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14 November 2008
8 November 2008 was the 8th day of the fifth month of the 3rd year of Canadian national consciousness rising to invincibility, as indicated by the following press reports:
8 November 2008
The Globe and Mail - Canada adds 9,500 jobs, defies expectations (7 November 2008) The Canadian economy defied expectations and added 9,500 new jobs in October, which some economists called an impressive result that augured well for income growth. Economists forecast 10,000 job losses. 'The labour market surprises once again,' said Toronto-Dominion Bank economist Charmaine Buskas, noting that the addition of 47,500 full-time jobs 'bodes well for income growth.' (Part-time positions shed 38,100 jobs for the overall net gain.)
From a Toronto Star report on this: Adrienne Warren, a senior economist at Scotiabank, said with Canada still largely dodging the worst effects of the financial crisis, 'we can probably have a little cheerier Christmas.'
From a CBC News report on this: Economists said the October job report showed the resilience of the Canadian economy.
From a Canadian Press report on this: BMO Capital Markets economist Douglas Porter noted that October's number looks relatively rosy, particularly following September's record 107,000 employment advance.
From a Canadian Economic Press report on this: 'Landing deep in the heart of October's financial market turmoil, the stability in Canada's latest jobs survey is impressive, even if the numbers were heavily bolstered by election-related hiring,' BMO deputy chief economist Porter wrote. 'After all, this modest gain follows a record rise in the prior month.' Most of the details of the report were decent, said Porter, as full-time jobs rose 47,500. Since December of last year, Canada has been adding nearly 20,000 jobs per month, including a respectable 13,000 monthly gain in private sector positions. The October gains brought to 203,000 the number of jobs created since the start of the year.
From a Bloomberg News report on this: Wage growth in October rose at a pace of 4.3 per cent from October 2007. Other data from October suggest a worldwide economic slump won't affect Canada as much as elsewhere. For example, auto sales rose 1.5 per cent during the month. Canada will be the sole nation of the Group of Seven industrialized economies to record economic growth next year, according to International Monetary Fund projections released Thursday.
The Victoria Times Colonist - Victoria has lowest unemployment in country (7 November 2008) Greater Victoria remains in the number 1 position with the country's lowest unemployment rate despite today's volatile and uncertain economic climate. The seasonally adjusted, three-month moving average held steady at 3.2 per cent in October, the same as September. The next closest city is Edmonton at 3.4 per cent, followed by Calgary at 3.8 per cent. Provincially, British Columbia's unemployment rate was 5.1 per cent last month, lower than the national average of 6.2. Ken Stratford, Business Victoria CEO, said he had expected Victoria's unemployment rate to rise last month. 'I'm pleased and surprised. I think it indicates that the impact at least has not been felt yet locally.'
Bloomberg News - Canada's dollar strengthens versus world's major currencies (8 November 2008) Canada's dollar outperformed the world's most-actively traded currencies as the economy unexpectedly added jobs last month and looked poised to withstand a global economic slowdown. The Canadian dollar, dubbed the loonie for the aquatic bird on the one-dollar coin, rose 2 per cent this week on its US counterpart. One Canadian dollar buys 84.08 US cents. 'The ability of the Canadian economy to continue to generate jobs is truly outstanding and astounding,' said Andrew Busch, a currency strategist at BMO Capital Markets in Chicago. 'The Canadian financial architecture has been so much better than the rest of the world. It certainly has been a contributing factor to why the Canadian dollar has performed well recently.'' Canada's dollar has rebounded 7.1 per cent since 28 Oct.
The Financial Post - Worst may already be over (7 November 2008) Alison Manzer, a partner in the Financial Services Group of Toronto-based Cassels Brock Blackwell LLP, admits she was one of the early doom-and-gloomers. However, she is singing a different tune today—and for good reason. 'We are near or at the bottom of this recessionary environment. From the private equity viewpoint, one of the reasons I'm seeing more rays of light is that we recognize the symptoms and we've learned some key lessons,' she says. At the same time, there is plenty of private equity money out there looking for the right opportunities. 'One of the things we are going to see is a rebalancing of economic power in the marketplace,' says David Butler, a partner in the Business Law Group of Cassels Brock. 'Institutional private equity has dominated the transaction market in the last five years—but it has done so in an artificial way, by taking advantage of easy credit, putting too much focus on financial engineering and not enough on business fundamentals. 'There will be a return to value investing,' Mr Butler says. And that's a good thing. 'This is healthy for the economy because the strategic buyer is buying to maintain, grow, develop, innovate and keep jobs in a core business they understand,' Ms Manzer says. And private equity is ready—and shopping. 'When it comes to alternative energy, everybody is looking at sustainability, carbon footprint reduction—the amount of work being done is breathtaking. Private equity can feed into improvements in many sectors,' Mr Butler says. That includes leading traditional industries, too. Even in the hard-hit manufacturing and automotive sectors, there are innovative companies preparing to greet a new day.
The Globe and Mail - Any kid can learn math (8 November 2008) Melissa Marsh is a special education co-ordinator at Gwa'sala-'Nakwaxda'xw School in Port Hardy, British Columbia, at the northern tip of Vancouver Island. Many of its students struggle with learning disabilities, cognitive disabilities, and behaviour problems. But now, children at this school are experiencing the unaccustomed taste of success in a subject that far more advantaged students have grown to dread—math. One floundering Innu boy, for example, quickly became a math whiz. The kids at her small band school are now performing at the regional average in math, she says. The JUMP math programme was pioneered by Toronto mathematician John Mighton (currently in residence at Toronto's Fields Institute for Research in Mathematical Sciences). JUMP (Junior Undiscovered Math Prodigies) is structured so that every child can solve the problems, one small step at a time. That builds their confidence and self-esteem, and keeps them motivated and engaged. Teachers say their math skills dramatically improve. The JUMP programme is now being used in more than a dozen first nations schools in BC, as well as in many other schools in the Vancouver area. The JUMP programme is founded on observation, evidence, teacher feedback, and continuous improvement, combined with new research findings on how the brain learns.
The Canadian Press - Harper seeks co-operation, not confrontation in Commons (7 November 2008) The Harper government is striking a conciliatory tone as it prepares for the opening of Parliament, emphasizing the need for co-operation on the economy and downplaying the potential for confrontation. As part of the kinder, gentler tone, Prime Minister Harper had a 'cordial and businesslike' meeting Friday with Liberal Leader Stephane Dion. Dion agreed with Harper that Parliament's central focus must be the economy. Harper also plans to meet the two other opposition leaders, consulting them on priorities for the new parliamentary session, which opens 18 Nov. A senior government official says Harper intends to focus almost exclusively on the global economic crisis and measures to help Canada weather the storm. The official suggests Harper isn't eager to immediately push ahead with a series of tough-on-crime proposals, including stiffer sentences for young offenders. All three opposition parties say they will oppose the measures. 'We are not seeking confrontation in areas that are secondary to the economic focus of this government,' the official told reporters. 'I think it bodes well for the return of the House that this initial meeting was cordial.'
These are a few of the news reports reflecting Canada's rising invincibility from the growing Yogic Flying groups across Canada and the Invincible America Assembly at Maharishi University of Management and Maharishi Vedic City, USA.
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