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Jobs and Growth Still A Priority

October 15, 2012

Your federal government remains focused on creating jobs and economic growth. A growing economy ensures the tax revenues necessary to support important public services like healthcare and education that we all count on. That is why creating jobs and economic growth remains the government’s top priority.

Statistics Canada just released the latest job numbers. In the month of September, 52,100 net new jobs were created, with the private sector creating nearly 90% of that new employment.

Since July 2009, almost 820,000 net new jobs have been created. Not only have we recovered all the jobs lost since the 2009 recession, but employment is now higher than before the recession. Of these jobs, over 90% are full-time and nearly 80% are in the private sector. And these new jobs are good jobs. Tiff Macklem, Senior Deputy Governor of the Bank of Canada, recently said that more than 90% of new jobs being created are in industries that pay average or above average wages. These industries range from construction, utilities, health care and science, and technical services.

Canada’s record on job growth stands in stark contrast to other nations. The United States has only recovered 50% of the 8.8 million jobs lost during the recession. Our national unemployment rate rests at 7.4%, while unemployment in the Eurozone is expected to reach 12% in 2013, and in countries like Spain and Greece, unemployment is reaching an alarming 25%.

While Canada has an enviable record on job creation, more needs to be done. That is why the government will continue to implement our Economic Action Plan, which includes such measures as the Hiring Credit for Small Business, the most ambitious expansion of trade through new trade agreements, and record investments in research and development.

Although Canada is in a position of relative strength, the ongoing sovereign debt crisis in Europe and the continued turmoil in energy markets due to the Middle East unrest all pose risks to our continued economic recovery. We are not an island in this global economy, and the government continues to maintain vigilant as we manage the short-term needs of our economy, while ensuring that our long-term goals are met.

The United States Chamber of Commerce recently praised Canada for having, “recovered faster and more robustly from the global recession than nearly all other major economies… due to a series of smart policy decisions.” Moving forward, the government will build on these accomplishments by keeping taxes low and eliminating the deficit, while attracting high-quality jobs to ensure that Canada stays prosperous over the long-term.

I encourage you to contact me if you have any questions about the federal government’s plan for jobs and growth. You can contact me by phone at 866-878-5556 or by email at michael.chong@parl.gc.ca.


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