Fifty thousand full-time jobs lost since UCP handed over billions to corporations
Since Premier Kenney and his UCP government enacted their $4.7 billion corporate handout, 50,000 full-time jobs have been lost. This increase comes after another bad month for jobs in December, as 24,000 full-time jobs were lost.
“This is another disastrous month for jobs and, unfortunately, it’s Albertans who are suffering,” said Deron Bilous, NDP Critic for Economic Development, Trade and Tourism. “And all this is happening as TMX is under construction. This Premier’s plan is failing Albertans. Period.”
“Premier Kenney and the UCP promised that their $4.7 billion corporate handout would create 55,000 jobs. Instead, we’ve seen 50,000 full-time jobs lost." - Deron Bilous
While the unemployment rate went down from 7.2 per cent to seven per cent, that was only due to 7,500 people leaving the workforce. This leaves Alberta with the highest unemployment rate outside of the Maritime provinces.
On an industry basis, the oil and gas sector has lost 8,000 jobs since Kenney and the UCP unveiled their corporate tax gift. This comes after news earlier this week that tech employers are picking British Columbia over Alberta following Premier Jason Kenney’s cancellation of crucial innovation tax credits and deep cuts to Alberta Innovates.
“I think there’s tangible evidence that companies are making the decision either not to consider Alberta or, if they are in Alberta, to come here,” BC Jobs, Trade and Technology Minister Bruce Ralston told Business in Vancouver magazine this week. The Vancouver business magazine also quotes BC leaders in interactive digital media and artificial intelligence highlighting this new opportunity to poach workers and entire companies away from Alberta.
“Premier Kenney and the UCP are failing to create jobs in everything from oil and gas to tech,” said Bilous. “They need to reinstate job-creating programs introduced under our government, like tax credits and tech incentives. All this Premier has done so far is kill jobs.”