Tuesday, December 16, 2008

582,000 Canadian Jobs At Stake

A whopping 582,000 direct and indirect jobs would be lost in Canada over the next five years if the ailing Big Three US auto makers shut down their Ontario operations, said a study Tuesday.

If output is reduced by 50 percent, 296,000 jobs would be lost nationally, said the 11-page report prepared for the Ontario Manufacturing Council.

"The economic consequences of either a partial or total shutdown of the Detroit Three are stark," said the report.

"Either scenario is sufficient to push Ontario into a deep recession while the nation may barely escape one in the 50-percent reduction scenario." - Breitbart.com

In Canada, there is a $2.8 billion dollar bailout plan on the table for the Big Three.

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