10 years ago
3
Wal-Mart to invest $500 million in Canada, create 7,500 jobs
Wal-Mart Stores Inc said on Tuesday it would invest about $500 million this year to strengthen its presence in Canada, creating more than 7,500 jobs including construction.The investments
Continue Reading
http://www.reuters.com
Join the Discussion
Walmart does not create jobs. At first there is slightly more money in the community because of temporary construction jobs and possibly lower prices, but then because of its logistical efficiency and low prices, the Walmart jobs begin to displace an even greater number of local jobs, and its compensation strategies ensure that there is less money in the community - which will instead be going into the pockets of one the the wealthiest families in the world.This effect is exacerbated as it will play hardball on property taxes (don't know how that is structured in Canada). When the dust settles there will be fewer jobs paying less, and a lower tax base.
Perfectly stated. Walmart is not only bad for local jobs but also bad for the local economy as a whole. Mom and pop shops keep the money within the community, Walmart does not.
Wal-Mart is the bedbug of retail.