{"id":12706,"date":"2021-08-09T13:13:47","date_gmt":"2021-08-09T13:13:47","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/08\/09\/postmortem-low-wage-workers-are-being-left-behind\/"},"modified":"2021-08-09T13:13:47","modified_gmt":"2021-08-09T13:13:47","slug":"postmortem-low-wage-workers-are-being-left-behind","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/08\/09\/postmortem-low-wage-workers-are-being-left-behind\/","title":{"rendered":"Postmortem: Low-wage workers are being left behind"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\">\n<h2 class=\"visually-hidden\">Breadcrumb Trail Links<\/h2>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\"> Economy <\/li>\n<\/ol>\n<\/nav>\n<div class=\"article-meta\">\n<div class=\"published-by\">\n<p>Author of the article:<\/p>\n<p> <span class=\"published-by__author\">Kevin Carmichael<\/span> <\/div>\n<div class=\"published-date\">\n<p>Publishing date:<\/p>\n<p> <span class=\"published-date__since\">Aug 09, 2021<\/span> \u00a0\u2022\u00a0 <span class=\"updated-date__since\">43\u00a0minutes ago<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">5 minute read<\/span> \u00a0\u2022\u00a0 <span>  <span class=\"comment-bubble\"> <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" height=\"16\" viewbox=\"0 0 24 24\" width=\"16\"><path d=\"M4,0 C2.93914,0 1.921718,0.421428 1.171572,1.171572 C0.421428,1.921718 0,2.93914 0,4 L0,24 L3.846,20.158 L4,20.16 L20,20.16 C21.0608,20.16 22.0782,19.73858 22.8284,18.98842 C23.5786,18.23828 24,17.22086 24,16.16 L24,4 C24,2.93914 23.5786,1.921718 22.8284,1.171572 C22.0782,0.421428 21.0608,0 20,0 L4,0 Z M2,4 C2,3.46956 2.21072,2.96086 2.58578,2.58578 C2.96086,2.21072 3.46956,2 4,2 L20,2 C20.5304,2 21.0392,2.21072 21.4142,2.58578 C21.7892,2.96086 22,3.46956 22,4 L22,16.16 C22,16.69044 21.7892,17.19914 21.4142,17.57422 C21.0392,17.94928 20.5304,18.16 20,18.16 L4,18.16 L3.048,18.126 L2,19.174 L2,4 Z\"\/><\/svg><\/span> Join the conversation  <\/span> <\/div><\/div>\n<figure class=\"featured-image\"><picture class=\"featured-image__ratio featured-image-category__economy\"><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">Canada gained 94,000 positions in July, a solid result that was nonetheless well short of what most Bay Street forecasters had anticipated.<\/span> <span class=\"credit\">Photo by Reuters\/Chris Wattie\/File Photo<\/span> <\/figcaption><\/figure>\n<\/header>\n<section class=\"article-content__content-group\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p data-async=\"\">Financial Post columnist Kevin Carmichael, editor of the\u00a0FP Economy\u00a0newsletter, unpacks the week in economics.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group\">\n<section class=\"ad\">\n<h2 class=\"visually-hidden\">Advertisement<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-2\">\n<div class=\"ad__inner__container\" data-ad=\"[[6,6],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"6x6\" data-ad-loc=\"2\" data-ad-mobile=\"[[6,6],[320,50],[300,50],[300,250],[300,600]]\" id=\"ad-2\" style=\"--desktopHeight:250px;--mobileHeight:600px\">\n<div class=\"ad__placeholder\">\n<p> This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<h2><strong>Macklem\u2019s dashboard<\/strong><\/h2>\n<p><span style=\"font-size: 16px;line-height: 19px\"><strong>The July Labour Force Survey<\/strong> was a reporter\u2019s nightmare. There was no obvious way to frame it. Good? Bad? You could have gone with either. We typists dislike coin flips. It means there is a 50 per cent chance someone will yell at us for getting the story wrong.<\/span><\/p>\n<p data-async=\"\"><span style=\"font-size: 16px;line-height: 19px\">Statistics Canada <strong>reported<\/strong> on Aug. 6 that employers added some 94,000 last month, an outstanding result in normal times. <\/span><\/p>\n<p><span style=\"font-size: 16px;line-height: 19px\">But these aren\u2019t normal times. Most of the professional forecasters on Bay Street had advised their clients to expect a number closer to 150,000. They assumed the end of the third wave of COVID-19 infections would bring another off-the-charts reading. (The economy created more than 230,000 positions in June.) It was a pretty big miss, so the headline number was actually a disappointment for some people.<\/span><\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group\">\n<section class=\"ad\">\n<h2 class=\"visually-hidden\">Advertisement<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" id=\"ad-3\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div class=\"ad__placeholder\">\n<p> This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p data-async=\"\"><span style=\"font-size: 16px;line-height: 19px\">The potential for misdirection by the top-line data is why Bank of Canada Governor <strong>Tiff Macklem<\/strong><strong>said<\/strong> he will be watching more indicators than usual to get a handle on where the economy is headed. Statistics Canada reported that the unemployment rate dropped to 7.5 per cent last month from 7.8 per cent in June. Pre-COVID, that would have been a good indicator to assess the trajectory of interest-rate policy. But these days, Macklem cares at least as much about <strong>the employment rate<\/strong>, which measures the percentage of the entire population that is employed. That number edged up to 60.3 per cent from 60.1 per cent the previous month, but was still well short of its pre-pandemic level of about 62 per cent.