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US job growth vs. Canadian and EU job growth
By: Stew Mayers
There are good reasons why the US creates jobs and the Canada-EU socialist axis does not
August 10 2005
There is barely a whimper in the Canadian media on the July ’05 jobs report – or more accurately, the no job creation report. Incredibly no jobs were created in Canada during July. If the same happened in the US, the media would be full of tales of US economic weakness and empire decline. The US is creating 190. 000 jobs per month with its economy growing at 3. 5-4. 0 % per annum. Combined with productivity rates of 2. 5 % per annum – double and in some years triple the Canadian average – the US will experience higher incomes, higher standards of living and more tax revenues as the economy expands, and these monies can be reinvested in health, education and infrastructure furthering US economic advantage.
This difference in job creationism is massive. In Canada in 2004 225. 000 jobs were created and in 2005 the estimates are that about 130. 000 new jobs will be generated. The trend to lower economic and job growth in Canada is self-evident. Indeed in Canada thus far in 2005, less than 8. 000 jobs per month have been created. Such a job creation growth translated to the US would mean a US job creation rate of 80. 000 per month or about 1 million per annum. In fact the US job creation level is 2. 2 million per annum. The difference in US job creationism and its impact on society and employment levels cannot be downplayed.
The lack of real job creation in Canada and in Europe underscores the weakness of the big government society model. In both locales, there are fewer jobs produced on a per capita basis, than in the US and crucially both Canada and Europe have less full time and non-governmental job creation than the US. In Europe in the past 15 years according to the OECD, fully 90 % of jobs have been g |
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