Canada's Unemployment Rate Drops For The Wrong Reason

Part Time JobQuand, on vous dit que le taux de chômage a baissé, vous devez au moins examinés 4 facteurs sur le plan économique pour savoir si on va dans bonne direction.

1.      Combien d’emploi partiel a été créé, car un emploi partiel génère rarement des recettes fiscales intéressantes.

2.      Combien de gens, ne cherchent plus d’emplois ou se sont dirigés vers la retraite, car s’il y a moins de gens actifs à chercher des emplois cela réduit le taux de chômage.

3.      Si les emplois créés proviennent du secteur public, une plus grande charge fiscale sur le dos des contribuables du privé, qui sont les seuls générateurs de richesse.

4.      Sur quelle assiette fiscale que ces emplois ont été créés, s’ils gravitent autour du salaire minimum, il paie peu d’impôts sinon pas du tout, par contre ils ont droit à tous les services fournis par l’État.

Donc, sans connaître l’ensemble de ces facteurs, vous vous avez une idée très vague de la situation réelle de l’économie.

Exemple au Québec : Depuis le début de l’année, les deux tiers des emplois créés sont des postes à temps partiel. (1)


Extrait de: Canada's Unemployment Rate Drops For The Wrong Reason, The Huffington Post Canada, By Daniel Tencer, 12/02/2016

Canada's jobless rate fell to 6.8 per cent in November, from 7 per cent the month before, but not because the country is churning out jobs.

Ø  Rather, job-seekers are dropping out of the workforce, reducing the number of people looking for work, Statistics Canada said in its Labour Force Survey Friday.

This usually happens when people are unable to find work for a long time and become discouraged.

Ø  But in Canada today there's another factor: The large Baby Boomer population is retiring, shrinking the workforce.

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The country added a net total of 11,000 jobs in the month, but all of the gain was in part-time work.

·       Full-time employment fell by 8,700 positions, while part-time jobs grew by 19,400.

·       In fact, over the past year, Canada has lost 30,500 full-time jobs, while gaining 213,700 part-time jobs.

That likely helps to explain why wages in Canada are falling, when adjusted for inflation.

"Plenty of jobs in the offing, but not the kind of work we'd like to see," CIBC economist Avery Shenfeld wrote in a client note.

Canada's unemployment rate dropped to 6.8 per cent in November. (Chart: StatsCan)

Ontario saw the strongest job growth, adding 19,000 positions, while Alberta lost 13,000 jobs in the month. British Columbia, which has seen the strongest job growth in Canada over the past year, lost some of its momentum, with employment flat for the month.

On the bright side, Canada's housing boom is still driving job growth.

Par contre, c’est une économie par endettement, une fausse économie et cela risque de faire un sérieux Boum !

Jobs in finance, insurance, real estate and leasing jumped by 54,000 over the past year, StatsCan reports. The largest percentage job increases were in information, culture and recreation, which added 45,000 jobs, an increase of 5.9 per cent in a year. That's likely the result of the tourism boost that has happened since the loonie fell.

Bank of Canada governor Stephen Poloz said earlier this week that the economic future of Canada lies with services and not manufacturing.

The StatsCan data bears this out. The services sector of the economy added 1.8 per cent new jobs over the past year, while the goods-producing sector has lost 1.6 per cent of its jobs.

Poloz vit dans un nuage !

Poloz has been appealing for patience for months in the face of choppy data, arguing the economy will rebound over the next couple of years on the back of a U.S. recovery. Recent communications from the Bank of Canada however have been more downbeat.

Exports have “lost ground” and the balance of risks to inflation has “tilted somewhat to the downside,” the bank said in the statement accompanying its Sept. 7 rate decision.


 

Sanders: Outsourcing Prevention Act

Il y a plus de ‘brain’ aux États-Unis pour arrêter l’hémorragie que notre professeur d’art dramatique qui lui fait entre temps la promotion du libre-échange avec la Chine.

Il doit coucher plus souvent avec les financiers et les présidents des multinationales que sont peuples qui est surendettées et à toutes les misères à arriver avec des emplois peu payés et particulièrement à temps partiels.

