Workforce participation rate falls to lowest level in almost 20 years.
More concerning economic numbers have been released.
In May, the Canadian economy lost 7,500 jobs. While part-time jobs were up 23,500, a total of 31,000 full-time jobs were lost.
Additionally, the workforce participation rate (considered by many a more accurate gauge than the unemployment rate) fell to 65.3%. That’s the fewest number of workers as percentage of the economy since October of 1998.
Further, the economy has now lost jobs in back to back months (1,100 were lost in April), the first time that’s happened since 2014.
This is just the latest in a series of concerning economic numbers, as Canada’s economy is weakened by the carbon tax, and the collapse of investment – being made even worse by the Trans Mountain debacle.
Thankfully, the economy could be set for a boost with the Ford PCs winning a majority government in Ontario. Now, we will see how pro-growth policies at the provincial level can do when burdened by the anti-growth policies of the Trudeau government.
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