This article talks about the retailers in Yellowknife and how they are being affected by the job losses in Canada. The losses of the job are just not in Canada, in fact this is happening all around the world. This is mainly being impacted in big industries. Looking at the Statistics Canada shows that the rate of the unemployment rose to 7.7% during Feburary, up 0.5% from January. It is mentioned that January and Febuary caused the most affect in people's businesses. During the interviews made by the CBC News, Doug Witty said that "The retailer's side is a little soft, but it is not horrible yet." Witty also shared that he had to lay off 4 of his employees and close one of his business as well. He also had to reduce the inventory for the summer.
Connection:
In chapter 11, we learned that there's the beginning inventory and ending inventory. If someone reduces their inventory because of job losses, there will be less amount of beginning inventory and the merchandise purchased / sold, so the result will be that there will be less amount of ending inventory which would affect someone's business.
Conclusion:
In my opinion i think recession has changed a lot. Not just here in Canada but all around the world. People lost their job and there they are just sitting home helplessly, hoping that everything would go back to normal soon.
http://www.cbc.ca/canada/north/story/2009/03/13/nwt-retail.html
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