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Sanders Statement on Carrier and Outsourcing

Saturday, November 26, 2016

BURLINGTON, Vt., Nov. 26 – U.S. Sen. Bernie Sanders (I-Vt.) issued the following statement Saturday:

“During the campaign, Donald Trump made a 100 percent commitment to prevent United Technologies from shipping 2,100 jobs from Indiana to Mexico. All of us need to hold Mr. Trump accountable to make sure that he keeps this promise.

“Let’s be clear: it is not good enough to save some of these jobs. We cannot rest until United Technologies signs a firm contract to keep all of these good-paying jobs in Indiana without slashing the salaries or benefits workers have earned.

United Technologies is not going broke. Last year, it made a profit of $7.6 billion and received over $6 billion in defense contracts.  It has also received more than $50 million in corporate welfare from the Export-Import Bank and very generous tax breaks.

·       In 2014, United Technologies gave its former CEO Louis Chenevert a golden parachute worth over $172 million.

·       Last year, the company’s five highest paid executives made over $50 million.

·       The firm also spent $12 billion to inflate its stock price instead of using that money to invest in new plants and workers.

“I call on Mr. Trump to make it clear to the CEO of United Technologies that if his firm wants to receive another defense contract from the taxpayers of this country, it must not move these plants to Mexico.

We need to send a very loud and very clear message to corporate America: the era of outsourcing is over. Instead of offshoring jobs, the time has come for you to start bringing good-paying jobs back to the United States of America.

“If United Technologies or any other company wants to keep outsourcing decent-paying American jobs, those companies must pay an outsourcing tax equal to the amount of money it expects to save by moving factories to Mexico or other low-wage countries. They must pay back all of the tax breaks and other corporate welfare they have received from the federal government. And they must not be allowed to reward their executives with stock options, bonuses or golden parachutes for outsourcing jobs to low wage countries.

“I will soon be introducing legislation to make sure that Donald Trump keeps his promise to prevent the outsourcing of American jobs. For the sake of American workers, this is a promise that cannot and must not be broken.”

Summary of the Outsourcing Prevention Act

In February, Carrier and UTEC announced that it would be closing two plants in Indianapolis and Huntington, Indiana shipping 2,100 jobs to Monterrey, Mexico, where workers are paid just $3 an hour.  Both of these plants are owned by United Technologies. This legislation will provide a comprehensive solution to address this problem. United Technologies is not an outlier; it is representative of how so many multi-national corporations are taking advantage of our rigged economic system to pad their profits while hurting American workers. President-elect Trump made a promise during the campaign that he would prevent all of these jobs from being shipped overseas. The Outsourcing Prevention Act would make sure that Donald Trump keeps this promise by:

1. Preventing companies that outsource jobs from receiving federal contracts, tax breaks, grants or loans.

Last year, United Technologies received over $6 billion in federal contracts, making it the seventh largest recipient of federal contract funds. Over the past 15 years, this Fortune 500 company has used loopholes in the tax code to shelter more than two-thirds of its $38 billion in profits from federal taxation. It has also received over $50 million in corporate welfare from the Export-Import Bank. Under this legislation, companies would be barred from receiving future contracts, tax breaks, grants or loans from the federal government if they have announced plans to outsource more than 50 jobs overseas.

2. Clawing back federal benefits from companies that outsource jobs have received over the last decade.

This legislation would require all companies that outsource more than 50 jobs in a given year to pay back all federal tax breaks, grants and loans they have received from the federal government over the last decade.

3. Establishing an outsourcing tax on companies that move U.S. jobs offshore.

This legislation would impose a tax on all companies that outsource jobs. The tax would be equal to the amount of savings achieved by outsourcing jobs or 35 percent of its profits, whichever is higher. United Technologies estimated that it would save $65 million a year by moving its jobs in Indiana to Mexico. Under this legislation, the company would be required to pay a tax of no less than $65 million a year.      

4. Prohibiting executives from profiting off of the outsourcing of U.S. jobs.

This legislation would prohibit companies that offshore jobs from enriching executives through golden parachutes, stock options, bonuses, or other forms of compensation by imposing stiff tax penalties on this compensation.  In addition, companies that outsource jobs overseas would be prevented from buying back its own stock. In 2014, United Technologies gave its former CEO a golden parachute worth over $172 million. Last year, the company’s five highest paid executives made over $50 million. The firm also spent $12 billion to inflate its stock price instead of using that money to invest in new plants and workers.


 

Should Canada worry about Wilbur Ross (U.S. commerce secretary) ?