<\/span><\/p>\n<p><span style=\"font-size: 16px;line-height: 19px\">Macklem also is watching the \u201c<strong>underutilization rate<\/strong>,\u201d which Statistics Canada calculates by combining the number of job searchers with its tally of people who are working less than half of their usual hours; who say they would like to work but have stopped looking; and who are temporarily laid off. That figure dropped to 14.4 per cent in July, the lowest since the pandemic began. Alas, the underutilization rate was only 11.4 per cent in February 2020. We\u2019re still a long way from home.<\/span><\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group\">\n<section class=\"ad\">\n<h2 class=\"visually-hidden\">Advertisement<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-4\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"4\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" id=\"ad-4\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div class=\"ad__placeholder\">\n<p> This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<figure class=\"embedded-image\"><picture class=\"embedded-image__ratio\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i2.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_the-other-jobless-rates-august-1.png?quality=90&strip=all&w=288&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i2.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_the-other-jobless-rates-august-1.png?quality=90&strip=all&w=288&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i2.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_the-other-jobless-rates-august-1.png?quality=90&strip=all&w=288&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i2.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_the-other-jobless-rates-august-1.png?quality=90&strip=all&w=288&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i2.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_the-other-jobless-rates-august-1.png?quality=90&strip=all&w=288&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i2.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_the-other-jobless-rates-august-1.png?quality=90&strip=all&w=288&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i2.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_the-other-jobless-rates-august-1.png?quality=90&strip=all&w=288&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i2.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_the-other-jobless-rates-august-1.png?quality=90&strip=all&w=288&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i2.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_the-other-jobless-rates-august-1.png?quality=90&strip=all&w=288&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i2.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_the-other-jobless-rates-august-1.png?quality=90&strip=all&w=288&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i2.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_the-other-jobless-rates-august-1.png?quality=90&strip=all&w=288&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"\" class=\"embedded-image__image lazyload\" fifu-data-src=\"https:\/\/i2.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_the-other-jobless-rates-august-1.png?quality=90&strip=all&w=288&ssl=1\" srcset=\"https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_the-other-jobless-rates-august-1.png?quality=90&strip=all&w=288,\n                https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_the-other-jobless-rates-august-1.png?quality=90&strip=all&w=576 2x\" height=\"820\" loading=\"lazy\" width=\"1000\"\/><\/picture><\/figure>\n<p><span style=\"font-size: 16px;line-height: 19px\"><strong>Statistics Canada counted 18.9 million workers<\/strong> in July, 246,400 fewer than in February 2020. <\/span><\/p>\n<p><span style=\"font-size: 16px;line-height: 19px\">But the Bank of Canada reckons the real gap is wider than that. Macklem said in July that adjusted for population growth, the economy would need to create another 550,000 jobs \u2014 more than were generated in all of 2019 \u2014 before he would be satisfied that the recovery was complete. That suggests the central bank intends to keep plenty of stimulus in the system at least until employment rises to 19.3 million, which is 2.1 per cent higher the current level.<\/span><\/p>\n<p><span style=\"font-size: 16px;line-height: 19px\">But Macklem\u2019s definition of recovery is more complex than that. The governor has repeatedly expressed his desire to get everyone back to where they were before the pandemic. That\u2019s why he\u2019s digging deeper than the headline numbers.<\/span><\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group\">\n<section class=\"ad\">\n<h2 class=\"visually-hidden\">Advertisement<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-5\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"5\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" id=\"ad-5\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div class=\"ad__placeholder\">\n<p> This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p><span style=\"font-size: 16px;line-height: 19px\">One of the metrics that the central bank is watching is youth unemployment. The chart below tracks the rate of change in employment of young men, young women, and older workers since the start of the pandemic. Young men have caught up with the majority of the working population, but young women continue to feel the brunt of the COVID-19 crisis.