Job Losses

P.E.I. sees biggest rise in job losses in region
Last Updated: Friday, January 9, 2009
CBC News
New job numbers released Friday show unemployment up across the country, with P.E.I. experiencing the biggest jump in Atlantic Canada.
Unemployment rate
N.B.
8.6%
N.L.
13.7%
N.S.
8.2%
P.E.I.
11.8%
The unemployment rate on the Island rose to 11.8 per cent in December 2008, up from 10.7 per cent in November. Unemployment was up 0.4 percentage points in Nova Scotia, steady in Newfoundland and Labrador and actually fell 0.1 percentage points in New Brunswick.
Across the country, 34,000 jobs were lost last month, almost half of those in Alberta. That province, however, retains the lowest unemployment rate in the country at 4.1 per cent.
The national unemployment rate is up to 6.6 per cent.
My Comments:
11.8% is quite high; I am still waiting for an economic development strategy for Prince County which was discussed with the new government in 2007 when they were elected. I hope there is a plan to weather the storm; I know the Province is planning some major infrastructure projects which will hopefully keep our trades people working.