Big July job losses threaten recovery

Harper Conservatives ignore economic warning signs as 1.4 million now jobless

TORONTO – A rising unemployment rate and job losses across the country are the latest evidence our economy is shakier than Conservatives claim, according to New Democrat Finance critic Peggy Nash.

Latest numbers released by Stats Can show Canada was hit by the second worst monthly job losses since 2009. With over 50,000 people losing their jobs, and over thirty thousand net jobs lost, our unemployment rate has now ballooned to 7.3%.

“We have witnessed three consecutive months of weak job numbers – and now we see some of the worst monthly job losses in three years. But Conservatives continue to ignore the warning signs,” said Nash “And their short-sighted cut first and answer questions later budget will only make the problem worse, not better.”

Today’s numbers paint a picture of an economy still struggling to recover from the 2008 collapse. With almost thirty thousand jobs lost in Quebec, almost 15,000 in B.C. and over three thousand in Manitoba and Newfoundland, signs of a weak economy can be seen from coast to coast to coast.

“Hardest hit have been the self-employed and young people—vulnerable workers who often don’t even qualify for EI. Conservatives are mismanaging the economy and putting ideological-driven cuts ahead of shoring up a weak economy,” said Nash. “Canadians are looking to Minister Flaherty to stop congratulating himself and start taking action to help.”

“Conservatives have an opportunity to meet with Premiers this fall about the economy and use their Economic Update to take action,” concluded Nash. “Or will we just see a repeat of their do-nothing 2008 Economic Update?”