I'm not going to comment on the latest Strategic Council poll that came out in the Globe & Mail this morning (Why is Harper treading water?). Rather, I'm going to comment on the Globe's assertion that the economy is just humming along.
I'm really surprised that the Globe & Mail feels that the Canadian economy is so strong. While job growth remains good many of the underlying characteristics of the economy are troubling at best. Ontario, the industrial hub of the country has been hemorrhaging manufacturing jobs at an alarming rate. Canada is one of the few Western countries with negative industrial output according to the Economist. Canada is also a laggard when it comes to investment in Research & Development. The combination has serious implications for our ability to compete with the rest of the world.
Now let's look at what those jobs are being replaced with. Part time and temporary work in service industries and work in the resource industry are the primary contributors to job growth. So we're becoming hewers of wood and Starbucks baristas. Not such a pretty picture when you look under the surface.
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