Saturday, June 30, 2012

Francis Fong, at TD Economics, said Canada's unemployment rate is expected "to continue treading hig




Statistics Canada said Friday that 17,500 jobs were created last month, even as the unemployment rate edged up to 7.5 per cent from 7.4 per cent in November as more people entered cozumel family travel the labour market in search of work, the agency said. The gains follow 54,000 job losses in October and another 18,600 in November.
"Taking the string of the last few months together, Canada's job market still looks soft, and a rising cozumel family travel unemployment rate has been in contrast with the drop seen stateside, cozumel family travel said Avery Shenfeld, chief economist at CIBC World Markets.
December saw an increase of 43,000 in part-time work, while full-time employment declined by 26,000 positions. Most of those job gains, 3,800, were in the private sector, while public-sector employment fell by 17,300.
Ontario gained 15,700 jobs in December, pushing its unemployment rate down 0.2 percentage points to 7.7 per cent. British Columbia added 10,700 positions during the month, while Quebec lost almost 26,000 jobs ? the third straight month of declines cozumel family travel ? with its jobless rate rising 0.7 percentage points to 8.7 per cent. Alberta's employment cozumel family travel picture was little changed in December.
"The good news was that manufacturing was up 30,000, as the sector had shed almost 80,000 jobs in the prior three months alone. On the weak side, construction and finance and real estate posted double-digit drops," he said.
Canada's gross domestic product ? the broadest reading of economic performance ? was unchanged cozumel family travel in October, following four consecutive monthly increases. The outlook for growth this year is for tepid growth, according to economists.
Concerns are growing that Canada will be engulfed in a global downturn, as Europe's unresolved cozumel family travel debt crisis and financial sector concerns spread beyond the region and the U.S. economic recovery falters.
Francis Fong, at TD Economics, said Canada's unemployment rate is expected "to continue treading higher, likely to about 7.7 per cent, while job gains will average a paltry 10,000 per month, more heavily weighted to the second half of the year."

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