The Effects of Pandemic on our Service Industry.

[niwell]

I personally know plenty of people in the service industry who are in my income bracket and have similar, if not more responsibility than I do. They are fine for now, but things could get bad very quickly. I mentioned this in the other thread but I’m taking advantage of my situation to try and support these businesses.

[GreaterMontréal]

The service industry is the most important sector in Canada. Everything that you buy comes from the service industry.

Tertiary sector of the economy

75% of Canadians jobs, and 78% of our GDP.

[whatnext]

Originally Posted by kel

The service industry should be the least of societal problems concerning COVID-19. Yes there is people who depend on the pay check just like every other industry but the service industry is mostly an entry level industry where people are moving up to other industries and careers. I’m sure a higher portion of people within the industry will be fine as daddy will pay the bills if it comes down to it.

LOL, seriously? Do you work in some tarsands-related business with only "real" jobs?

Service related industries encompass a huge swathe of jobs. Not every server is some university student who can get bailed out by mom & dad, and certainly chefs aren't . Hotel jobs are often a well-paying union job for for new Canadians. Then there's all the transportation jobs feeding those industries.

[Acajack]

Originally Posted by MonkeyRonin

What a fucking stupid thing to say. The service industry isn't just a bunch of teenagers flipping burgers after school. It's a massive industry that employs millions of Canadians in a diverse range of roles & incomes - everything from chefs to uber drivers to hotel managers to cleaners to entertainers. Most of whom very much need those jobs to the pay the bills & provide for their families. And all of whom also spend their money on other sectors of the economy that will take a hit as a result.

Totally agree. I could not believe that when I read it.

[ssiguy]

Originally Posted by kel

The service industry should be the least of societal problems concerning COVID-19. Yes there is people who depend on the pay check just like every other industry but the service industry is mostly an entry level industry where people are moving up to other industries and careers. I’m sure a higher portion of people within the industry will be fine as daddy will pay the bills if it comes down to it.

Besides the fact that your rather flippant attitude towards these workers is insensitive, the reality is that most people in the service sector are adults.

There are MILLION of Canadians who work in the sector and millions more who's livelihoods depend upon serving them with everything from supplies to transport to maintenance to professional services. When these millions potentially become unemployed, the other sectors will also collapse due to a lack of business and break downs in the supply chain. We live in a CONSUMER based economy and when those consumers can no longer buy or spend then the entire economy implodes. When all these people become unemployed and have to start declaring bankruptcy all those millions of HELOC, VISA, car loans, and mortgages are no longer paid and the banks are out billion of dollars and then it also becomes a financial crisis. It's not called an economic "system" for nothing.

My single-parent sister is in consulting and event planning and due to the dry up of all conventions her once fairly lucrative income is coming to an end. She has received no new orders and will be without any income within 2 months.

[suburbanite]

Originally Posted by niwell

I personally know plenty of people in the service industry who are in my income bracket and have similar, if not more responsibility than I do. They are fine for now, but things could get bad very quickly. I mentioned this in the other thread but I’m taking advantage of my situation to try and support these businesses.

Amen. St paddy's day events got cancelled but doing an impromptu bar crawl today to try and support some local establishments.

I hope owners and employees are able to ride this out.

[casper]

Originally Posted by suburbanite

Amen. St paddy's day events got cancelled but doing an impromptu bar crawl today to try and support some local establishments.

I hope owners and employees are able to ride this out.

I am sympathetic to the service industry and think it is a vital that it service.

However a bar crawl where you visit multiple establishments in one night is the best way of spreading any virus around. Picking your favorite place and spending evening in one establishment is probably a better strategy.

[cabotp]

Originally Posted by ssiguy

Besides the fact that your rather flippant attitude towards these workers is insensitive, the reality is that most people in the service sector are adults.

There are MILLION of Canadians who work in the sector and millions more who's livelihoods depend upon serving them with everything from supplies to transport to maintenance to professional services. When these millions potentially become unemployed, the other sectors will also collapse due to a lack of business and break downs in the supply chain. We live in a CONSUMER based economy and when those consumers can no longer buy or spend then the entire economy implodes. When all these people become unemployed and have to start declaring bankruptcy all those millions of HELOC, VISA, car loans, and mortgages are no longer paid and the banks are out billion of dollars and then it also becomes a financial crisis. It's not called an economic "system" for nothing.

My single-parent sister is in consulting and event planning and due to the dry up of all conventions her once fairly lucrative income is coming to an end. She has received no new orders and will be without any income within 2 months.

This is why there is a social safety net. To protect those when the economy has slowed down.

[vid]

Originally Posted by kel

The service industry should be the least of societal problems concerning COVID-19. Yes there is people who depend on the pay check just like every other industry but the service industry is mostly an entry level industry where people are moving up to other industries and careers. I’m sure a higher portion of people within the industry will be fine as daddy will pay the bills if it comes down to it.

Back when Thunder Bay had a forestry sector, its 7,500 workers had this attitude. They're all gone now. But that's none of my business.

