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

Source:  cbc.ca

Link: https://www.cbc.ca/news/business/canada-jobs-unemployment-rate-full-time-work-1.4814183

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?