October job numbers cloud any signs of economic progress

 

Kensington  –  Signs of economic progress are hard to find when the Island economy continues to lose full time jobs at an alarming pace, says Kensington-Malpeque MLA and Opposition Economic Development and Tourism Critic Matthew MacKay.

“There are 4300 fewer full-time jobs available for Islanders last month than there were in October 2015. It’s hard to see how we are making progress with the economy when we are losing hundreds of jobs each month and another 800 full time jobs lost last month. These job losses are hurting Island families and communities,” says MacKay.

Newly released data from Statistics Canada for the month of October shows that the unemployment rate for Prince Edward Island spiked to 11.7 per cent, largely due to a loss of 800 full-time jobs. Year to year the Island economy has shed 4300 full time jobs between October 2015 and October 2016.

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