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Canada added1.8K jobs in October against expectations for a 5K increase, and a far cry from...

Canada added1.8K jobs in October against expectations for a 5K increase, and a far cry from gains of 52.1K and 34.3K the previous 2 months. The unemployment rate held steady at 7.4%. Economist Matthieu Arseneau notes the private sector has actually shed 12K jobs over the last 6 months, but the government has added 76K. "With earnings (down), we no not expect a hiring spree anytime soon."
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  • bob adamson
    , contributor
    Comments (4558) | Send Message
     
    The Canadian economy has, on balance, performed significantly better than that of the US over the period since the 2008 global meltdown began (i.e the global market for Canadian exports remained strong throughout and the strong fiscal position of Canada's Federal Government allowed it to employ significant fiscal stimulus for an extended period with little risk to either Canada's balance of payments or international credit rating - a strong and stable Canadian banking sector didn't hurt either). It is not unreasonable, however, to now expect that Canada will lag somewhat over the next few quarters given that the markets for Canadian exports has softened, Canadian consumers have become highly leveraged and several key Provincial Governments have run up significant debt loads during the recession.

     

    This is not, however, to suggest that Canada's domestic economy of future prospects are seriously impaired, only that Canada's stellar performance in the recent past will cool.
    2 Nov 2012, 05:03 PM Reply Like
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