Despite the squeeze many are feeling from high inflation and rising interest rates, the provincial government says Newfoundland and Labrador’s economic indicators are good.

Finance Minister Siobhan Coady says Newfoundland and Labrador has seen growth in population, and growth in consumer spending.

She says employment is forecast to increase by 2.2 per cent for the year as a whole, and unemployment is forecast to drop by 1.2 per cent—for an average of 10.1 per cent. “If realized, this would be the lowest annual unemployment rate since consistent records began in 1976.”

Opposition Leader Tony Wakeham says the picture is not rosy for many in this province.

“If you’re middle income, if you’ve got a mortgage on your house” you’re feeling the pinch says Wakeham, who recently heard from a young couple whose mortgage is up by $700 a month. At the same time, says Wakeham, “government doesn’t seem to get that some of the tax measures they’ve implemented are part of the problem.”