TORONTO – Economic Development Minister Brad Duguid was putting a happy face on gloomy job figures Friday, saying it was all a question of, “two steps forward, one back.” I’m not so sure.
After two months of increases in employment, this province saw a drop of 34,000 jobs in November. That pushed the unemployment rate up to 7%.
While Duguid was optimistic about the future of manufacturing in this province, there are some stubborn, worrying signs that things just aren’t coming back.
This is the same government that’s always blamed a high Canadian dollar for the “hollowing out” of this province and blamed the loss of so many manufacturing jobs on a world-wide economic downturn.
Well, the Canadian dollar has dropped and the U.S. economy is showing strong growth. The rest of this country is chugging along at a better rate than Ontario. So what’s down the road?
“I think it’s always better for us when the Canadian dollar is down,” Duguid told reporters.
“My sense is manufacturing companies now and others are recognizing that it’s good that the Canadian dollar is down. It’s spurring more growth in manufacturing and manufacturing jobs are up, 11,600 this month,” he said.
He said we have to rely on more than just a low dollar to revive the manufacturing sector.
I think he’s whistling past the graveyard.
The future of automotive giant GM in this province is in doubt, with many fearing the company could cease operation in Oshawa in the next couple of years.
Duguid said his government has been in talks with GM in the past week and welcomes a home-grown Canadian CEO, Stephen Carlisle, who’s from Woodstock.
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