Actually—and you will find this very funny, Kel!—a lot of people working in Thunder Bay's service industry are men in their 40s to 70s (yes, 70s!) who used to have very well paying and stable jobs in one of the country's most important natural resource sectors until it vanished overnight.

[Dr Awesomesauce]

Are people still going out to bars, restaurants, cafes, malls, etc.?

Maybe I'm being hysterical (I am mildly germophobic, after all), but supporting local businesses seems very 'last week'. It's time to lock ourselves away until things are more under control, is it not?

Family, friends, and colleagues are still coming across as very nonchalant to this crisis. Is it misunderstanding? Is it denial? In their defense, there's little doubt our leaders have done a dreadful job of transmitting accurate info about Covid to its citizens.

[GeneralLeeTPHLS]

I hosted an event tonight at a local bar and family restaurant in my area. Three people told me they may come by....and it just ended up being me and one other person. We had a good talk, although this bar, usually brimming with people, was rather dead...definitely about 30-40% of its regular business, especially for a Saturday night (Boston Bruins and Leafs were supposed to play tonight as well...). This virus is really making me wonder how I'll be paying rent and bills in the next month or two....as someone who works in the service industry. I'll definitely be using my income tax refund to help.

Not sure what's kel's problem, that was one hell of a stupid thing to say.

[kwoldtimer]

One thing people could do to help restaurants and other businesses would be to buy gift certificates directly from the business now, with a view to using/gifting them after things return to normal. That assumes, of course, that the business will still be around in a few months ....

[Djeffery]

Cadillac Fairview is reducing hours at it's malls across the country. I saw on the Atlantic thread that another operator has reduced hours at it's properties as well. I imagine we will see most shopping centres on reduced hours very soon. So long as the grocery stores don't reduce hours though lol. I think the ones around me could be running 24 hours right now if they had the people and stock lol.

[LakeLocker]

Originally Posted by GreaterMontréal

The service industry is the most important sector in Canada. Everything that you buy comes from the service industry.

Tertiary sector of the economy

75% of Canadians jobs, and 78% of our GDP.

I wondering how much of that remaining 25% has to do with food production, transportation and energy?

We're about to have an extreme oversupply of oil, cars, electronics, steels, ores etc.

Seriously who the hell is buying a new car right now? Who can afford the risk and why would you take the risk when we are bound for a market flooded with used vehicles.

The only hope is that government start the mass stock piling of cars, oil, iron etc on a scale that to this day has only been seen in China.

[whatnext]

Originally Posted by LakeLocker

I wondering how much of that remaining 25% has to do with food production, transportation and energy?

We're about to have an extreme oversupply of oil, cars, electronics, steels, ores etc.

Seriously who the hell is buying a new car right now? Who can afford the risk and why would you take the risk when we are bound for a market flooded with used vehicles.

The only hope is that government start the mass stock piling of cars, oil, iron etc on a scale that to this day has only been seen in China.

I would buy a new car right now. There are probably some fantastic deals out there.

[Innsertnamehere]

Originally Posted by whatnext

I would buy a new car right now. There are probably some fantastic deals out there.

Plus lower interest rates means car loans will be dirt cheap.

If you are confident of your job stability, a recession can be a great thing.

[GreaterMontréal]

Banks will start to think twice before lending money. With the economic slowdown, they won't lend to someone unless they are assured about getting paid long term. 0.5% interest rates, that's worst case scenario, we are not even close to the bottom, the interest rates will probably drops even more.

[whatnext]

Some stats on the size of the service industry in BC:

....“In Vancouver, more than most cities, restaurants are the culture,” says Justin Tisdall, the owner and operator of the fast-casual restaurant Juke Fried Chicken and Beetbox. “It’s a viable career, to be a server or to be a chef in one of the most passionate food cities in North America.”

It all reminds Belcham of 2009, after “the markets crashed and the world came to an end, it seemed like at the time,” he says. “But this is different. Back then it was just about money. You can’t just throw money at this.”...

...And however COVID-19 plays out, an enormous number of restaurant workers will be affected. According to 2018 figures from Restaurants Canada, 191,900 people work across some 14,500 restaurants, bars and caterers in B.C. This comprises seven per cent of B.C.’s workforce — and a quarter of workers between the ages of 15 and 24.

Those numbers increase significantly when resort, tourism and hotel workers are included. And that has the B.C. Hospitality Foundation increasingly concerned, especially since the organization relies on people in the industry for the donations they use as last-resort funding for hospitality workers dealing with medical issues...(bold mine)

https://theprovince.com/life/food/ho...2-140cdd78b73b

[LakeLocker]

Originally Posted by Innsertnamehere

If you are confident of your job stability, a recession can be a great thing.

And that would be?

[JHikka]

Originally Posted by Dr Awesomesauce

Maybe I'm being hysterical (I am mildly germophobic, after all), but supporting local businesses seems very 'last week'. It's time to lock ourselves away until things are more under control, is it not?

I'd say so. Can't imagine going out to bars for St. Patrick's Day is a great idea.