The 9m canadians out of work/on CERB have been 'reclassed' as being on the government's payroll and so no longer count as unemployed... Most of them don't even know.
Out of the almost 17 million Canadians on payroll over 9 million lost their job. They corrected this number to about 1 million. You either believe that the unemployment rate is 60% (like before the correction) or 8% (after the correction).
Here is last years dataset https://www.adp.ca/-/media/adpca/redesign2019/images/resource-hub/ner/1120/adp_canada_ner_history_2020_11.xlsx?la=en
and this years:
I dont understand the charts but that's fucked if they did that and also doesn't surprise me.
here's the charts side by side so you can see how they fudged the numbers
https://media.omegacanada.win/post/tzsD8Vvp.png
Thank you.
CERB program already ended. People are now on EI.
that falls under the 'out of work' group mentioned in the OP. Please understand I am trying to simplify something so complex that it won't even be on the news.
Dude, you copied my comment on this from a few days ago.
https://omegacanada.win/p/12hkTep5mx/how-about-those-job-numbers-on-t/c/4Dx6WfYtXYg
I understand it more than you.
I'm not talking about simplifying it for you, you are smart.
A 60% unemployment rate would be on the news.
Also some provinces do their own reporting on unemployment rates and there are nowhere near 60%. They are closer to 8%. Unless you think Conservative Premiers like Kenney, Moe or Legault are cooking the books too.
Why would something that omegacanada just discovered be on the news? it's too new.
Omegacanada didn't discover anything. You speculate that the numbers from ADP (which are in itself only guessing) are right and that the government gave them order to correct them. You provided no proof for it.
I wouldn't expect the statefunded media in Canada to touch it. This is the sort of thing zerohedge, Blacklocks or Michael Burry would pick up. It's important to have experts figure out why they would fudge these numbers like they did and explore the issue and it's implications.
They do. You can read it in every labour force survey from StatsCan.
https://www150.statcan.gc.ca/n1/daily-quotidien/210205/dq210205a-eng.htm
"The number of people who wanted a job but were not actively looking for one, and therefore did not meet the definition of unemployment, increased by 74,000 (+14.3%) in January. If people in this group had been counted as part of the group of unemployed, the adjusted unemployment rate in January would be 12.0%."
They include people who could work but aren't looking for one, speak "people who fall off the rolls".
Investors acting on the incorrect data could have a good case against the parties involved in this ADP payrolls matter. They were victimized by an act of fraud or negligence - possibly malfeasance