# Canadian economy dying slowly, painfully and in darkness

Page: https://stenobird.com/podcast/the-really-big-show-with-jim-csek-iain-burns-7118319/canadian-economy-dying-slowly-painfully-and-in-darkness
Text version: https://stenobird.com/podcast/the-really-big-show-with-jim-csek-iain-burns-7118319/canadian-economy-dying-slowly-painfully-and-in-darkness.md
Podcast: [The Really Big Show with Jim Csek &Iain Burns](https://stenobird.com/podcast/the-really-big-show-with-jim-csek-iain-burns-7118319)
Published: 2026-06-06T16:29:25+00:00
Episode link: https://podcasters.spotify.com/pod/show/ai-ev/episodes/Canadian-economy-dying-slowly--painfully-and-in-darkness-e3ke055
Audio file: https://anchor.fm/s/10fa926fc/podcast/play/121093733/https%3A%2F%2Fd3ctxlq1ktw2nl.cloudfront.net%2Fstaging%2F2026-5-6%2F425627806-44100-2-ee0dd00dcb156.mp3
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JSON: https://stenobird.com/v1/public/podcasts/the-really-big-show-with-jim-csek-iain-burns-7118319/episodes/canadian-economy-dying-slowly-painfully-and-in-darkness
Duration seconds: 7018

## Resource

►The PBO has cut Canada's 2026 growth forecast to 1.1%, with Scotiabank projecting 0.8% and BMO projecting 0.5%, as real GDP per capita remains below pre-pandemic levels, labour productivity has been flat or negative since 2021 and business investment has fallen for 5 consecutive quarters►Statistics Canada reports Canada added 88,000 jobs in May and unemployment fell to 6.6%, driven entirely by full-time work, but critics note the surge coincides with FIFA World Cup hiring in Vancouver and Toronto, raising questions about whether the gain reflects structural improvement or a temporary spike that will reverse in August►Ontario recorded its worst non-pandemic quarterly job losses since the mid-1970s as Canada enters a technical recession, with the only consistent employment growth coming from government payrolls rather than private sector hiring►Finance Minister Champagne is accused of misleading Canadians on the 2025 deficit after the Parliamentary Budget Office revealed the true shortfall was $71.8 billion versus his claimed $66.9 billion, with analysts calculating a 99% chance the government will miss its ongoing fiscal targets►Parliament has not balanced a budget since 2007, with ongoing deficits now the largest in Canadian history outside the pandemic and the PBO estimating less than 1% chance the deficit-to-GDP ratio will decline every year through 2031►Over 12 million Canadians receive a one-time top-up payment today under the Canada Groceries and Essentials Benefit, which the CRA confirms is simply the existing GST rebate renamed and increased by 25%►Abacus Data finds 43% of Canadians have cut back on home heating or cooling to save money, while 38% say they have been forced to choose between paying energy bills and covering other household expenses►Canadian vehi…

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