Another stellar month for job creation in Canada. 93000 new jobs were created five times what the "experts" predicted.bo's latest job numbers are an epic fail, as one of my God children would say.
iffy has stopped talking jobs and is talking about how we can learn from Chinese communists about human rights. It is very unseemly to criticize Canad while in Communist China. Perhaps iffy forgets he is Her Majesty's leader of the loyal opposition. No wonder grit poll numbers continue to plunge.
Canada Jobless Rate Falls to 7.9%, Recoups Almost All Recession Job Losses
By Greg Quinn - Jul 9, 2010
Canada’s job creation was almost five times more than economists expected in June, led by retailers and other service companies, and the economy has now recovered almost all of the job losses since 2008.
Employment rose by 93,200 in June, following gains of 24,700 in May and April’s record 108,700, Statistics Canada said today in Ottawa. The jobless rate fell to 7.9 percent, the lowest since January 2009, from 8.1 percent. Economists surveyed by Bloomberg predicted 20,000 new jobs and an unemployment rate of 8.1 percent, according to the median of 23 estimates.
The job market has been one of the strongest parts of a Canadian recovery the International Monetary Fund says will lead advanced economies this year. The Bank of Canada raised its key lending rate from a record low 0.25 percent June 1 after the economy grew at a 6.1 percent annualized pace in the first quarter. The bank said future moves depend on the balance of domestic growth and an uneven global recovery.
“You can’t really argue anything in this report,” said Benjamin Reitzes, an economist at BMO Capital Markets in Toronto. “Businesses are confident in our recovery and are hiring. That should get the ball rolling on growth from a private sector perspective.”
The Canadian dollar appreciated 0.8 percent to C$1.0337 per U.S. dollar at 7:22 a.m. in Toronto, from C$1.0420 yesterday. One Canadian dollar purchases 96.74 U.S. cents.