Here are two interesting stories on jobs which is quite surprising. You can click on the respective headlines below and they will open up in a new window. I do find the news about these additions of jobs in a recession to be quite interesting. Below the story headlines I will tell you why.
America adds 103, 000 in September
Canada adds 61,000 jobs in September
America’s population is over 300 million people and Canada’s is about 33 million. Yet Canada added 61,000 jobs and the US only 103,000. Obviously there is a recession like atmosphere but relatively by comparison Canada is doing quite well.
Why?
Much in part because Canada got its spending under control in the 90s but just as important it has appropriate regulations concerning its financial institutions. I say appropriate because I certainly believe it’s very possible to over-regulate or incorrectly regulate. Unfortunately when these mistakes are made in regulations then you fuel the large groups of people opposing government incursion. But when regulations are done correctly and not excessively they can enable the free market. This is key for capitalism.
If you have had the opportunity to deal with bureaucratic institutions he US you probably have noted that it can be quite unpleasant. There sometimes does not appear to be that reasonableness that one might expect. Not that the same is never true in Canada, but I believe Canada pales in comparison. There are so many laws and regulations and institutions permitting and prohibiting various activities that there is in many senses more latitude in Canada. Obviously there are differences between Canadian and US law. Canada is common law (except Quebec which is the Civil Code, Louisiana has some French and Spanish heritage in law) and differs from US law even though they have the same Common Law origins, and our federations differ. Click here for more information about the US Federal Government and here for info on the Canadian. The US is certainly a great melting pot of regulations. Many people think of the US as being freer than Canada but in many ways it is not. I think that Canadians are coming to see the “The True North strong and free!” which can be an example for other countries. Where as many in the US say it is spreading democracy and freedom, Canada can be an influencing example of common sense.