XPost: can.taxes, soc.culture.canada 
 From: Knaught@not.ca 
  
 Statistics are like torture.  Beat them long enough and you will get what 
 you want. 
  
 "abc"  wrote in message 
 news:20090904-153318.441.0@abc.shawnews.vc.shawcable.net... 
 > 
 > Canada posts surprise gain in employment 
 > 
 > 
 > September 4, 2009 
 > 
 > A Service Canada location in Toronto. Statistics Canada said Friday 
 > that Canada created 27,000 jobs in August, but due to a rise in job 
 > seekers, the employment rate rose 0.1% to 8.7% 
 > 
 > 
 > OTTAWA -- Canada posted a surprising gain in employment in August as 
 > the economy showed signs that it was beginning to pull out of a 
 > recession. 
 > 
 > Statistics Canada said Friday that 27,100 positions were added during 
 > the month, compared with 44,500 losses in July. The unemployment rate 
 > edged up to 8.7% in August from 8.6% the previous month. 
 > 
 > The gains were led by part-time and private-sector employment, the 
 > federal agency said. There were 30,600 part-time jobs added in August, 
 > while 3,500 full-time positions were lost. Hardest hit was the 
 > manufacturing sector, which shed another 17,300 in August. The biggest 
 > gains were in the retail and wholesale trade, up 21,200, and finance 
 > and real estate, up 17,500. 
 > 
 > Six provinces saw employment rise, with the biggest increases in 
 > Ontario, British Columbia and Quebec. Alberta lost the most jobs in 
 > August. 
 > 
 > "Since employment peaked in October 2008, total employment has fallen 
 > by 387,000 (down 2.3%),"the agency said. "The trend in employment, 
 > however, has changed recently. Over the last five months, employment 
 > has fallen by 31,000, a much smaller decline than the 357,000 observed 
 > during the five months following October 2008." 
 > 
 > Most economists had expected the economy to lose jobs in August, with 
 > the consensus being about 15,000 fewer positions. They also expected 
 > the unemployment rate to rise to 8.8%. 
 > 
 > "This report may not quite carry the good housekeeping seal of approval 
 > for the recovery, but it certainly is another big step in the right 
 > direction," said Douglas Porter, deputy chief economist at BMO Capital 
 > Markets. 
 > 
 > "While we can quibble about the details, the broader picture here is 
 > that the labour market is stabilizing, and apparently much faster than 
 > in the U.S." (The U.S. Labor Department said Friday that 216,000 jobs 
 > were lost in August, although that was less than analysts had 
 > expected.) 
 > 
 > Charmaine Buskas, senior economics strategist at TD Securities, said 
 > "the fact that the (Canadian) unemployment rate continues to rise has a 
 > bit of a mixed messages, as the initial interpretation is negative, but 
 > suggests that workers are slowly becoming more encouraged by better 
 > prospects in the job market." 
 > 
 > "Ultimately, this report, while positive, is not going to have much 
 > impact on the Bank of Canada. It has already committed to keep rates on 
 > hold, and one month of good employment numbers is unlikely to sway the 
 > decision." 
 > 
 > Avery Shenfeld, chief economist at CIBC World Markets, said: "Half a 
 > loaf, or in this case, half a job, is better than none, so an increase 
 > in Canadian employment driven by part-time work is still an encouraging 
 > signpost of an economic recovery now underway." 
 > 
 > The employment report follows some mixed signals of an economic 
 > recovery in Canada. 
 > 
 > On Thursday, the Organization for Economic Co-operation and Development 
 > said Canada's economy will contract 2% in the third quarter of 2009 
 > before edging up 0.4% in the final three months of the year. 
 > 
 > That's in contrast to forecasts by the Bank of Canada, which expects 
 > the country's gross domestic product to grow 1.3% in the third quarter 
 > of this year, followed by a 3% gain in the final three months of 2009. 
 > The central bank also forecast the economy will contract 2.3% overall 
 > this year and grow 3% in 2010. 
 > 
 > Last week, Statistics Canada reported GDP increased 0.1% in June, even 
 > as the second quarter declined overall by 3.4%. 
 > 
 > The outlook by OECD, a Paris-based group of 30 industrialized nations, 
 > shows Canada's recovery lagging along with the U.K., which is expected 
 > to decline 1% in the third quarter and be flat in the final quarter, 
 > and Italy, which is forecast to shrink 1.1% and grow 0.4%, 
 > respectively. 
 > 
  
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