Skip to comments.Economy showing strength as Canada adds 50,700 new jobs in February
Posted on 03/08/2013 8:13:39 AM PST by Squawk 8888
OTTAWA -- Canada's economy showed signs it may be ready to bust out of its half-year funk by churning out a surprisingly strong 50,700 new jobs in February, most of them full-time, in the private sector and in Ontario.
The outsized gain was enough to keep the unemployment rate at the four year low of 7.0 per cent despite the fact over 60,000 Canadians joined the labour force in the month, another good signal for the economy.
Regionally, Ontario was the biggest generator of new jobs, adding 35,300, followed by British Columbia with an increase of 19,800. Quebec had the biggest drop in employment, shedding 13,100 jobs.
Economists had expected a second weak month in February given that most indicators have been pointing to modest growth and January saw an outright loss of nearly 22,000 jobs. The forecast had been for about 8,000 new jobs.
But instead the labour market reversed all the negative signals sent out in January, and then some. Not only did job gains swamp the previous month's losses, but Canadians who had exited the labour force returned with a vengeance.
"Up until today, economic indicators had suggested that the Canadian economy was sputtering as opposed to accelerating," said Sonya Gulati, a senior economist with TD Bank.
"Today's employment numbers put some of these concerns to bed. While headwinds are plentiful and downside risks numerous these should abate, enabling economic growth in Canada to pick up in the second half of this year."
(Excerpt) Read more at ctvnews.ca ...
How much oil (crude plus refined product) is Canada exporting/yr?
So Canada has a population that’s about 11% of that of the USA... That means that if the USA was generating 9X Canada’s job growth, we would be growing in parity with Canada’s economy... Too bad we aren’t.
Not sure, but we are the #1 supplier of US imports.
About 600,000 barrels a day less than we would be if the Keystone pipeline was finished.
You have 1 and 1/3 of Canada’s total population on food stamps!
It’s hard to swim with an anchor!
Even 1/2 bbl/day/peep would be a great economic help.
What is a “peep”?
A person - citizen - people.