<\/span><\/p>\n<figure class=\"embedded-image\"><picture class=\"embedded-image__ratio\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_youth-unemployment.png?quality=90&strip=all&w=288&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_youth-unemployment.png?quality=90&strip=all&w=288&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_youth-unemployment.png?quality=90&strip=all&w=288&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_youth-unemployment.png?quality=90&strip=all&w=288&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_youth-unemployment.png?quality=90&strip=all&w=288&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_youth-unemployment.png?quality=90&strip=all&w=288&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_youth-unemployment.png?quality=90&strip=all&w=288&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_youth-unemployment.png?quality=90&strip=all&w=288&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_youth-unemployment.png?quality=90&strip=all&w=288&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_youth-unemployment.png?quality=90&strip=all&w=288&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_youth-unemployment.png?quality=90&strip=all&w=288&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"\" class=\"embedded-image__image lazyload\" fifu-data-src=\"https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_youth-unemployment.png?quality=90&strip=all&w=288&ssl=1\" srcset=\"https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_youth-unemployment.png?quality=90&strip=all&w=288,\n                https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_youth-unemployment.png?quality=90&strip=all&w=576 2x\" height=\"865\" loading=\"lazy\" width=\"1000\"\/><\/picture><\/figure>\n<p data-async=\"\"><span style=\"font-size: 16px;line-height: 19px\"><strong>Leah Nord of the Canadian Chamber of Commerce<\/strong><strong>told the Financial Post\u2019s Bianca Bharti<\/strong> that she\u2019s worried that hiring slowed in July because employees abandoned industries such as hospitality and tourism during the lockdown. Brendon Bernard, an economist at Indeed, a digital hiring platform, <strong><a data-evt=\"click\" data-evt-typ=\"User Interaction Click\" data-evt-val=\"{\" control_fields=\"\" source=\"\" type=\"\" name=\"\" target=\"\" url=\"\" vertical=\"\" position=\"\" pixels=\"\" link=\"\" href=\"https:\/\/twitter.com\/BrendonBernard_\/status\/1423648783703973891?s=03\" rel=\"noopener noreferrer nofollow\">tweeted<\/a><\/strong> that a big drop in temporary employment suggests the \u201cquick wins\u201d could be over. In other words, the remaining climb to pre-pandemic conditions could be harder than it looks.<\/span><\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group\">\n<section class=\"ad\">\n<h2 class=\"visually-hidden\">Advertisement<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-6\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"6\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" id=\"ad-6\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div class=\"ad__placeholder\">\n<p> This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p data-async=\"\"><span style=\"font-size: 16px;line-height: 19px\">Here\u2019s one of our favourite charts. It tracks the rate of change in employment in four wage brackets and shows that the highest earners have had a pretty good crisis, while those who make $20 per hour of less continue to languish. The chart is a snapshot of how the pandemic has exacerbated wealth inequality and a graphic demonstration of <strong>why policy-makers are putting economic growth ahead of worries about inflation<\/strong>.<\/span><\/p>\n<figure class=\"embedded-image\"><picture class=\"embedded-image__ratio\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_employment-by-wage-group-4.png?quality=90&strip=all&w=288&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_employment-by-wage-group-4.png?quality=90&strip=all&w=288&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_employment-by-wage-group-4.png?quality=90&strip=all&w=288&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_employment-by-wage-group-4.png?quality=90&strip=all&w=288&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_employment-by-wage-group-4.png?quality=90&strip=all&w=288&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_employment-by-wage-group-4.png?quality=90&strip=all&w=288&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_employment-by-wage-group-4.png?quality=90&strip=all&w=288&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_employment-by-wage-group-4.png?quality=90&strip=all&w=288&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_employment-by-wage-group-4.png?quality=90&strip=all&w=288&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_employment-by-wage-group-4.png?quality=90&strip=all&w=288&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_employment-by-wage-group-4.png?quality=90&strip=all&w=288&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"\" class=\"embedded-image__image lazyload\" fifu-data-src=\"https:\/\/i0.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_employment-by-wage-group-4.png?quality=90&strip=all&w=288&ssl=1\" srcset=\"https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_employment-by-wage-group-4.png?quality=90&strip=all&w=288,\n                https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_employment-by-wage-group-4.png?quality=90&strip=all&w=576 2x\" height=\"785\" loading=\"lazy\" width=\"1000\"\/><\/picture><\/figure>\n<h2><strong>Child care cometh<\/strong><\/h2>\n<p data-async=\"\">Prime Minister Justin Trudeau and Quebec Premier Fran\u00e7ois Legault <strong>announced<\/strong> on Aug. 5 that they had agreed on a no-strings-attached transfer of $6 billion over five years to Quebec City from Ottawa under the auspices of Trudeau\u2019s $30-billion effort to cajole the provinces and territories into providing child care for $10 per day. Six provinces have signed up since Finance Minister Chyrstia Freeland announced the program in her April budget.