More Canadians are staying unemployed for a longer time.
The Trudeau government is expecting the Canadian economy to weaken – but they aren’t telling Canadians about it publicly.
That’s according to a government memo prepared for Finance Minister Bill Morneau, which expects lower growth and lower job creation.
While the government claimed the short-term numbers unemployment numbers were good, there was concern expressed regarding “the long-term unemployment rate and wage growth.”
As pointed out in a recent report, “The note underlined wage growth that’s “still relatively modest by historical standards,” a lethargic employment rebound in Alberta since the 2014 oil-price collapse and a higher-than-anticipated share of unemployed people who have been looking for work for at least six months.”
What makes this interesting is how it contrasts with the narrative the government has tried pushing about the economy.
For example, the government has tried to spin recent wage growth as ‘historic,’ while the note says it’s “still relatively modest.”
In fact, wage growth had reached 5% under the Harper government, a number that hasn’t been matched by the Trudeau Liberals.
The reality is that Justin Trudeau and Bill (Moneybags) Morneau, inherited a very strong economy from Stephen Harper. The budget was balanced, the business environment was competitive, and there was tremendous potential for the country. Trudeau has wasted all of that, slamming the economy with carbon taxes, and regulations that have pushed over $100 billion in investment out our country.
And now, with Canada on the outside looking in with NAFTA negotiations, the economic future is looking bleak so long as Trudeau remains in power.
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