
| Msg # 1988 of 2222 on ZZCA4347, Monday 7-14-24, 8:35 |
| From: ABC |
| To: ALL |
| Subj: Canada adds 31,000 jobs in September |
XPost: can.atlantic.general, can.francais, soc.culture.quebec From: abc@123.cl Canada adds 31,000 jobs in September October 9, 2009 9:10 AM The Canadian economy gained a much better-than-expected 31,000 jobs in September, driven mostly by full-time jobs, Statistics Canada said Friday, as the economy continued to show signs recovering from the country€s first recession since the early 1990s. The Canadian economy gained a much better-than-expected 31,000 jobs in September, driven mostly by full-time jobs, Statistics Canada said Friday, as the economy continued to show signs recovering from the country€s first recession since the early 1990s. Photograph by: File, Reuters OTTAWA € The Canadian economy gained a surprising 30,600 jobs in September, driven mostly by full-time jobs, Statistics Canada said Friday, as the economy continued to show signs of recovering from the country's first recession since the early 1990s. "September's full-time increase of 92,000 € the largest since May 2006 € was partially offset by part-time losses of 61,000," the federal agency said. "Construction, manufacturing and educational services saw employment increases in September, while there were declines in transportation and warehousing." The federal agency said the unemployment rate fell to 8.4 per cent from 8.7 per cent in August € the first monthly decline since the beginning of the labour market downturn in the fall of 2008. Most economists had expected 5,000 additional jobs during the month, with the unemployment rate rising to 8.8 per cent. This follows a surprise gain of 27,100 jobs in August. That gain was driven mostly by part-time positions, but was the first month in four that there hadn't been a net loss of positions. The report also noted that employment in the beleaguered manufacturing sector increased by 26,000 in September € the first notable increase since February 2009. Employment in construction rose in September by 25,000 and educational services saw a gain of 18,000 jobs. In an interview with a Toronto radio station Tuesday, Prime Minister Stephen Harper said real recovery would be evident in Canada when the jobless rate starts to fall. "I don't think the recovery really has kicked in earnest until we start to see the kind of (improvement) that starts to turn around the unemployment situation," Harper said. Millan Mulraine, economics strategist at TD Securities said the positive figure ". . . will certainly lead the Bank of Canada to focus on the timing of future interest-rate increases set out in its conditional commitment to hold interest rates at the current level (0.25 per cent) until the second quarter of 2010." "Nonetheless, while for now we continue to expect the policy rate to remain unchanged until the fourth quarter of 2010, we think that the risks of an earlier move have increased dramatically," he said. Tuesday, the Reserve Bank of Australia became the first of the G20 nations to raise interest rates since the onset of the recession. "Just to give a sense how abruptly Canada's labour market has turned, in the past six months, the economy has managed to lose next to no jobs € yet in the prior six months ending in March, the economy had lost a cannonading 354,000 jobs," said Douglas Porter, deputy chief economist at BMO Capital Markets. "Today's report also highlights the deep divide between the North American job markets, with Canada in a much friendlier place." A U.S. Labour Department report two weeks ago showed employers there cut 263,000 jobs in September, pushing the unemployment rate up to 9.8 per cent. --- SoupGate-Win32 v1.05 * Origin: you cannot sedate... all the things you hate (1:229/2) |
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