Latest job numbers disappointing: Lantz
CHARLOTTETOWN – New job numbers from Statistics Canada showing fewer available jobs and higher unemployment in Prince Edward Island for July are disappointing, says Progressive Conservative Leader Rob Lantz..
“Summer is a time of peak employment in the primary industries of tourism, farming and fishing that underpin our economy. So learning that the Island economy lost 800 jobs in July is disappointing. Even more so when the longer term trend shows a loss of 2300 jobs since October,” says Lantz.
Lantz pointed out that provincial budget passed last month is based on aggressive projections for economic growth and that this trend may jeopardize the accuracy of those budget projections.
“The provincial budget is relying heavily on growth to lower the deficit, an approach bond rating agencies have expressed caution about. These latest job numbers don’t reflect the impact of a series of budget cuts to the non-profit sector so this trend of negative job growth may yet continue,” says Lantz.