December 6, 2024
FOR IMMEDIATE RELEASE
Ottawa, ON – Today, Statistics Canada released their Labour Force Survey, showing that the unemployment rate had increased by 0.3 points to 6.8 percent in November.
Excluding the pandemic, this is the highest Canada’s unemployment rate has been in eight years, as more Canadians had to find fewer jobs. In fact, Canada’s labour force grew by 137,800, which is more than double the gains in jobs. Canada’s unemployment rate has been growing since April 2023, rising by 1.7 percentage points.
Worse still, this report showed that only 12% of new jobs were created in the private sector. This is a direct result of Trudeau’s assault on businesses and private industries with his endless taxes and red tape. According to the Fraser Institute, Trudeau’s carbon tax will lead to 57,000 fewer jobs by 2030. And according to economist Jack Mintz, the capital gains tax hike by the NDP-Liberals will reduce Canada’s GDP by $90 billion, real per capita GDP by 3 percent and employment by 414,000.
Over the last year, Canada only created 329,000 jobs as the country’s working population increased by 600,000. This means the pool of workers has grown at nearly twice the pace as jobs are created, leaving more and more Canadians unemployed.
This follows another Statistics Canada report from last week that revealed that Canada’s GDP per capita has declined for six consecutive quarters while third quarter GDP slowed sharply to 1 percent annualized.
Justin Trudeau has devastated Canada’s economy. Only Common Sense Conservatives will axe the tax and fix the budget to bring home powerful paycheques for all Canadians.
