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Editorial: Economic turbulence ahead

Job loss numbers have to be concerning.
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Recent Statistics Canada job numbers are certainly food for thought. (File Photo)

YORKTON - Recently, the New Democrats sent out a release stating the latest Statistics Canada job numbers for the month of November show that over the course of the last year the region of Yorkton and Melville has lost a total of 7,900 jobs, down -18.9 per cent or nearly one-in-five jobs in the region.

That is a startingly large number, and one which needs some context applied.

To begin with the job losses are regional in nature, with Saskatchewan NDP Shadow Minister for Jobs and the Economy Aleana Young explaining in a face-to-face interview with Yorkton This Week, the date covers an economic region of roughly 89,000 residents – or roughly the commonly pointed to trading area for Yorkton.

That softens the 7,900 number a little, but assuming Statistics Canada is at least close in its numbers that a big decline and those sorts of numbers will have local impact.

To begin with it means less dollars flowing through local town economies, and that is particularly concerning in Yorkton as the regional trading hub.

That impact will have to be at the forefront of municipal budget deliberations which are currently ongoing.

If there are less jobs, and the ripple effect is less money to spend, can residents afford even a modest property tax hike, or is it time to trim some services to offset any anticipated operational cost hikes?

Now not surprisingly the NDP laid the blame at the feet of the recently re-elected Saskatchewan Party.

In a release Young suggested, the Sask. Party government has one of the worst jobs records in the country.

“In the last six years, we haven’t seen any increased employment in the region. The Sask Party is actually chasing thousands of jobs away,” she said. “We have so much opportunity in Yorkton and Melville. It’s time for the government to recognize that economic potential and create good-paying jobs for the region.”

The Yorkton Chamber of Commerce suggested potential too.

“The Yorkton-Melville region certainly has great potential for economic growth. The growing agri-food processing hub in Yorkton is testament to that. The Chamber believes that with a coordinated approach to marketing the benefits of establishing and growing a business in this region, and the reconstruction of Grain Millers Drive north of Yorkton, this region will continue to prosper,” offered Chamber Executive Director Juanita Polegi.

Now while it is unfair to suggest a provincial government is solely in control of an economy – they do not set prices for potash as an example – but they play a role in terms of creating an environment which can attract and sustain business.

Has the Scott Moe government done enough?

Well the recent vote in rural ridings certainly suggests all is well in terms of what the Saskatchewan Party has done so it’s hard to point a finger their way of job retention because they garnered huge support in the ballot box based largely on their record.

The bigger question is what they do now in the face of job losses?

That 7,900 number is huge, and things could easily got worse.

Let’s not forget the blustering president elect in the U.S. Donald Trump is threatening to hamstring exports south with huge tariffs. Such moves on his part would certainly threaten jobs here.

Is Moe and his majority ready to deal with that in the new year?

How might it hit Yorkton?

The answers are unclear, but expect a rocky economic ride ahead.

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