Sunday, November 6, 2011
Euro Crisis Blamed for Canada's Hefty Job Losses
This is an interesting article that gives a good example of how the Euro Zone debt crisis is affecting countries all over the world. The article mainly focuses on unemployment in Canada which grew from 7.1% to 7.3% last month. The unstable economies in Europe and the United states are reasons for a dip in business confidence and the lack of hiring by Canadian businesses. The article gives a number of interesting statistics of different economic indicators, like value of building permits.
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It will be interesting to see how much the economic crisis in Europe will effect the US economy. If Europe truly does slip into a recession, will the United States economy follow behind shortly after? How heavily does the US economy rely on the European economy and could we keep afloat without it?
ReplyDeleteIt is interesting to see how different countries can effect others all over the world. In one giant world market, it is really true that ones poor economy can have an impact on others. I would have never guessed that Canada, of all countries, could play such a part in European struggles.
ReplyDeleteThis article shows how due to all the trading that goes on between countries, the economic downfall of a country or group of countries can affect a country that seems distant. All the problems in Europe are clearly affecting the rest of the world in a negative way, shown in this article through its effect on Canada. This is not surprising when one thinks of all the trading between countries that happens in the world today.
ReplyDeleteIt makes sense that the Euro debt crisis would be affecting other countries outside the Euro zone since everything is connected to each other thru trade and globalization.
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