Sunday, September 06, 2009

Canada Adds 27,100 Jobs In August

A Pleasant Surprise
Canadian Economy Adds 27,100 Jobs

The statisitcs seem to be a surprise to everyone, but Stats Canada reports that 27.100 positions were added during the month of August compared with a loss of 44,500 in July.

These job gains were led by part time and private sector employment. However, on the down side the manufacturing sector lost another 17,300 jobs in August however overall there was a net gain of 27,100 jobs.

The unemployment rate edged up slightly to 8.7% in August from 8.6% in July.

Considering at one time this recession was being compared with the crash of the 30's and that Canada has seen far higher unemployment numbers in recent history, we seem to be managing pretty well.

Of course if you are among those unemployed who do not wish to be, the downturn is still quite serious. However, the unemployed are not forced to abandon family and ride the rails in search of work or stand in line at the soup kitchen as was the case during the 'Great Depression'. Even the unemployment numbers were much worse during our last two recessions, in 1993 it was 11.4% and in 1983 it rose to 12.0%.


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