How do you spell Recession?
This is a weekly column by Dale Goldhawk, Canada’s best-known consumer advocate. A journalist, author and broadcaster, Dale hosts Goldhawk Fights Back For You, on AM 740 or at AM740 ZoomerRadio, Monday through Friday from 11 am to 1 pm, in the eastern time zone. Visit his website at www.goldhawk.com.
Recession – the word means different things in different countries. In the United States, it is widespread disaster for lower and middle income families, the housing market in particular, manufacturing in general, middle and high end retailers and so on.
In the U.S., recession means horrendous government deficits putting that nation in hock to China, India, Saudi Arabia and others for decades to come.
In Canada, we have a good picture of what Recession means and, while not as bad as other places, it’s a sad picture.
Ottawa projects an economy without growth over next year and perhaps 2010 despite the Winter Olympic Games in B.C.
We’ll see growing unemployment that may hit as many as 50,000 jobs lost over 2009, primarily in manufacturing, energy, mining and other troubled sectors. And new workers may have trouble being absorbed into the workforce.
Wages will stagnate and some may drop. But federal civil servants will continue to see their usual salary increases of 1.5 percent next year.
Photo ©iStockphoto.com/ Lilli Day
Gemini award nominee, journalist and broadcaster, Dale Goldhawk has earned Canada’s trust by his four decades of work exposing fraud and greed in the marketplace. To read more of his articles, go to www.Goldhawk.com (now part of the ZoomerMedia family of websites).
Don’t miss Goldhawk Fights Back , on the New AM740 Monday to Friday from 10 a.m. until 1 p.m.