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Inaction on stimulus not an option…

…when you see numbers like these:

Canadians lost 71,000 jobs in November – almost triple expectations – and the unemployment rate crept up to 6.3 per cent, as Ontario employers felt the harsh impact of the U.S. recession.That’s the biggest month of job losses since the recessionary period of 1982, and puts the unemployment rate at its highest point since November, 2006.

…and when more of that may be coming, because of the spillover effect from the US.. specifically, the newest report that has come out saying that Over half a million jobs were lost in November in the U.S.:

U.S. employers axed payrolls by 533,000 jobs in November, the most in 34 years and far more than expected, government data on Friday showed, as the year-old recession hammered every corner of the U.S. economy…The dismal data sparked calls for aggressive government action to shore up an economy that appears to be facing its deepest downturn since the early 1980s. “This jobs picture painted today is staggering, and it should be all the evidence Washington needs to act swiftly and decisively to shore up this economy,” said Sen. Charles Schumer, a New York Democrat who chairs the congressional Joint Economic Committee.

Canada should also be doing the same, and if the Conservative government fails to do that in its January 27 budget after its prorogue timeout, then regardless of any other factor, it should be brought down, and a government that will be aggressive in tackling the economy’s problems should replace it.

1 comment to Inaction on stimulus not an option…

  • roll tide

    Commodity prices are going to hurt the Canadian economy. The blow will be somewhat softened for the manufacturing and retail sector due to the devaluation of the Canadian dollar.

    This has nothing to do with Harper.

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