The provincial economy is expected to cool heading into next year, according to new economic forecasts from Victoria.
If that holds true, we’ll see an unemployment rate that goes up a bit, and more folks on fixed and low incomes will struggle.
Considering we’re not quite through the most intense bout of inflation in 40 years, and that the cost of rental housing remains ludicrously high, that’s bad news.
There are a number of things that can be done at a time like this. The governments holding the purse strings bear the most responsibility, and that means those in Ottawa and Victoria.
It means that income assistance, Old Age Security, and rental supplement programs like SAFER may have to be given a boost.
Other basic cost of living issues should also continue to be in the government’s sights, whether through legislation or special programs – the costs of groceries, childcare, and rent the top issues. Lower-income working folks, seniors, the disabled, and others are vulnerable to economic shocks.
For the rest of us who are fortunate enough to remain financially stable – and that will be most people – it means considering those around us in our communities.
Sometimes that means donating to a local cause. It’s still a stain on this country that we need food banks and similar programs, but thousands rely on them. Donations, especially money, go a long way to helping out.
Beyond that, there’s simply being active in your local community. Shopping local when you can, supporting smaller stores instead of always picking the biggest chains. There’s volunteering, which helps the community and builds social networks that make our region more resilient in good times and bad. And most importantly, we should be there for our families, friends, and neighbours.
– M.C.