Philip Cross: Ontario’s 50,000 job losses kick off Wynne’s anti-business backfire

Unemployed at Queens Park Toronto

The Canadian jobs market returned to earth with a thud in January, StatCan reported Friday, shedding 88,000 jobs in its worst month since the depths of the recession in 2009. The January drop shows that gushing reports about Canada’s “booming” economy were wildly overstated, ignoring that GDP has been struggling throughout the second half of 2017. GDP growth has slowed from an annual rate of five per cent to less than two per cent as persistent weakness in exports and business investment spread to the housing market.

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