Description: The Canadian economy took a jobs hit in August. The unemployment rate climbed to 6 per cent with a net job loss of 51,600 on the month. Losses in the part-time sector seemed to be a big factor in the decline. Alberta moved up in jobs while Ontario slipped backwards. In New Brunswick, a province in the midst of an election campaign, one would suspect the incumbent government would not have been pleased to hear the news that it had lost 1,000 jobs.
Date: September 7, 2018
1) Did you have any first-person knowledge of this jobs decline in August? That is, did you or any of your workmates lose employment that month?
2) If you were a political leader in a province like New Brunswick that had lost jobs, how would you respond to this concern?
3) In chapter two of Wiley’s Managerial Accounting: Tools for Business Decision Making, we learn about various cost concepts. Would you classify wages for a manufacturer as variable costs, fixed costs, or mixed costs?