 

Sensible Trade is not a Dum Trade

J’ai écouté l’interview de Wilbur Ross un spécialiste en redressement d’entreprise, de plus il est multi milliardaire et âgé de 79 ans.

clip_image002Même type de profile que M. Trump, n’a plus rien à prouver, pas achetable, et ce qu’il a mentionné, c’est M. Trump lui a demandé de servir son pays et va le faire avec conviction, et comme il a mentionné, je ne suis pas sorti de ma retraite pour me croiser les doigts.

J’ai pris connaissance du document ‘Scoring the Trump Economic Plan: Trade, Regulatory, & Energy Policy, Impacts) que le professeur Peter Navarro et Wilbur Ross ont publié,  j’en ferai un résumé cette semaine, très intéressant.

Document nettement plus pragmatique que des théories utopiques (mondialisation heureuse) qui se sont révélées fausses empiriquement.

Oui, il risque d’avoir un sérieux impacte, car il prône un ‘Fair Trade au lieu d’un Free Trade’ et le Canada risque d’écoper, mais, certainement moins que le Mexique.

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À partir de 5 : 25

Encore là, la bataille de M. Trump est la même pour les travailleurs canadiens, si on avait des politiciens un peu moins corrompus, et des journalistes un peu plus critiques et moins asservis à leurs petits amis on serait tout probablement sur la même longueur d’onde que M. Trump.

Prenez le temps d’écouter le vidéo, nettement plus intéressant, que M. Poloz qui vous raconte n’importe quoi ! en vous disant que les emplois du service sont plus payants, pourtant car on regarde les emplois crées, ils sont particulièrement en grande partie à temps partiels ou peu payés.


Extrait de: Should Canada worry about Wilbur Ross ?, Alex Panetta, The Canadian Press, November 30, 2016

WASHINGTON – A vocal critic of the North American Free Trade Agreement will be in charge of the U.S. commerce portfolio, with the nomination Wednesday of Wilbur Ross, a billionaire investor who condemns foreign sales taxes as a backdoor tariff on American goods.

The 79-year-old investor in manufacturing companies helped write Donald Trump’s trade platform – which accused U.S. trading partners of using value-added taxes as an economic weapon, to force American companies to move offshore.

Ross co-authored an economic policy paper that proposed renegotiating NAFTA and included a call for combating the use of foreign consumption taxes that render American-made goods less competitive. Trump echoed the paper’s views in campaign speeches.

The document argued that foreign countries offer a sales-tax rebate on their own goods shipped abroad, but then tax incoming products from the U.S., which does not have a value-added tax. The net effect, he said, is to invite U.S. companies to relocate.

 “Like many countries, Mexico has shrewdly exploited the (value-added tax) backdoor tariff to further its competitive advantage,” Ross wrote in the 31-page pager, co-authored in September with University of California business professor Peter Navarro.

“It is thus not surprising that U.S. corporations want to move their factories offshore and then export their products back to the U.S.”

Ross is one of several billionaires nominated to the new Trump cabinet.

The latest additions to the administration on Wednesday included a treasury secretary, Steven Mnuchin, who worked at Goldman Sachs and whom critics say was instrumental in introducing the creative debt-swapping instruments that contributed to the global financial crisis; and Ameritrade heir and Chicago Cubs owner Todd Ricketts, nominated as deputy commerce secretary.

Trump has yet to name the next U.S. trade representative – responsible for executing his promise to renegotiate or cancel NAFTA.

Yet some observers suggest he’s signalled his seriousness on trade by nominating a billionaire best known for buying struggling U.S. manufacturing companies, then either saving them, according to admirers, or brutally downsizing them, according to detractors.

One observer voiced both opinions of Ross.

Scott Paul, president of the Alliance for American Manufacturing, a coalition of steel industries and the United Steelworkers union, told the Wall Street Journal: “There are lots of jobs (in the U.S.) that are here now that would have disappeared forever if not for his interventions. … But he’s like dealing with a trauma surgeon: He can keep you alive, but it will cost you your leg.”

Trump himself hinted Ross will be applying his negotiation skills.

“Wilbur Ross is a champion of American manufacturing and knows how to help companies succeed,” Trump said in a statement.

“Most importantly, he is one of the greatest negotiators I have ever met and that comes from me, the author of The Art of the Deal.”

