Health Care: Doug Porter

Doug Porter: Add it all up, and what you have is the largest medium-term threat to Canadas economy, BMO chief economist Doug Porter said in a client note this week , according to Huffington Post. There are now more jobs in health care in Ontario than there are in manufacturing; as recently as 2000, there were twice as many factory jobs as health care jobs and Heinz shuts down its plant in Leamington, Ont., laying off more than 700 and ending a 104-year-long presence in the town. Three weeks later, Kelloggs shuts down its plant in London, Ont., erasing 500 jobs . Days after that, drugmaker Novartis announces its pharmaceutical plant in Mississauga will shut down , taking 300 jobs with it. Porter noted that Ontario has lost 4 per cent of all its manufacturing jobs in the past year something he understatedly describes as not good. Canada overall lost 2.5 per cent of all its manufacturing jobs this year , the Wall Street Journal notes and thats despite a recent rise in manufacturing output . (www.immigrantscanada.com). As reported in the news.