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Justin Trudeau may be trying to paint a sunny picture of the economy and how it is getting better, but the reality is far from what Trudeau is depicting. The economy is spiraling out of control, and it is only going to get worse, which is why Canadians should be seriously concerned about it. The wage growth is at its lowest point in decades, there is rising debt, and there are trade tensions building up with the United States, which have impacts on Canadian economy for decades.
There are no two ways about it, Justin Trudeau has failed miserably with the economy and things aren’t getting any better, with Great-West Lifeco just announcing that they are cutting 1,500 jobs, which is 13% of their Canadian workforce. The cuts will be made over the next 2 years, and are going to contribute significantly to an already struggling economy.
Investors have no confidence in the future of Canadian economy, and the job cuts at Great-West Life are an indication of where it is headed. In order to stay competitive in the industry, and drive future growth, companies will have to resort to job cuts, which will only harm Canadian economy. This should serve as a message for anyone that thinks that the Canadian economy is improving.
Debt is rising, and the economic stagnation in Canada is starting to show its side effects, with more job losses expected across the board. Justin Trudeau has done little to correct the economy, and by increasing taxes, he has condemned Canadian workers to their fate. While it would be unfair to blame Trudeau for the job cuts, there is no doubt that he is to be blamed for the current economic climate in Canada, which has been created as a direct consequence of his economic policies.