It’s unclear how Canada fits into the complaints about NAFTA.

During the campaign, Trump almost never mentioned Canada. Ross did the same in the September paper he co-authored – it mentioned Mexico 10 times, and Canada just once, in passing, as one of the major countries contributing to the U.S. trade deficit.

A leading expert on international tax policy says Canada could be affected by the trade talk.

“I guess, probably, Canada should worry,” said Gary Hufbauer, a former U.S. federal official and now a fellow at the Peterson Institute for International Economics.

“If Canada loves its value-added tax, or its GST as they call it … that’s fine. That doesn’t bother Trump at all.” But when it’s applied to imports, Hufbauer said: “He sees it as a tariff when you levy it at the border.”

He said one of two things might happen: the U.S. will push for an end on tax rebates for products shipped into the U.S., or introduce its own rebates as suggested in a plan by Republican congressional leader Paul Ryan.

Hufbauer said economists will conclude it’s no big deal – because currencies would adjust to the new reality and because Canada has a smaller trade surplus with the U.S. than Mexico, which would feel a deeper sting.

“It’s not a big concern for economists at the University of Toronto who are going to say the Canadian dollar is going to offset (this),” Hufbauer said.

“They’re going to go on TV and tell people not to worry. … But it’s a big concern for firms that (trade across the border).”


 

Trump : The era economic surrender is over: Nafta is a disaster

Hier, il a maintenu sa position.

À partir de 34:14 min., il parle particulièrement d’économie.

Donald Trump AMAZING SPEECH at USA THANK YOU Tour 2016 Rally in Cincinnati

Donald Trump AMAZING SPEECH at USA THANK YOU Tour 2016 Rally in Cincinnati, Ohio HD STREAM FULL, Published on Dec 1, 2016

Trump: We will defend the American worker. No Global Citizenship

Préparez-vous, il ne plaisante pas !

Le peuple américain en premier et ‘fuck’ la mondialisation sauvage !


Trump: There Is No Global Flag, No Global Currency, No Global Citizenship. We Will Be United As Americans

At Donald Trump's first post-victory "Thank You" rally in Cincinnati, Ohio, the president-elect outlined his "America First" policy. He said that attempts to "separate us by race, by age, by income, by place of birth, and by geography" were over.

He said: "Now is the time to embrace the one thing that truly unites us. You know what that is? America."

He continued: "We hear a lot of talk about how we are becoming a 'globalized world.' But the relationships that people value in this country are local."

"There is no global anthem. No global currency. No certificate of global citizenship. We pledge allegiance to one flag and that flag is the American flag," he continued. "From now on it is going to be: America First... Never anyone again will any other interests come before the interest of the American people. It is not going to happen again."

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Transcript:

PRESIDENT-ELECT DONALD TRUMP: For too long, Washington has tried to put us in boxes. The separate us by race, by age, by income, by place of birth, and by geography. They spend too much time focusing on what divides us.

Now is the time to embrace the one thing that truly unites us. You know what that is? America.

Because when America is unified, nothing is beyond our reach. I mean that. You will see...

We're going to have a country that is so great, in so many different ways.

We hear a lot of talk about how we are becoming a "globalized world." But the relationships that people value in this country are local. Family, state, country. They are local.

We wil compete in the world. We will compete in the world where is a two-way road -- not the one way around. The advantages will come back to our country, and they haven't for many years.

There is no global anthem. No global currency. No certificate of global citizenship. We pledge allegiance to one flag and that flag is the American flag.

[cheering]

From now on it is going to be: America First. Okay? America first. We're going to put ourselves first.

We seek peace and harmony with the nations of the world, but that means recognizing the right of every country --including our own-- to look after its citizens. We would put other countries first, we had people running our country that truly did not know what the hell they we're doing.

[cheers and applause]

We will defend the American worker... look what has happened right here. They forgot the American worker. They forgot that it was the American worker who truly built our country. We will not forget.

One of the reasons we are so divided today is because our government has failed to protect the interests of the American workers, and their families, making it too easy for us to see ourselves as distinct groups, and not unified as a whole. We're not unified. We're going to be.

Washington politicians have spent so long appealing to particular interests, that they have forgotten how to appeal to to the national interests. How to muster the skills and the talents of our people in common cause. And we have unbelievable talent. But that is all about to change.

