(WINDSOR, ON) – Canada’s Chamber of Commerce is concerned about the latest report from Statistics Canada showing more lost jobs across the country. There were 88,000 less in January, the steepest single-month job loss since 2009. Ontario alone lost 53,300 part-time jobs during the month.
The Chamber is not surprised at the numbers. It says it has been warning that government spending is becoming a threat to the nation’s prosperity.
While it would be a mistake to assume that one month’s figures necessarily indicate a trend, January’s dramatic decline in jobs should remind Canada’s governments that investment and jobs are at risk. – Canadian Chamber of Commerce
The Chamber said it wrote to Prime Minister Justin Trudeau and provincial premiers last July. The message seems to have been predictive. The Chamber warned the political leaders about, “the serious cumulative impact of the growing burden posed by fees, taxes, and regulations the private sector is being asked to bear.”
In the letter, the Chamber, “pointed out that, while Canadian governments continue to pile an ever-increasing burden onto Canadian businesses, our competitors are cutting the tax and regulatory burden on theirs.”
Since we sent our letter, the United States has undertaken the most sweeping tax and regulatory reforms in over a generation, all of which are designed to attract investment and jobs, while our governments have continued moving in the other direction. – Canadian Chamber of Commerce
Governments, said the Chamber, may ignore competitiveness, but investors won’t be as ignoring.
“Continued inaction risks the futures of families and businesses across Canada,” said the Chamber, adding that current job loses, “should be a wake-up call. Now is the time for us to take the initiative and build a winning economy for all Canadians.”
Windsor’s unemployment rate actually dropped in January, moving from 6 per cent down to 4.6 per cent. But, the Windsor-Essex Regional Chamber of Commerce did not see this as good news. In a related news release, it cautioned that, “Ontario’s historically low unemployment rate is a red herring, as more individuals remove themselves from the workforce or simply give up the search.”
The local Chamber was commenting on the just released second annual Ontario Economic Report which revealed nearly 50 per cent of its members report a lack of confidence in the province’s economy.
“The percentage of Ontarians not participating in the labour force is at an all-time high of 35 percent, contributing to employers’ on-going struggle to attract talent,” said WERCC. The report also points out that Canada’s total exports as a percentage of the GDP has been significantly deteriorating for 15 years.
“This important report identifies key vulnerabilities within our regional and provincial economy, and provides decisions makers with the understanding needed to find solutions that will drive our economy forward,” said Windsor Essex Chamber chief executive Matt Marchand.