Don’t you just love it when you see real statistical numbers that go completely against “conventional wisdom”… or at least what some would have us believe us “wisdom”.
This is from My Blahg.
The 2nd highest unemployment rate, 11.1%, in 2003 belonged to Prince Edward Island, despite the fact that it had the 4th highest rate of economic growth over the previous decade with a rate of 3.2%. In 2004, Prince Edward Island had the 3rd lowest minimum wage rate at just $6.50/hr.
Meanwhile, Manitoba had the lowest rate of economic growth during the period from 1993-2003 at just 2.6% but also had the lowest rate of unemployement in 2003 with a mere 5%. Interestingly enough, Manitoba had the 4th highest minimum wage rate in 2004 at $7.00/hr.
But of course, if you listened to Walmart and Canadian Super Store you’d hear that $6/hr jobs are the “foundation” of a good economy… everyone can get a crappy job! Or… not.