Canada posts first job gain in four months


Employment in Canada rose by 27,000 in August, however, the unemployment rate also rose to 8.7% from 8.6%.

Here's why we shouldn't get excited over this report. The employment gain was mainly in part time jobs which rose by 30,600.

By sectors the numbers break down this way:

  • Manufacturing lost another 17,300 jobs, with 12 months losses at 231,000 or 12%.
  • Government jobs fell by 11,500.
  • Self-employed fell by 10,600

Now for the good news:

  • Employment at private companies rose by 49,200
  • Construction employment rose by 12,100
  • Scientific services rose by 10,400.

Overall, the report shows that Canada is coming off a weaker base than the U.S. with 8.7% unemployment and that the employment gain was mainly due to an increase in part time jobs. Plus the overall unemployment rose 0.1 percentage points to 8.7%.

Nevertheless, it may set a trend for the U.S. economy in the months to come.

Do you believe that the U.S. will add jobs in September?

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Last updated: May 23, 2012: 11:01 PM

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