Power & Politics Canada gets pummeled by 84,000 job losses. How bad is it?
6 snips
Mar 13, 2026 
R.J. Simpson, Premier of the Northwest Territories, talks about federal plans for $35 billion in northern defence and infrastructure and how that could affect local development. Ian Bremmer, founder of Eurasia Group and GZERO Media, provides geopolitical analysis of the Iran war, global pressure points and prospects for de-escalation. Multiple short, focused conversations tie the economic shock and international security issues together.
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Sudden 84,000 Job Losses Reveal Structural Weakness
- Canada's job market showed a sudden, large reversal with 84,000 jobs lost, the biggest drop outside the pandemic since 2009.
- Peter Armstrong highlights losses were almost entirely full-time and private-sector, signalling deeper structural weakness tied to U.S. tariffs and trade uncertainty.
Iran War Adds Inflationary Supply Shocks
- The Canadian economy is teetering near recession and facing added uncertainty from Middle East conflict and supply disruptions.
- Armstrong warns higher diesel and component shortages from Gulf disruptions will raise costs and complicate recovery.
Overconfidence Turned a Limited Strike Into A Broader War
- Ian Bremmer calls the U.S. decision to wage the campaign a major foreign policy error rooted in overconfidence and poor coalition coordination.
- He argues Iran can endure disruption to the Straits of Hormuz and use that leverage because the U.S. is unlikely to absorb equivalent economic pain.