Friday, September 14, 2012

NOT ALL BAD NEWS FOR DUNDERDALE



As bad a couple of weeks as it has been for Premier Dunderdale, there was some good news on the economic front.

That news is not going to make headlines as the storm clouds of internal party dissent and poor polls roll over the Confederation Building.

Newfoundland and Labrador continues to lead Atlantic Canada in economic growth and job creation. Since August 2009, employment in Newfoundland and Labrador has grown by nearly eight per cent.

Juxtapose this against the weak employment growth in the other Maritime provinces and you some reason for optimism.

Of course, we really need to diversify our economy and foster job growth in other sectors.

1 comment:

Factcheck said...

An excellent source for basic information on the state of the NL economy is StasCan's Labor Force survey numbers.

NL has the highest provincial rate of unemployment and St. John's the highest unemployment of any provincial capital city.

Other economic outlooks about growth are not giving a complete picture. Most of the economic growth is from unearned oil revenues, not productivity.

This unearned wealth allows govt to pay down debt and do infrastructure work, but for the large amount of dollars coming in, the number of jobs for people is disproportionately low.

Great if you are on the Avalon.