Quote:
Originally Posted by ErickMontreal
The Telegraph had an article over the weekend covering the unemployment that is soaring in the Greater Saint John region. The unemployment topped at 9.1 %, the second highest of all CMA country wide. They were pointing to the lack of big projects weakening the overall economy as Point Lepreau and the Courthouse are on the way to be completed.
In my opinion, the actual workforce skills do not match the opportunities available on the market right now. I have always thought that the workforce in Saint John was both vastly and overwhelmingly uniform. At this point, perhaps it is the time to think outside the box and stop waiting for the next big thing that would spur growth for the next two years and start to put the emphasis on small and medium businesses that will create stability.
On side note, I just bought a house in the inner city and the market is literally flooded by houses. There are about 12 houses per 1000 people available which is one of the highest in the country. It maybe an indication that some of the people who moved back and bought a house between 2006 and 2009 during the peak of the boom on the hope of the positive economic forecast will materialized are packing and leaving to go out West. There is obviously an out migration that needs to be taken seriously.
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A lack of available jobs and industries, concurrent with a city that has gone into debt building a massive, financially unsustainable, suburban framework that is unmarketable to today's young working demographics demanding urbanised living options, means that the average age of Saint Johners will increase with its unemployment rate and municipal debt.
Costs for products and services will continue climbing, as consumer spending drops, which translates into decreased corporate investments.
And the cycle continues.
Saint John = a bigger example of northern New Brunswick. Immediate political action is necessary to change course. For Christ's sake: please commit to a stronger pace of inward urbanism; please reform your tax system so that even the suburbs are paying their fair share. It is the least they can do after draining SJ's infrastructure budget, which is now maintained by federal equalisation payments (people not living in New Brunswick).