For example, these days, if we are to pick the big loser in the Canadian economy, listening to the media at least, most of us would say Ontario. The manufacturing sector, the backbone of Ontario’s economy is having a tough time. The high Canadian dollar has put the boots to competitiveness in exports.
NDP Leader Thomas Mulcair is being figuratively burned at the stakes in the Globe & Mail, western newspapers and on the CBC for his comments about “Dutch Disease”. He has had the temerity to ask why unchecked tar sands exploitation is so good for Canada when it forces the value of the Canadian dollar even higher, hurting those who produce goods for export, most of them situated in Ontario.
This we are told has turned Ontario into a “have not” province.
The other side of the coin, we are told is, Saskatchewan. Brad Wall’s favorite two words are innovation and of course, “Boom! Boom! Boom!”
Potash is hot!
|National Post Graphic|
- Mining is hot!
- Gas is hot!
- Oil is hotter!
Not so fast. New Statistics Canada figures tell us a slightly different story.
If we take a look at the “percentage of the population claiming Employment Insurance benefits”:
- Our poor cousins in Ontario come in at 4.41%
- Powerhouse Saskatchewan is only slightly less at 4.28%
Is this how we define the difference between a boom and a bust?
Isn't it time we started paying attention?