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Lana Payne, Unifor National President, shared the views of workers and the union during a meeting with Tiff Macklem, Governor of the Bank of Canada, earlier this week.
Payne and the Unifor team discussed the challenges workers are facing as a result of a series of interest rate hikes including climbing mortgage and rent costs. The team stated concerns that the rising interest rate could trigger a recession, that would put people out of work or cause businesses to create fewer jobs.
The union summarized what is happening in key sectors where Unifor represents members and stressed the importance of providing workers with the opportunity to improve their living standards.
Unifor presented concerns about profiteering in targeted economic sectors (notably the grocery and energy sectors) as well as anemic levels of business investment in both machinery and equipment as well as on-the-job training.
Payne emphasized the need for employers to take responsibility for improving productivity, stating that workers are not responsible for the lack of productivity growth and should not be punished.
Payne and Macklem engaged in a constructive dialogue during the hour and a half long meeting. The union looks forward to future conversation and consultation to bring the views and experiences of workers directly to the Bank’s attention.
