{"id":30759,"date":"2018-02-09T09:04:00","date_gmt":"2018-02-09T14:04:00","guid":{"rendered":"http:\/\/olduvai.ca\/?p=30759"},"modified":"2018-02-09T09:04:00","modified_gmt":"2018-02-09T14:04:00","slug":"oh-canada-part-time-jobs-crash-most-in-history","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=30759","title":{"rendered":"Oh Canada! Part-Time Jobs Crash Most In History"},"content":{"rendered":"<div id=\"block-zerohedge-page-title\" class=\"block block-core block-page-title-block\">\n<h3 class=\"page-title\"><a href=\"https:\/\/www.zerohedge.com\/news\/2018-02-09\/oh-canada-part-time-jobs-crash-most-history\"><span class=\"field field--name-title field--type-string field--label-hidden\">Oh Canada! Part-Time Jobs Crash Most In History<\/span><\/a><\/h3>\n<\/div>\n<div id=\"block-zerohedge-content\" class=\"block block-system block-system-main-block\">\n<article class=\"node node--type-article node--view-mode-full\" role=\"article\">\n<footer class=\"node__meta\">\n<div class=\"submission-wrapper\"><\/div>\n<\/footer>\n<div class=\"node__content\">\n<div class=\"clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item\">\n<p>The Canadian job market has never lost more part-time jobs &#8211; ever &#8211; than in January&#8230;<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/2018-02-09_5-32-20.jpg?itok=pyt1vVJb\" \/><\/p>\n<p>Canada&#8217;s unemployment rate rose to 5.9% as total job losses for January dropped the most since 2009, but it was the 137,000 collapse in part-time jobs that stands out.<\/p>\n<p>So what is driving this collapse?<\/p>\n<p><u><em><strong>Simple &#8211; Minimum Wage Hikes In Ontario.<\/strong><\/em><\/u><\/p>\n<blockquote><p>Ontario raised the minimum wage 21 percent to C$14 ($11.26), making it the highest in Canada.<\/p><\/blockquote>\n<p><a href=\"https:\/\/www.reuters.com\/article\/us-canada-wages-ontario\/minimum-wage-hike-has-rocky-start-in-canadas-ontario-province-idUSKBN1EX2CN\">And as Reuters reports,<\/a> <strong>the steep minimum wage increase <\/strong>that went into effect on Jan. 1 in Ontario, Canada\u2019s most populous province,<strong>has had a rocky start as some employers cut workers\u2019 hours and benefits to reduce its impact on the bottom line<\/strong>.<\/p>\n<blockquote><p>The provincial government, controlled by the Ontario Liberal Party, positioned it as <strong>a measure to improve the livelihood of workers in Ontario,<\/strong> home to the nation\u2019s largest city, Toronto, and its capital, Ottawa.<\/p>\n<p>Yet some employers responded by<strong> implementing hiring freezes, cutting hours of existing workers, eliminating paid breaks<\/strong> and boosting benefits costs.<\/p><\/blockquote>\n<p>Shocker &#8211; sending minimum wage costs soaring leads to less demand for low-skill employees?<\/p>\n<p><u><em><strong>Will they never learn?<\/strong><\/em><\/u><\/p>\n<p>Of course, some see a silver lining as average hourly earnings jumped 3.3% (vs 2.9% previous month) thanks to the min wage hike, the fastest pace since 2015.<\/p>\n<p>But, it appears the minimum wage hike has sent more people &#8216;out&#8217; of the work force as the<strong> participation rate plunges to its lowest since 1999&#8230;<\/strong><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/2018-02-09_5-40-39.jpg?itok=mSAUrZIS\" \/><\/p>\n<p>As a reminder, The Bank of Canada hiked &#8216;dovishly&#8217; in January&#8230;<\/p>\n<blockquote><p>The BOC also noted that &#8220;while the economic outlook is expected to warrant higher interest rates over time,\u00a0<strong>some continued monetary policy accommodation will likely be needed to keep the economy operating close to potential and inflation on target<\/strong>.&#8221;<\/p><\/blockquote>\n<p>We suspect that hike-trajectory may slow.<\/p>\n<p>The reaction in the Loonie is quite chaotic&#8230;<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/2018-02-09_5-41-43.jpg?itok=ytcJBxYZ\" data-image-external-href=\"\" data-image-href=\"\/sites\/default\/files\/inline-images\/2018-02-09_5-41-43.jpg?itok=ytcJBxYZ\" data-link-option=\"0\"><img decoding=\"async\" src=\"https:\/\/www.zerohedge.com\/sites\/default\/files\/inline-images\/2018-02-09_5-41-43.jpg?itok=ytcJBxYZ\" \/><\/a><\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Oh Canada! Part-Time Jobs Crash Most In History The Canadian job market has never lost more part-time jobs &#8211; ever &#8211; than in January&#8230; Canada&#8217;s unemployment rate rose to 5.9% as total job losses for January dropped the most since 2009, but it was the 137,000 collapse in part-time jobs that stands out. So what [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[942,103,260,2446,4584,1378,18448,18447],"class_list":["post-30759","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bank-of-canada","tag-canada","tag-employment","tag-loonie","tag-minimum-wage","tag-ontario","tag-part-time-employment","tag-wage-hike"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/30759","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30759"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/30759\/revisions"}],"predecessor-version":[{"id":30760,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/30759\/revisions\/30760"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}