Why the skyrocketing cost of housing in St. John’s is a problem for everyone in the province.
New Democratic Party Leader Lorraine Michael says that Newfoundland and Labrador’s wealth from the offshore industry is not finding its way into enough pocketbooks. “The government is certainly bringing in revenues from oil and gas that we’ve never ever had before in the province, but the revenues are not translating into adequate jobs for trades people and working class people,” said Michael. Michael said the disparity is particularly glaring in rural areas, which have the highest rates of unemployment in the province. Newfoundland and Labrador posted a seasonally adjusted unemployment rate of 11.9 per cent in July, down substantially from years past but still the highest in the country. Source: CBC