Our goal is to strengthen the bonds of trust between citizens, to restore the sense of membership in our shared national community.

Global is wonderful, but right now we want to focus on our national community.

Never anyone again will any other interests come before the interest of the American people. It is not going to happen again.

[applause]

Over the last two weeks since the victory, I have spoken to many foreign leaders. And I will tell you they have such respect for us. They all tell me how this was amazing, how they sat in their magnificent rooms --the leaders, the prime ministers, the presidents, all of them. How they sat in their magnificent rooms, watching in wonderment, hearing how people came to vote that had not voted in 20 years, people came to vote how have never voted before. And they had Trump shirts on, and 'Make America Great Again' hats, and they thought it was amazing.

[applause]

And honestly, one of them told me: I truly respect the United States again because of what happened
.

 

Carrier Plant Will Keep Jobs in U.S

Félicitant Donald Trump provenant du New York Times, c’est un exploit !

Savez-vous que cette semaine le New York Time a reçu des tonnes de sel comme cadeau pour le Thanksgiving.

Beaucoup de gens étaient très mécontents de la couverture du New York Times vis-à-vis de Donald Trump, lors de l’élection présidentielle.

Évidemment New York Times favorisait indûment M. Hilary Clinton du vrai pur ‘bashing’ contre M. Trump.

Alors, dans les réseaux sociaux des milliers de personnes se sont mis d’accord d’envoyés des poches de sel au New York Times, dans le sens figuré pour signifier qu’il faut les prendres : ‘Avec un gros grain de sel’.

Trump-Hating NYT Reporters Stunned After Trump Fans Send 2,600 lbs. of Salt to Their Doorstep

Bon revenons à notre article, l’article le complémente, bien sûr en en envoyant un couple de flèches, enfin, c’est un début.

Donald Trump For Carrier Deal

Il y a d’excellent blogue alternatif aux États-Unis,
en voici un :
The Young Turks

Évidemment, M. Trump durant les élections avait fortement critiqué Carrier de délocaliser les opérations au Mexique.

Il semble qu’il a rétabli la situation.

Carrier’s decision to move the factory to Monterrey, Mexico, will eliminate 1,400 jobs by 2019. Mr. Trump quickly made the factory Exhibit A in his argument against the trade policies of Republicans and Democrats alike.

He cited Carrier again and again on the campaign trail, threatening to phone executives at the company and its parent, United Technologies, and to hit them with 35 percent tariffs on any furnaces and air-conditioners they imported from Mexico. To the cheers of his supporters, he predicted at rallies that Carrier would call him up as president and say, “Sir, we’ve decided to stay in the United States.”


Extrait de: Trump to Announce Carrier Plant Will Keep Jobs in U.S. By NELSON D. SCHWARTZNOV. , New York Times, 29, 2016

From the earliest days of his campaign, Donald J. Trump made keeping manufacturing jobs in the United States his signature economic issue, and the decision by Carrier, the big air-conditioner company, to move over 2,000 of them from Indiana to Mexico was a tailor-made talking point for him on the stump.

On Thursday, Mr. Trump and Mike Pence, Indiana’s governor and the vice president-elect, plan to appear at Carrier’s Indianapolis factory to announce a deal with the company to keep roughly 1,000 jobs in the state, according to officials with the transition team as well as Carrier.

Mr. Trump will be hard-pressed to alter the economic forces that have hammered the Rust Belt for decades, but forcing Carrier and its parent company, United Technologies, to reverse course is a powerful tactical strike that will hearten his followers even before he takes office.

“I’m ready for him to come,” said Robin Maynard, a 24-year veteran of Carrier who builds high-efficiency furnaces and earns almost $24 an hour. “Now I can put my daughter through college without having to look for another job.”

It also signals that Mr. Trump is a different kind of Republican, willing to take on big business, at least in individual cases.

And just as only a confirmed anti-Communist like Richard Nixon could go to China, so only a businessman like Mr. Trump could take on corporate America without being called a Bernie Sanders-style socialist. If Barack Obama had tried the same maneuver, he’d probably have drawn criticism for intervening in the free market.

Intéressant comme commentaire.

Trump and the Carrier Factory

In February, a video went viral showing furious workers in Indianapolis learning their jobs would be going abroad.

