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Unemployment Rate Jumps

By 250 News

Thursday, April 09, 2009 08:35 AM

Prince George, B.C.- Bad news today on the unemployment front.
 
The latest stats are the worst this region has experienced since 2005. 
 
March unemployment rate in Prince George was 9.4 % , it had been 6.7% in March of last year.
 
The Cariboo region saw a 3.2% jump to 10%, Provincially the rate climbed 3 points to 7.4% and the National rate is now 8%, up from 6.1%   for the same period last year.

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Unfortunately, we struggle as a nation through the tough economic times. Fortunately, we are strong resilient people. I think the real number is in the low teens. There is a lot of people out there looking for work with their EI runned out.
Usually high unemployment levels for a certain area also indicate the unwillingness of the individuals, in that area, to relocate to places where there is work. That unwillingness can be attributed to a few things, for example family attachments, or one spouse continues to work, while the other is unemployed, or just plain laziness.

I wonder how much of that is laziness, for the unemployment level in this region? In the past few years, I've heard more people complaining about the lack of work, and when I ask if they've looked elsewhere, the reply indicates that, first, I should violate myself, then, that it's not up to them to move; it's the fault of the current government, and that IT should do something for them.

So the down-slide continues. Where will it end?
Good Example: for myself and my family I contiue to work into town and take care of my children while we have to be with out my Husband for four days of the week because he was able to get work out of town. We are not "happy" with this but at least we are both working and providing for our Family and one day we hope that we'll all be living and working in the same town again!! To people who won't do this shame on you for being selfish and "demanding" that the jobs be where you live. cause this just isn't going to happen an more!
I agree He spoke, the unemployment rate in the region is higher than that posted, probably some where in the mid to high teens and climbing.
I find it very hard to understand how anyone for even an instant can perceive that the reason for the high unemployment rate in the region is because of laziness or home bodied people. As it stands right now people have been moving to the Prince George and the surrounding areas looking for work, if they do not find work, guess what? the unemployment rate will climb. The rate undeniably will fall as the EI runs out or because people have found work but keep in mind the rate should also include those who are going to end up on welfare. How high would the rate be with these numbers included?
A good portion of the people being labeled have probably already lost their homes, their savings and now are being labeled as "Lazy & Home Bodies" who are unwilling to leave home to find work. The unemployment rate stems from a lack of jobs, not "because people are to lazy" to find work.
The only reason we are in the situation we are in today is because of very poor lending practices by the big banks of the world, poor decisions made on Wall street and very poor government decisions and lack of action world wide, just to name a few. The world financial infrastructure is lined with people, including the governments of the world, who practice greed and corruption as their own personal religion. They have lined their own personal pockets at the expense of the little guy, these are not my words guys, this is coming from the bowels of the the financial system itself.
Does any of this implicate the common Joe on the street as being lazy?...NO. It does however paint a very clear and true picture of the Banks, Lending institutions and our own Political representatives of our region and through out the world for that matter doesn't it. The governments of the world bailed out just about every Bank, Car Manufacturer and Insurance corporations they could to mention a few. Did they help the people that were going into foreclosure or bankruptcy?...No. Do you think the bail outs happened because they were concerned about the little guy on the street who just lost a job?...Not likely. The bail outs occurred because these are the big players that control the world economy along with the system that is used to drive the said economy. This system has failed us all in the past and has once again. The complete system has been labeled as being fatally flawed by many financial players of the world who have the intestinal fortitude to stand up and speak their mind. The people who drive it have also been labeled by their own as being flawed and corrupt, this system needs to be changed. So why would we not want to change it. The answer is very simple "Power and Money". Who controls the world economy?....Banks, Governments, Oil Barons, Lending Institutions etc? Those who control the world economy will continue to screw up unless the whole structure is changed. Do we want to look the other way or do we want to change this world into a better place to live for all of mankind?
We do have a choice, which choice are we going to make right now?...remember, a lack of action does not fix anything, instead what in actions brings is a repeated experience of these same hard times over and over again.
The cause of the problems in the USA are mainly because of the sub prime mortgage crises.

This crises was caused by banks and mortgage companies lending money to individuals who should never have been allowed to borrow the money, because of their limited earnings, or their credit ratings.

By lending money to these high risk individuals, they were able to create a huge demand for new houses in the USA, and of course this created a need for all the paraphanalia that goes into a house, and this created a boom in the US economy.

As a result of the demand for lumber to build these houses in the USA, Canadian Lumber producers went to three shifts, and worked seven days per week. Times were good, and money was being made.

The predictable outcome came a number of years later when ***surprise*** the high risk borrowers couldnt make their mortgage payments, and house values started to fall. Banks started to forclose, and people were put out on the street. Millions of houses became available in the US market. With all these houses now available on the market, and no more people taking out new mortgages, the lumber market in Canada went through the floor and into the basement.

Lumber companies in Canada and the USA closed mills, reduced shifts, laid off employees, and of course this created more houses on the market, and less need for new homes.

We will not get out of this fiasco for years to come, however we have to be sure that we blame all concerned, and not just the banks and mortgate companies.

When the bank lends you money knowing that you will not be able to make your payments , and you accept this money knowing that you will never be able to keep up the payments, then we have two people who are at fault, and about as close as you can get to committing a criminal act, without doing so.

You reap what you sow, and thats what we are now doing.

Dont expect the people who are fiscally responsible to bail out those who took advantage of the system and caused all this grieve.



Prince George did well until now considering we normally are the first to have a high unemployment during past recessions.