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TORONTO, Sept. 1, 2015 /CNW/ - This morning's dismal Gross Domestic Product report from Statistics Canada confirms what working Canadians have known all along - the Harper Government has failed to meet their economic needs.
"Working people see the weakness in our economy every day in their own struggles to find decent work, in the difficulties their children are having starting a life and the challenges faced by this country's seniors to live in dignity in retirement." Unifor National President Jerry Dias said.
Statistics Canada reported this morning that the country's GDP declined by an annualized 0.5 per cent, putting Canada into a recession, defined by economists as two straight quarters of GDP decline.
"Canada is in a recession today due to the failed economic policies of the Harper government that left the Canadian economy vulnerable even before oil prices fell," Unifor Economist Jim Stanford said.
"In recent years the economy has shown a longer-run pattern of very weak growth, miserable export and investment performance, and the erosion of many key industries."
"That has left the entire economy on the edge of recession in the first place, so that bad news in one sector can actually push the whole national economy into negative territory."
Unifor released a study in August, co-authored by Stanford and fellow Unifor Economist Jordan Brennan, comparing the Harper Government's economic record to that of previous prime ministers. It found, based on 16 economic indicators, that Harper Government had the worst economic record since the Second World War.
"Even with June's growth, this deeper weakness is still very much evident," Stanford said. "Much of our problem was self-inflicted, in the form of bad policies: needless austerity, and a profound failure to stimulate business investment and exports."
To read the full report by Stanford and Brennan, go to: uniforvotes.ca .
Unifor is Canada's largest union in the private sector, representing more than 305,000 workers. It was formed Labour Day weekend 2013 when the Canadian Auto Workers and the Communications, Energy and Paperworkers union merged.
SOURCE Unifor
