Blogs & Comment

Rising jobless rate undercuts Harper’s message

While it’s still too early to tell if Stephen Harper’s prediction that the Canadian economy will improve faster than America’s, the PM’s optimisticoutlook may have been a bit premature. Today, Canadians found out that our country’s unemployment rate hit 7.7% it’s a far cry from December 2007’s 5.9%rate (though still comparable to other months in recent history) and it’s a safe bet that that the percentage will keep climbing over the months ahead.
Since last October, 295,000jobs have been lost, and some economists predict we’ll see at least 50,000 layoffsper month until the end of the year.
While Harper might want people to think things will turn out fine, when you hear his right hand man, Finance Minister Jim Flaherty, say“we’re going to continue to see job losses. When one looks at the overall figures we’re going to see continuing deterioration for several months at least,” it’s hard to not to worry.