EI benefits falling faster than unemployment

Posted on July 22, 2013 by CanucksBanter

By Erin Weir http://rabble.ca   July 19, 2013

Statistics Canada reported this week that 12,290 fewer Canadians received Employment Insurance (EI) benefits in May compared to April. EI benefits are shrinking far faster than unemployment.

In percentage terms, the number of EI recipients declined as much in just the last month as unemployment declined over the past year. Between April and May, the number of unemployed Canadians decreased by only 1 per cent while the number of EI beneficiaries decreased by 2.4 per cent. Compared to May of last year, the number of unemployed workers was down by 2.4 per cent but the number of EI beneficiaries was down by 7.4 per cent.

We already know from the Labour Force Survey that unemployment rose in June. The downward trend in EI is troubling given that more workers will likely need benefits.

The federal government is cutting back EI too quickly given that unemployment is barely decreasing. As Armine Yalnizyan points out, EI coverage is now at its lowest level since World War II.

Erin Weir is an economist with the United Steelworkers union and a CCPA research associate

Vancouver Canucks Poll: Where Will They Finish in 2013-2014 Season?

Posted on July 21, 2013 by CanucksBanter

Come to the blog and take part in the poll….leave a comment…..Don’t be shy….don’t worry about how you look….open 24/7….see you soon.

Signed,

Bank Of Portugal Expects 222,000 Jobs To Be Lost In 2013

Posted on July 21, 2013 by CanucksBanter

July 16, 2013 · by Rui Miguel Martins http://theportugaltimes.wordpress.com

In its summer economic outlook bulletin, Portugal’s central bank announced Tuesday that it expects the country to shed 222,000 jobs or 4,8% of the workforce in 2013. Its 2014 forecast was slightly less severe with a projected loss of 57,360 jobs lost or 1,3% of the total workforce.

The country’s unemployment rate is at a record high of 17,7% according to the Institute of National Statistics (INE). It is expected to peak at 18,5% in 2014 according to IMF estimates.

The workforce is expected to shrink from 4,41million to 4,36million in 2014 according to the Bank of Portugal. It also announced that it expects the recession this year to ease slightly to -2,0%, compared to -2,3% in 2012.