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group\">\n<section class=\"ad\">\n<h2 class=\"visually-hidden\">Advertisement<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-7\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"7\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" id=\"ad-7\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div class=\"ad__placeholder\">\n<p> This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p>The holdouts: Alberta, Saskatchewan, Manitoba, the Northwest Territories, Nunavut, Ontario and New Brunswick. There are a lot of Conservative governments in that group, so it\u2019s possible that politics are getting in the way of a program that would increase labour participation rates, boost the wages of early-childhood educators, stoke construction by expanding daycare spaces, and strengthen the odds that children are properly stimulated at perhaps the most important stage of human development.<\/p>\n<p data-async=\"\">Rebecca Schulz, Alberta\u2019s minister of children\u2019s services, <strong>grumbled<\/strong> that her province had asked for the deal that Quebec got and was denied. The difference, of course, is that Quebec has offered heavily subsidized child care since the late 1990s and parents there already pay less than Trudeau\u2019s $10-per-day target. Alberta has no such system in place and its unsteady politics provide little confidence that its leaders could be trusted to deploy a big transfer as Parliament intended when it approved the budget bill.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group\">\n<section class=\"ad\">\n<h2 class=\"visually-hidden\">Advertisement<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-8\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"8\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" id=\"ad-8\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div class=\"ad__placeholder\">\n<p> This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p>There\u2019s reason to think some of the political opposition is performative. Millions of voters who were forced to work from home during the pandemic while also taking care of their children now see daycare centres as economic infrastructure that is as important as roads and ports. The evidence that affordable child care strengthens the economy is also indisputable. As the chart below shows, Quebec was a laggard when it introduced its program 25 years ago. Its participation rates are now the highest in the country. The broader economy will be stronger in the years ahead now that more provinces are trying to catch up.<\/p>\n<figure class=\"embedded-image\"><picture class=\"embedded-image__ratio\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_Women-participation-rate-1.png?quality=90&strip=all&w=288&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_Women-participation-rate-1.png?quality=90&strip=all&w=288&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_Women-participation-rate-1.png?quality=90&strip=all&w=288&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_Women-participation-rate-1.png?quality=90&strip=all&w=288&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_Women-participation-rate-1.png?quality=90&strip=all&w=288&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_Women-participation-rate-1.png?quality=90&strip=all&w=288&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_Women-participation-rate-1.png?quality=90&strip=all&w=288&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_Women-participation-rate-1.png?quality=90&strip=all&w=288&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_Women-participation-rate-1.png?quality=90&strip=all&w=288&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_Women-participation-rate-1.png?quality=90&strip=all&w=288&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_Women-participation-rate-1.png?quality=90&strip=all&w=288&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"\" class=\"embedded-image__image lazyload\" fifu-data-src=\"https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_Women-participation-rate-1.png?quality=90&strip=all&w=288&ssl=1\" srcset=\"https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_Women-participation-rate-1.png?quality=90&strip=all&w=288,\n                https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/thumbnail_Women-participation-rate-1.png?quality=90&strip=all&w=576 2x\" height=\"840\" loading=\"lazy\" width=\"1001\"\/><\/picture><\/figure>\n<h2>Export, import<\/h2>\n<p data-async=\"\"><span style=\"font-size: 16px;line-height: 19px\">Exports remain a tailwind. Statistics Canada <strong>reported<\/strong> Aug. 5 that companies shipped goods worth $53.8 billion in June, the most ever. A lot of that is the result of surging commodity prices, but the companies reaping the windfall profits don\u2019t care, and neither does the macroeconomy: it\u2019s all money that is coming out of the pockets of foreigners that can be put to use building Canada\u2019s wealth.