Official Hansard
Madam Speaker, I am grateful for the opportunity to speak today. When I read the motion today, I could not help but think of a story my father told me when I was a kid. The story had to do with Optimist clubs. There are Optimist clubs in Quebec and in just about every province in Canada, and they are really essential to the community. They work hard. I am thinking in particular of the clubs in Beauport—Limoilou that sell hot dogs at baseball tournaments and donate the proceeds to young people. Everyone knows about the Optimist clubs in their community. When I was young, my father told me a little story to make me think. Given the success of the Optimist clubs, he told me a story about two guys. The first one tells the other that since Optimist clubs seem to work so well, they should start a “pessimist club”. The second replies that he does not think it will work. When I read the motion, it reminded me a bit of that story, and I will explain why. I think it is important to put some facts back into the debate today. Yes, the global economy is undergoing a period of uncertainty. Yes, the challenges are real. However, presenting Canada as an economic failure is more pessimism than a serious analysis. The fact of the matter is that Canada is still in a great economic position today compared to many of its G7 partners. Canada is expected to have the second-fastest growth in the G7 this year and next. Our banking system, in which I worked for more than 20 years, is recognized as one of the strongest in the world. Our unemployment rate remains historically low despite global economic turbulence. Millions of jobs have been created since the pandemic, and Canada continues to attract major investments in growth sectors such as critical minerals, artificial intelligence, batteries, aerospace and clean technology. Let us not forget the fundamental fact that Canada and the United States share the world’s longest international border. This proximity gives us privileged access to the world’s largest economy. Billions of dollars’ worth of goods and services cross that border every day, supporting millions of jobs on both sides. Few G7 countries enjoy such a significant advantage in terms of geography and trade. However, this advantage also comes with its share of challenges. When the American economy slows down, when trade tensions emerge or when political decisions are made in Washington, the effects are felt here in Canada right away. Our level of economic integration with the United States leaves us more exposed than many other countries to the ups and downs of the U.S. economy and the uncertainties of its trade policies. That is precisely why we must look at our economic performance in context and with a positive outlook. Despite the economic upheaval in recent years, the supply chain disruptions, the rising global inflation and the uncertainty when it comes to our main trading partner, Canada remains one of the most stable and resilient economies in the G7. That is why we need to assess Canada’s economic performance rigorously and honestly. What do the numbers tell us? They tell us that Canada’s economy is stronger and more resilient that many people expected. The May labour force survey results show that our plan is working. While several analysts had predicted that only 10,000 jobs would be created, we actually created 88,000 jobs in one month. That is unbelievable. That is not a small difference. It is almost nine times what the market expected. The unemployment rate also dropped to 6.6% from a high of 7.1% last August. These numbers demonstrate one very simple thing: Despite headwinds, global uncertainty and trade tensions with our main economic partner, Canada’s labour market remains resilient. What is more, over the past 12 months, Canada has created 147,000 jobs. Since December 2024, Canada has added more jobs per capita than the United States. Canada has created 2.8 jobs for every 1,000 residents, nearly double the rate seen among our neighbours to the south. These are results we can be proud of. It is not just the number of jobs that matters. The quality of the jobs matters too. The recent gains have mainly come from full-time jobs, particularly in the construction industry. Why is that so important? It is because it shows that the investments we are making are in infrastructure, housing and major economic projects that deliver real results. That is good news for the people and the riding of Beauport—Limoilou. It also shows that our decision to align our public investments more closely with the construction season is paying off. Meanwhile, wages continue to rise faster than inflation. For over three years now, workers’ incomes have been outpacing price increases. That means more money in the pockets of Canadian families. That is the reality for millions of workers across the country. Of course, there are still some challenges. I am thinking in particular about youth employment. Although youth unemployment is down by 0.9%, marking the first drop since January, we know that many young Canadians are still having a hard time entering the labour market. That is why our government is taking action. In the spring economic update, we announced over $6 billion in investments in our team Canada strong initiative. This initiative will mobilize Canada’s skilled trades workforce and meet the growing needs of our economy. Thanks to these investments, we expect to create more than 100,000 new, well‑paying jobs in the skilled trades by 2030. We are making it easier to access apprenticeships. We are supporting training. We are helping young people find stable, well‑paying jobs that are in demand across the country. We are continuing to protect essential programs like Canada summer jobs and the youth climate corps. The opposition is asking us today to conclude that the Canadian economy is failing. The facts tell a very different story. They show us an economy that continues to add jobs despite global uncertainty. They show us wages rising faster than inflation. They show us investments that are boosting construction and strengthening our productive capacity. They show us a country that remains one of the strongest economies in the G20 despite global challenges. Our government remains focused on a clear priority: building the strongest economy in the G7. That is the goal of budget 2025. That is the goal of the spring economic update. That is the goal of every measure we are implementing to support workers, attract investment, and strengthen Canada’s competitiveness. Canadians are asking us not to give in to pessimism. They want us to build the future. That is exactly what we are doing. Our free trade agreements with Europe and the Indo‑Pacific region have made Canada one of the best-positioned countries in the world for international trade. The real question is this: Are we in a better position to weather this storm than most of our international partners? The answer is yes, because we have strong institutions, strategic natural resources that are in demand all over the world, and access to over 1.5 billion consumers through our trade agreements and, most of all, because we can count on Canadians’ talent, innovation and resilience. Rather than giving into pessimism, we have to acknowledge the challenges yet trust in the incredible strengths of our economy and the immense potential of Canadians. That is exactly what our government is focused on doing: investing in productivity, infrastructure, housing, trade and the workers building our collective prosperity. I, for one, am siding with the optimists.