When Jennifer Shanklin-Hawkins saw Donald Trump talking about the factory on the news, all she could do was shout “Yessss!” at the TV. “I loved it,” she said. “I was so happy Trump noticed us.” (March 2016)

The day after the election, Paul Roell headed straight to the plant before sunrise, bleary-eyed but euphoric. “I don’t watch sports, but this was my World Series,” he said. (Nov. 13, 2016)

In exchange for keeping the factory running in Indianapolis, Mr. Trump and Mr. Pence are expected to reiterate their campaign pledges to be friendlier to businesses by easing regulations and overhauling the corporate tax code, according to a spokeswoman for Mr. Trump.

Pas très bon pour l’économie canadienne qui totalement empoté par la surrèglementations et d’une fiscalité variable selon les provinces.

The state of Indiana also plans to give economic incentives to Carrier as part of the deal to stay, according to local officials.

The message from Mr. Trump that captivated the Carrier workers — keeping manufacturing jobs in the United States after decades of losses to overseas factories and automation — resonated throughout the Rust Belt. That promise, plus his opposition to pacts like the North American Free Trade Agreement, were key reasons he was able to edge out Hillary Clinton in states like Pennsylvania, Michigan and Wisconsin.

Political symbolism aside, saving 1,000 Carrier jobs doesn’t loom so large in an economy that’s created an average of 181,000 jobs a month this year, noted Jared Bernstein, a liberal economist who served as adviser in the Obama administration from 2009 to 2011.

Still, he confessed a grudging admiration for Mr. Trump’s political jujitsu. “If I weren’t so scared of the damage a Trump administration might do, I’d find it refreshing to see an administration fighting for factory jobs like this,” he said. “That said, no one should confuse what Trump is doing here with sustainable economic policy.”

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OPEN Graphic

 

Over the long term, and for less prominent firms, the temptation to move to cheaper locales for manufacturing will stay great, said Robert Reich, a prominent liberal Democrat who served as secretary of labor in the Clinton administration.

“Memories are short but the economic fundamentals remain the same,” he said. “Wall Street is breathing down companies’ necks to cut costs, and the labor savings in Mexico is too great.”

Mr. Trump first announced he was talking to Carrier on Thanksgiving Day via Twitter, which the company quickly confirmed. The discussions have continued this week, and with a tentative deal in hand on Tuesday, transition officials scheduled Mr. Trump’s and Mr. Pence’s visit to Indianapolis.

“I didn’t think it would be this quick,” Mr. Maynard said.

While the standoff loomed large in the lives of its employees in Indiana, for United Technologies the forgone savings is tiny — equivalent to about 2 cents per share in earnings.

 “Every penny counts, but if we step back and I’m looking at earnings of $6.60 per share this year, 2 cents is an easy concession if the president-elect listens to some of the company’s bigger concerns,” said Howard Rubel, a senior equity analyst with Jefferies, an investment banking firm in New York.

When Carrier announced in February that the two Indiana factories would be closing, it did offer benefits to employees facing layoffs, including paying for them to go back to school and retrain for other careers. Even with that, however, once the layoffs were to begin in mid-2017, most of the workers would have had a hard time finding jobs that paid anywhere near the $20 to $25 an hour that veteran line workers earn.

Carrier is best known for its air-conditioners, but it also sells a variety of other heating and cooling equipment for homes and businesses, like the gas furnaces and fan coils for electric furnaces made at the Indianapolis factory. The jobs in Indiana Mr. Trump has referred to are in two separate sites — the Carrier plant in Indianapolis, with 1,400 employees, and a United Technologies factory in Huntington, Ind., with 700.

While Carrier will forfeit some $65 million a year in savings the move was supposed to generate, that’s a small price to pay to avoid the public relations damage from moving the jobs as well as a possible threat to United Technologies’ far-larger military contracting business.

Roughly 10 percent of United Technologies’ $56 billion in revenue comes from the federal government; the Pentagon is its single largest customer. With $4 billion in profit last year, the company has the flexibility to find the savings elsewhere.

Members of Congress have been pressing to punish big military contractors if they move jobs outside the United States.

Many industrial companies face intense pressure from Wall Street to increase profits, even when the economy grows slowly — a major reason United Technologies decided to move.

