August 2009 as the global credit bubble explosion took hold.
Stats Canada published some more worrisome data about the alleged “recovery”, showing that the Employment Insurance was up 5.1% from last month (almost 39,500 more).
During the second quarter of 2009, the number of beneficiaries increased 18.8%, down from the growth rate (+25.2%) during the first quarter. This trend is similar to that shown by the Labour Force Survey, which recorded a rate of decline in employment in the second quarter that was much reduced from the decline in the first three months of the year.
So the acceleration is lowering, but the numbers still are accelerating. All these claimants mean no chance of a surplus coming from the EI fund (which in previous years has been used to pay down the deficit and/or the debt).
On the Positive Side
I filled in my last EI claim on line this week, and I am now no longer on this list, even though I wasn’t receiving benefits (due to my severance). This was a good feeling.