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The other economy revolves around revolutionary technology such as artificial intelligence and the relatively small pool of elite talent that knows how to maximize and commercialize these breakthroughs. It sells services and generates wealth from intangible capital such as intellectual property and innovation. To a certain extent, it is oblivious to cyclical turbulence because it is part of a structural shift around the world to economies built on data and the tech required to collect and process that information.

Nothing, not even Trump, will disrupt the demand for what this other economy is selling. But in terms of GDP, the tech and services industries remain relatively small, so the struggles of the economy based on tangible goods will dictate the aggregate figures. And in terms of hiring, this newer economy remains concentrated in urban centres with famous universities. So people unconnected to these places will look at Morneau’s tweet and wonder what he is talking about.

The jobless rates in Vancouver and Montreal are 4.7 per cent and 5.5 per cent, respectively, compared with the national rate of 5.8 per cent. Total employment in Calgary was 1 per cent higher in February than a year earlier, compared with an increase of almost two per cent in Toronto over the same period. Employment in Manitoba actually declined last month.

So in a way, Morneau is right: there is strong job growth. It’s just that all of it is taking place in his hometown of Toronto and the other big cities that the Liberal caucus disproportionately represents. Unfortunately, it’s the other economy, where the Liberals have little representation, that requires the most attention.

• Email: kcarmichael@postmedia.com | Twitter: CarmichaelKevin