According to the latest labour force survey results, employment increased in Newfoundland and Labrador for the ninth consecutive month and continues to reflect new historical levels.

As of April 2007, employment in the province in comparison to a year ago has increased by 2.5 per cent to stand at 207,700. As well, the unemployment rate for the same period has decreased by 3.4 per cent to stand at 15.5 per cent.

"The latest labour force survey report from Statistics Canada indicates the continuation of a trend towards increased employment and decreased unemployment in the province," said the Honourable Shawn Skinner, Minister of Human Resources, Labour and Employment. "The $6.7 million provided through Budget 2007 for labour market development and skills training will help ensure that more people get connected to current and emerging work opportunities in the economy."

This is evident in the private sector with growth occurring in both the fabrication and mining sectors. For example, Peter Kiewit & Sons in Marystown currently has employed in excess of 500 workers on a liquefied natural gas project and an offshore services contract while in central Newfoundland, the Duck Pond Mine has another 300 workers employed and contributing to the economy.

The Honourable Tom Marshall, Minister of Finance and President of Treasury Board, said Budget 2007 takes action to diversify the economy and to create employment. "The largest personal income tax cut in the history of the province will put more money into the hands of Newfoundlanders and Labradorians and result in our province having the lowest personal income tax rates in Atlantic Canada. This annualized investment of $155 million will assist in building a stronger more competitive economy as we move toward being less reliant on revenues from our non-renewable resources."

Furthermore, Minister Marshall said Budget 2007 promotes economic growth by investing more than $100 million to stimulate business growth, create jobs, and strengthen the economies of rural regions. This includes strategic investments in the forestry, mining, agriculture, and fisheries sectors along with targeted programs for small and medium-sized business, investments in innovation and developing skilled trades.

"We are also promoting economic growth through our continued efforts to modernize the province�s infrastructure," explained Minister Marshall. "We will spend another $440 million on infrastructure in 2007-08, as part of the $2 billion six-year infrastructure strategy which will create approximately 5,700 person-years of employment."

The Williams Government is strategically investing revenues from the province's non-renewable resources to diversify the economy and support job growth as it forges ahead with its vision of a prosperous province with a self-reliant people.

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2007 05 14                                                  11:15 a.m.