Top Left Header
Header
News
Arrow
Title - Guy Lauzon
Follow OurHometown.ca on... Follow Us on Facebook Follow Us on Twitter Follow us on RSS Follow Us with E-Mail Updates!
MP Report - Jobs and the Economy
Guy Lauzon
MP - Stormont, Dundas, South Glengarry

MP Report - Jobs and the Economy
Here we go again. More pressure on our fragile economy. Again, the pressure is coming from outside Canada. The United States of America has just had its credit rating lowered from AAA to AA minus by Standard and Poor’s. That in itself is not the end if the world. It is one agency expressing its opinion on the US ability to pay its debts.
PHOTO CREDIT - GuyLauzon.ca

Cornwall - Aug. 15, 2011 - Here we go again. More pressure on our fragile economy. Again, the pressure is coming from outside Canada. The United States of America has just had its credit rating lowered from AAA to AA minus by Standard and Poor’s. That in itself is not the end if the world. It is one agency expressing its opinion on the US ability to pay its debts. The problem lies in the effect this action might have on the American stock market and stock markets around the world, especially here in Canada.

The American economy, along with some European countries’ economies, are not recovering from the recent global recession as quickly as had been expected. Their economies are lethargic. Their employment numbers are not increasing as forecasted. With the exception of the Americans, who announced the creation of 112,000 jobs in July there is very little good news. Stock markets, including ours here in Canada, are down considerably because of these problems. Most countries, with the exception of Canada, are having a difficult time coming out of the global recession.

We are very fortunate here in Canada. Our economy has grown for seven quarters in a row. We have created 600,000 net new jobs in the past 24 months. During the month of July, 7,000 net new jobs were created. The most encouraging statistic about our employment numbers for July is that the private sector hired 95,000 new workers. Our unemployment rate has dropped from 7.8% in January to 7.2% in July. I truly believe our Economic Action Plan introduced in 2008 is working.

However, as soon as I list all the progress we have made, I have to express a warning of caution. Our recovery is fragile, very fragile. And we are at the mercy of other world economies. Just as the global recession began outside Canada's shores, so can we get caught up in outside influences again. That is why we must continue with the next phase of Canada's Economic Action Plan. We must stay the course with our prudent low tax plan that will encourage economic growth and create even more jobs.

Guy Lauzon
Member of Parliament
Stormont-Dundas-South Glengarry


Follow OurHometown.ca on... Follow Us on Facebook Follow Us on Twitter Follow us on RSS Follow Us with E-Mail Updates!
Send Us Your Thoughts


Title - Story Count
7,741 Stories & Growing Daily...

To date OurHometown.ca has posted a total of 7,741 stories! News, sports, hockey, lifestyle, opinion and more!

Be sure to check out our Contributors and Columnists archives!

Dubnyk was nothing more than adequate for the Edmonton Oilers in 2013

Title - More OH Headlines
Click on Photo or Story Title for more info
Lakeshore to add two shade structures in Belle River
Special visitor at Lakeshore
Restorative Winter Soup
Sears Canada to Seek Court Approval for Liquidation, Store closures
Five Hot Vacation Destinations for the Canadian Winter
OurHometown.ca News Database Last Updated:
Mar. 27, 2018 @ 12:24 PM EDT



Footer
Free Sitemap Generator