Tout le problème est là, depuis que les taux d’intérêt les gestionnaires de fonds se sont jetés sur les actions des compagnies. Ce ne sont plus les présidents qui contrôlent les multinationales, mais les gestionnaires de fonds, ils se foutent totalement des peuples occidentaux, seuls intérêts maximiser leurs profits, et comme un Mexicain coûte 5 à 8 $ sur une chaîne de montage au lieu de 20 à 24 $ pour un employé américain, leur raisonnement est simple, délocalisation oblige pour faire encore plus de profit.

So if profits, trade and automation are not the driving forces, what is?

The major pressure to shift jobs abroad comes from the big hedge funds and private equity investors that have one goal only—to siphon as much wealth as possible out of companies like United Technologies. High profits, low profits or no profits, they pressure company after company to squeeze their costs as much as possible so there is more money available for the company to buy back its own shares.

Why? Because stock buybacks immediately raise the share price and give the big hedge funds an instant windfall.

Before a 1982 SEC rule change—a major turning point in the disastrous deregulation of finance—massive stock buybacks were illegal because they were considered stock manipulation and a major cause of the 1929 crash. Now, Wall Street extracts billions from this destructive activity. It's what drives runaway inequality. (For the definitive account see Professor William Lazonick's "Profits Without Prosperity," Harvard Business Review.)

CEOs cherish this process because they now derive the majority of their compensation through stock incentives. So by acting as Wall Street shills, they drive up the price of stock and become richer and richer themselves.(1)

Lecture complémentaire: Dérape : Profits sans prospérité

That won’t change after Mr. Trump takes office — especially when hourly pay in the Indianapolis plant is equivalent to what workers in Mexico make in a day.

“This is a spot solution,” said Mohan Tatikonda, a professor at the Kelley School of Business at Indiana University. “If it goes through it helps some Carrier employees for a period of time, but it doesn’t address the loss of manufacturing jobs to technological change, which will continue.”


 

Canada's Inflation Is Eating All Your Wage Gains

Extrait de: Canada's Inflation Is Eating All Your Wage Gains, And Then Some, The Huffington Post Canada  |  By Daniel Tencer , 11/25/2016

·       Nationwide wages down 0.9% in a year, adjusted for inflation

  • Canada shifting to lower-quality jobs
  • September was (sort of) a good month for employment

Inflation in Canada is minimal these days, but it's still stronger than wage growth, meaning wages are effectively falling.

The average weekly earnings of Canadians rose by a weak 0.4 per cent in September from the same month a year earlier, to $957.27, Statistics Canada said Thursday.

But the consumer price index for the same month showed prices rose 1.3 per cent over the past year, meaning that, adjusted for inflation, the average Canadian wage has fallen by 0.9 per cent in the past year

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Chart: Statistics Canada/HuffPost

Even not adjusted for inflation, wages are out-and-out falling in eight of 20 sectors covered by StatsCan, including construction, accommodation/food services, education, health care and even management.

Notably, oil, gas and mining wages have seen a strong bounce-back, up 4.6 per cent on the year. The fastest wage growth was in the finance and insurance business, where earnings are up 7.4 per cent in a year.

Wages are also falling in the oil-producing provinces — Alberta, Saskatchewan and Newfoundland. Alberta saw the largest wage decline, falling by 1.7 per cent in a year, or 2.2 per cent if you adjust for inflation. Albertans are earning about $20 less per week, on average, than they did a year ago.

Ontario's inflation-adjusted wage growth was -0.9 per cent for the past year, while British Columbia's was -0.8 per cent. This despite the fact these provinces account for much of the job growth in Canada over the past year.

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Wage growth by province. Chart: Statistics Canada

StatsCan says the softness in wages and declining working hours are due in part to “changes in the composition of employment,” a fancy way of saying job quality in Canada is on the decline.

The country, for the most part, is churning out part-time jobs. As of October, there were 124,000 (or 3.6 per cent) more part-time jobs in Canada than a year earlier, while the number of full-time jobs grew by a mere 15,500, nowhere near what's needed to keep up with growth in the working-age population.

A bright spot

One bright spot in the StatsCan survey is payroll numbers, which showed that Canada added a solid 65,200 jobs in September. That almost perfectly matches the earlier and more closely-watched Labour Force Survey estimate of 67,000 jobs added that month.

But the job quality problem persists: Most of the jobs created were part-time, StatsCan said.