New employment figures from Statistics Canada reveal a sagging job market in
Over the past year, the province has shed 5,600 jobs, a dip of 1.5 per cent. In fact,
“There are fewer people working in
Currently, the unemployment rate in
“The numbers are pretty bad,” concludes
The problem, says Murrell, is that
Fewer people working means less tax revenue and increased demand for social assistance and training and education programs, he said. “Your costs are going up and your revenues are going down,” said the think-tank president and CEO. “It’s going to be remarkably difficult for the Conservatives to meet their promise of balancing the budget before the next election. I don’t see how it’s going to happen.”
And Cirtwill says the Tories have little power to reverse the dour labour market, except through making the province more competitive for businesses.
“No politician has ever created a job. They don’t hire people. Companies and entrepreneurs hire people,” he said. “Unless they’re starting up three new departments, they can’t honestly come out and take credit for creating any jobs.”
Overall, the Statistics Canada numbers reveal that September brought employment declines in
The national unemployment rate fell slightly to eight per cent as fewer people, particularly youth, participated in the labour market, the agency said.