Rolling the dice

Lots of interesting stuff going on these days. I see the Magnetic Hill area in Moncton will get New Brunswick’s casino. I’m not a huge fan of these facilities as they tend to just divert NBers entertainment spending (and unfortunately in some cases non-discretionary spending) from other endeaveors. However, I am assured by folks close to the project that they expect to claw back at least a few thousand New Brunswickers who would have patronized the Halifax casino each year. They are also hoping to attract tourists – but I think the jury is out on that.

I see the labour market report is out for April 2008. Another tepid month for employment growth. The economy added 1,000 jobs but lost 1,000 full time jobs (the growth was in part time). Since January of this year, total employment is up slightly but full time employment is down 1.3% – the worst performance in the country. The rise in part time employment is problematic. I appreciate there is a important role for part time jobs in the economy (for students and others that need it) but it does very little to help with self-sufficiency. See the chart below for details.

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0 Responses to Rolling the dice

  1. Anonymous says:

    The only good thing about the Casino is that it seems that taxpayer’s money will not be used to build it; it will only be used to pay for the social impacts

  2. mikel says:

    I suspect you are both right. Magnetic hill and the surrounding area is a real tourist draw, anytime I’ve been there its a real ‘zoo’. A casino just adds to that. People were saying this twenty years ago when McKenna was hooking up with all the local criminals (who are now respectable millionaires).

    The ‘bad’ benefits of gambling can be easily controlled much easier than thousands of VLT’s in thousands of stores. At that time casino’s were big money makers all over the world, I suspect at that time McKenna was afraid because it was natives who were at the forefront of pushing casino’s and he would have had a tough time cutting them out.

    Anyway, as I mentioned elsewhere, its bad in a way because if there is any town that needs a casino it is Miramichi and other northern towns. Casino’s are definitely a tourist ‘draw’ not just local money suckers (although they are often that too).

    And again, this is Moncton getting preferential treatment as I don’t think Fredericton or Saint John are even ALLOWED to build casino’s to help their economies. So to mirror NBT’s constant gripe, this is not only government ‘picking winners’, this is government CREATING winners, which is ALSO a very nasty thing. Maybe I’m wrong on that, maybe other cities are allowed casino’s but I’m pretty sure I understand the legislation correctly.