canada’s Gini has risen faster than all but five of the OECD’s 34 countries
  • Wilkinson says that as the income gap widens, problems related to social status increase
  • lebiez piranaj on 17 Jan 13
     
    The article talks about how income inequality is increasing in Canada. It talks about how the rich are getting a bigger income over the years then the poor. 
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Suncor Weighing Spending Cuts on Oil Discount: Corporate - Bloomberg - 0 views

www.bloomberg.com/...hing-cuts-on-oil-discount.html cuts oil spending commodities resources
shared by Cristina Raileanu on 17 Jan 13 - No Cached
  • C$11.6 billion ($11.8 billion) oil-sands project the first major spending reduction among Alberta energy pr
  • West Canada Select, traded at a record $42.50 a barrel less than U.S. crude on Dec. 14.
  • C$2.5 billion a month because of the lower prices, according to an estimate by Houston-based investment bank PPHB Securities LP. The discount has helped erode Canadian oil profits and hurt companies’ shares.
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  • Steam Tar
  • ncor Options
  • rom 2011, according to the average of 20 estimates. ‘Train Wreck’
  • Pipeline Opposition
  • ation
  • Narrowing Gap
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Power generated by wind blows past coal output in Ontario - 0 views

www.ottawacitizen.com/...story.html power generated wind coal ontario canada consumer commodities resources
shared by Cristina Raileanu on 17 Jan 13 - No Cached
  • three per cent of the province’s electricity in 2012, compared to 2.8 per cent for coal-generated power. A decade ago, coal-burning plants produced a quarter of the province’s electricity output.
  • Over the noon hour last Friday, for example, wind was generating 1,196 MW of power, compared to 710 MW from coal. A new wind-generation record was set Jan. 4, when 1,663 megawatts (MW) of electricity was produced by wind turbines, concentrated in southwestern Ontario.
  • Nuclear power continues to be Ontario’s chief source for electricity, supplying 56.4 per cent of total output last year, followed by hydro at 22.3 per cent, and natural gas at 14.6 per cent, according to the new IESO figures
  • ...3 more annotations...
  • The closures are expected to put more than 350 people out of work, he said.The Power W
  • “Ontario is spending billions on wind turbines and solar panels supported by natural gas generation to the benefit of big multinational corporations,”
  • “Ontario will not likely meet its greenhouse gas targets because of increased dependence on natural gas generation, green job numbers remain elusive and our electricity prices are on the way to becoming among the highest in North America.”
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Ford confident its hybrid fuel economy numbers will stand up - The Globe and Mail - 0 views

www.theglobeandmail.com/...article7368391 ford hybrid fuel economy canada commodities resources
shared by Cristina Raileanu on 17 Jan 13 - No Cached
  • Cristina Raileanu on 17 Jan 13
     
    This is a article about a new hybrid car, that should work in favor with the spiking of the oil prices.
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Spectra Energy Corp., 2013 Guidance/Update Call, Jan 16, 2013 - Seeking Alpha - 0 views

seekingalpha.com/...idance-update-call-jan-16-2013 energy canada resources commodities consumer debt
shared by Cristina Raileanu on 17 Jan 13 - No Cached
  • for joining us today as we share our 2013 financial plan and business strategy over here with you.
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Ontario close to eliminating coal as electric-power source, a first in North America | ... - 0 views

ca.news.yahoo.com/...er-source-first-231241695.html canada commodities resources
shared by Cristina Raileanu on 17 Jan 13 - No Cached
  • Word that Ontario is nearing its long-promised goal of eliminating coal-fired power plants has gotten a lot of play outside the province in scientific, environmental and power industry publications.
  • by the end of this year the last two large-scale coal-fired generating plants will close, leaving only a small backup facility in Thunder Bay operating until the end of 2014.
  • "Shutting down the last coal plants in Southern Ontario will significantly reduce greenhouse gas emissions and save the province $95 million,"
  • ...5 more annotations...
  • last year that coal, which a decade ago accounted for a quarter of Ontario's electricity, now generates only 2.8 per cent of the total. It's now exceeded by wind power, which provides three per cent. The shift "demonstrates how far we’ve come in terms of t
  • Nuclear power provides more than half (56.4 per cent) of Ontario's electricity, followed by hydro at 22.3 per cent and natural gas at 14.6 per cent, the electricity agency said.
  • "While there’s little respite from rising electricity prices no matter what the source, with renewable energy at least consumers know what they’re paying for," he wrote.
  • So far, none of the Liberal candidates vying to succeed the departing McGuinty are ready to abandon his green-energy policy.
  • Gerard Kennedy promised to review the Green Energy Act.
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Province tries to steady natural gas price after spike - Nova Scotia - CBC News - 0 views

www.cbc.ca/...s-natural-gas-price-study.html natural gas
shared by Cristina Raileanu on 17 Jan 13 - No Cached
  • 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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Canada Natural Resources Minister 'welcomes' Trans Mountain pipeline expansion - Oil & ... - 0 views

www.ogj.com/...untain-pipeline-expansion.html canada natural resources oil gas pipeline mountain expansion
shared by Cristina Raileanu on 17 Jan 13 - No Cached
  • We know that 99% of Canada's oil exports are transported to the US, whose need for imported oil will decline sharply in the coming years
  • In British Columbia alone, resource industries support 100,000 direct jobs. They also make up 13% of its economy and account for 80% of its exports.”
  • KMEP last year announced plans to expand Trans Mountain, which extends from Edmonton to Canada’s western coast, to 850,000 b/d from 300,000 b/d by twinning it and adding storage and pump stations
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Canadian Natural Resources - Home - 0 views

www.cnrl.com canadian resources natural
shared by Cristina Raileanu on 17 Jan 13 - Cached
  • Cristina Raileanu on 17 Jan 13
     
    This is the website for Canadina natural resources
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