Posted on Dec 6, 2019
More bad news as Jason Kenney loses another 18,000 jobs in November
The UCP government's $4.7 billion corporate handout has still not created a single job to date as over 18,000 Alberta jobs were lost in November.
“It’s incredibly unfortunate to see so many Albertans lose their jobs before the holidays. The UCP’s risky experiment to hand over billions of dollars to corporations has failed Albertans. All we’ve seen are companies taking their corporate tax gift and creating jobs in Wisconsin.”
Last month, 14,000 full-time jobs were lost and over 5,000 people gave up looking for work, causing the unemployment rate to jump to 7.2 per cent. Especially hard-hit were young men. The unemployment rate for males between the ages of 15 and 24 jumped to 19.4 per cent in November. An increase of almost 3 points compared to the previous month.
Since Premier Kenney and his UCP government introduced their corporate handout, 19,000 jobs have been lost and over 180,000 people are now unemployed in Alberta.
On Tuesday, Moody’s downgraded Alberta’s credit rating, citing “structural weakness in the provincial economy” and stating the $4.7 billion corporate handout will “pressure revenues over the next few years.”
“Premier Kenney and the UCP promised to create jobs and grow our economy, but they’ve clearly failed. Instead of handing over $4.7 billion to corporations, they should be investing in programs like tax credits which were diversifying our economy and creating jobs,” said Bilous.