\u00a0<\/span><\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group\">\n<section class=\"ad\">\n<h2 class=\"visually-hidden\">Advertisement<\/h2>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-9\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"9\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" id=\"ad-9\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div class=\"ad__placeholder\">\n<p> This advertisement has not loaded yet, but your article continues below. <\/p>\n<\/p><\/div><\/div><\/div><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p><span style=\"font-size: 16px;line-height: 19px\">Hopefully exporters are taking advantage of their good fortune to invest in their companies so they will be in a position to take even greater advantage of opportunities in the future. Business\u00a0 investment has disappointed for years, as the collapse of the oil and gas industry exposed how little other industries were spending to boost their productivity. <\/span><\/p>\n<p><span style=\"font-size: 16px;line-height: 19px\">A proxy for business investment is imports of industrial machinery and equipment because much of the cutting-edge technology needed to power a modern factory is manufactured abroad. Imports of such things climbed to $16.9 billion in the second quarter, a 2.5-per-cent increase from the previous quarter and the most since the third quarter of 2019. If history is a guide, business investment will follow.\u00a0<\/span><\/p>\n<figure class=\"embedded-image\"><picture class=\"embedded-image__ratio\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/Trade-imports-1.png?quality=90&strip=all&w=288&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/Trade-imports-1.png?quality=90&strip=all&w=288&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/Trade-imports-1.png?quality=90&strip=all&w=288&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/Trade-imports-1.png?quality=90&strip=all&w=288&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/Trade-imports-1.png?quality=90&strip=all&w=288&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/Trade-imports-1.png?quality=90&strip=all&w=288&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/Trade-imports-1.png?quality=90&strip=all&w=288&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/Trade-imports-1.png?quality=90&strip=all&w=288&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/Trade-imports-1.png?quality=90&strip=all&w=288&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/Trade-imports-1.png?quality=90&strip=all&w=288&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/Trade-imports-1.png?quality=90&strip=all&w=288&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"\" class=\"embedded-image__image lazyload\" fifu-data-src=\"https:\/\/i1.wp.com\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/Trade-imports-1.png?quality=90&strip=all&w=288&ssl=1\" srcset=\"https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/Trade-imports-1.png?quality=90&strip=all&w=288,\n                https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/Trade-imports-1.png?quality=90&strip=all&w=576 2x\" height=\"849\" loading=\"lazy\" width=\"1000\"\/><\/picture><\/figure>\n<p data-async=\"\"><span class=\"s1\"><em>\u2022 Email: kcarmichael@postmedia.com | Twitter: <a class=\"\u201ctwitter-follow-button\u201d\" data-evt=\"click\" data-evt-typ=\"User Interaction Click\" data-evt-val=\"{\" control_fields=\"\" source=\"\" type=\"\" name=\"\" vertical=\"\" position=\"\" pixels=\"\" link=\"\" href=\"\u201dhttps:\/\/twitter.com\/carmichaelkevin\u201d\">carmichaelkevin<\/a><\/em><\/span><\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt=\"beforeunload\" data-evt-typ=\"scroll-depth\" data-evt-val=\"{\" control_fields=\"\" of=\"\" page=\"\" viewed=\"\" story=\"\">\n<h2 class=\"visually-hidden\">Share this article in your social network<\/h2>\n<\/section>\n<div class=\"article-content__ad-group\">\n<div 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Please try again <\/p>\n<\/p><\/div>\n<\/section>\n<\/div>\n<footer aria-label=\"Article Comments\" class=\"article-footer\">\n<section class=\"comments__section\" id=\"comments\">\n<h3 class=\"widget-title comments-anchor\" id=\"comments-area\">Comments<\/h3>\n<p class=\"comments__section-disclaimer\"> Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Comments may take up to an hour for moderation before appearing on the site. We ask you to keep your comments relevant and respectful. We have enabled email notifications\u2014you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Visit our Community Guidelines for more information and details on how to adjust your email settings. <\/p>\n<\/section>\n<\/footer>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>\n<br \/>Postmortem: Low-wage workers are being left behind<\/a><br \/>\n<br \/>2021-08-09 13:13:47<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links Economy Author of the article: Kevin Carmichael Publishing date: Aug 09, 2021 \u00a0\u2022\u00a0 43\u00a0minutes ago \u00a0\u2022\u00a0 5 minute read \u00a0\u2022\u00a0 Join the conversation Canada gained 94,000 positions&#8230;<\/p>\n","protected":false},"author":2,"featured_media":12707,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/smartcdn.prod.postmedia.digital\/financialpost\/wp-content\/uploads\/2021\/08\/jobs20806.jpg?quality=90&strip=all&w=288","fifu_image_alt":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-12706","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/12706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=12706"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/12706\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/12707"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=12706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=12706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=12706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}