Mr. Speaker, in January 2016, Statistics Canada reported that the national unemployment rate was 7.2%, which is a 0.6 percentage point increase since January 2015, when it was 6.6%. Throughout 2015, the unemployment rate fluctuated between 6.6% and 7.1%. However, the national unemployment rate remains below its historical average of 8.3% since January 1976, which was Statistics Canada’s first labour force survey publication.
The fragile and uncertain global economic environment has weighed on Canada’s own economy. Over the last four years, growth in Canada has slowed to below 2% on average, and the sharp decline in global crude oil prices since the end of 2014 has placed more significant downward pressure on the economy. However, the conditions are in place for the economy to begin to regain momentum, and post more solid economic growth and job creation going forward.
The government recognizes that investing in infrastructure creates good, well-paying jobs that can help the middle class grow and prosper today. And by making it easier to move people and products, well-planned infrastructure can deliver sustained economic growth for years to come. With historic investments in public transit, green infrastructure, and social infrastructure, budget 2016 will take advantage of historically low interest rates to renew Canada’s infrastructure and improve the quality of life for all Canadians.
In addition, to better make sure that Canadians get the help they need when they need it, the Government is taking immediate action to improve employment insurance. This includes making changes to the eligibility rules for new entrants and re-entrants, temporarily enhancing benefits in certain regions, reducing the employment insurance waiting period, extending the maximum duration of the work-sharing agreements, and investing in improved service delivery.