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+--- Thread: General Business Updates and News (/showthread.php?tid=63)
RE: General Business Updates and News - DHLawrence - 11-03-2016
Cambridge Towel is closing; 120 unionized workers out the door.
http://www.therecord.com/news-story/6945707-cambridge-towel-plant-closing/
RE: General Business Updates and News - BuildingScout - 11-05-2016
Quote: On the local front, both Waterloo Region and Guelph saw their unemployment rates continue to trend downward.
Waterloo Region’s rate for October was measured at 5.1 per cent – its lowest level since July 2015 – while Guelph’s fell for the fifth straight month, sitting at 4.7 per cent.
http://kitchener.ctvnews.ca/unemployment-rates-fall-in-waterloo-region-and-guelph-1.3146031
Since August I've seen quite a few "help wanted" signs in restaurants, coffee shops and supermarkets. I've read somewhere that economists consider this a sign of being close to full employment.
RE: General Business Updates and News - panamaniac - 11-06-2016
When you look at the figures beyond the unemployment rate, however, things seem a bit less rosy - labour force, number employed, and participation rate are all down.
RE: General Business Updates and News - tomh009 - 11-06-2016
Participation rate (number employed is really labour force size x participation rate x (1 - unemployment rate)) is back up to 65.8% after a dip this summer, roughly where it has been since late 2014. Not as good as the peak of 68%, but considerably higher than the roughly 63% in the US.
RE: General Business Updates and News - BuildingScout - 11-06-2016
(11-06-2016, 08:33 AM)panamaniac Wrote: When you look at the figures beyond the unemployment rate, however, things seem a bit less rosy - labour force, number employed, and participation rate are all down.
This is incorrect. All three of those are up. Interestingly enough, participation rate was predicted to go down even before the latest economic downturn. In this 2007 statscan study the optimistic (high growth) participation rate forecast for 2016 is... 66%
RoW seems to be firing in all cylinders and Ontario overall is doing ok when it comes to unemployment. Even Alberta seems to have stabilized overall, with Edmonton reporting progress while Calgary still very much in trouble with the highest metropolitan unemployment rate in the country at 10.2%
RE: General Business Updates and News - rangersfan - 11-06-2016
interesting article on ASI a Waterloo based company that plans to push forward even after the loss of it's visionary and founder.
http://m.therecord.com/news-story/6948251-waterloo-company-will-carry-on-founder-s-legacy-in-wake-of-his-sudden-death
RE: General Business Updates and News - rangersfan - 11-08-2016
PiinPoint joins the growing cluster of high tech companies in Downtown Kitchener. The article also mentions similar recent moves by Atomic Labs, Plum, Growth Corp and Scintilla Design.
http://m.therecord.com/news-story/6952186-piinpoint-finds-ideal-spot-in-downtown-kitchener
RE: General Business Updates and News - Brenden - 11-17-2016
Seven Waterloo Region firms on Technology Fast 50 list
http://www.therecord.com/news-story/6969192-seven-waterloo-region-firms-on-technology-fast-50-list/
#8 Sortable 1,705%
#10 Axonify 1,520%
#17 Clearpath 662%
#19 Magnet Forensics 587%
#24 Aeryon Labs 494%
#35 eSentire 361%
#37 Dejero Labs 332%
RE: General Business Updates and News - JoeKW - 11-19-2016
Where did all the people who were working in manufacturing go? Did they go from decent paying jobs to minimum wage service industry jobs?
RE: General Business Updates and News - tomh009 - 11-19-2016
(11-19-2016, 11:41 AM)JoeKW Wrote: Where did all the people who were working in manufacturing go? Did they go from decent paying jobs to minimum wage service industry jobs?
Well ... there is no simple answer. There are still some people in manufacturing, but many of those manufacturing jobs are also very different from the traditional ones (think ClearPath or Aeryon -- or even Toyota).
But the traditional jobs didn't disappear overnight, it has taken decades. By the 80s and 90s, manufacturing employment was already tapering off, so the manufacturing workforce was aging, as fewer young people were being hired. So today, 20-30 years later, many of those people are already in retirement age, and either not working or doing something like Home Depot part time. Others, yes, have had to find other jobs, often in another sector, and often not paying as well. And some are still unemployed, although not huge numbers, as you can see by the relatively low unemployment rate.
As an aside, while the service industry in general doesn't pay like, say, traditional auto manufacturing (high wages plus defined-benefit pensions) it's certainly not all minimum-wage, either.
RE: General Business Updates and News - panamaniac - 11-19-2016
Isn't the percentage of people employed in manufacturing in K-C-W still quite high by contemporary Canadian standards? I thought I saw something last year about 20%+ of the total labour force.
RE: General Business Updates and News - tomh009 - 11-19-2016
Given that Toyota alone employs roughly 5000 people in Cambridge, it's quite possible.
RE: General Business Updates and News - darts - 11-20-2016
(11-19-2016, 11:41 AM)JoeKW Wrote: Where did all the people who were working in manufacturing go? Did they go from decent paying jobs to minimum wage service industry jobs?
pretty much, maybe a dollar or two more than minimum wage but nothing like the benefits, pay or hours as before
RE: General Business Updates and News - rangersfan - 11-20-2016
The world of manufacturing has changed significantly in North America over the past 15 or so years. Especially locally where even more traditional manufacturing has seen technology make vast changes to everyday business. I think in general manufacturing jobs have become more specialized and in some cases technology has helped bring jobs back to North America or has helped to retain them.
RE: General Business Updates and News - DHLawrence - 11-20-2016
But thanks to automation, the work brought back requires fewer workers.