Latitudinal Headlines

Macroeconomic Mysteries

    I generally ignore contemporary issues, particularly economic ones. I did notice, however, these two contrasting headlines on the same day. The first is from the north side of the 49th parallel and the second from the south side.

1. "Canada Lost 31,000 Jobs Last Month,  the Second Straight Monthly Decline," Pete Evans, CBC, August 5, 2022.

2. "U.S. Economy Blows Past Expectations By Adding 528,000 Jobs in July," AP, Aug. 5, 2022.

   There are other economic mysteries. Here in London the unemployment rate rose to 6.1% in July, even though employers are having a difficult time finding employees. How can there be so many "Help Wanted" signs and so many unemployed? One reason may be that those seeking jobs do not have the skills required to perform them. Another is that apparently many people do not want to work. Who does? The biggest mystery to me is how those who have chosen to remain idle, make ends meet.

Sources:

   "Jobs Aplenty, But Unemployment Rising. What Gives in London?" Jonathan Juha, LFP, Aug. 5, 2022.