Canadians Enjoy Record Breaking Job Increases

May 8 – Ottawa (May 08) – The Canadian government announced that 109,000 Canadians found themselves re-employed the month of April bringing the unemployment rate down to 8.1 percent a tenth of a percent decline from Februarys numbers.

The bulk of the job growth was in the private sector with retail, and wholesale companies adding the most jobs. This would be the fourth consecutive month for job growth in a row. According to Canadian resources on the web, building permits are on the increase as well.

Overall wage growth has slowed to 2 percent however; the impact of the jobs report drove the Canadian dollar higher in the currency markets.

The employment number increase was the highest recorded jump since statistics keeping began in 1976. Canadian employment had increased by approximately 285,000 jobs since last July, indicating that the recession in Canada at least, may be ending.

The bulk of the employment activity, or about two-thirds was among young men aged 25 and older an increase of over 72,000. With the retail, and wholesale trades; business, building, and support services, and construction services filling most of the void, the good news was a welcome relief in Ottawa.

Retail and wholesale jobs increased by 21,000 while building and supports services gained 31,000. Construction came in third adding 24,000 jobs with information, culture, and recreation adding an additional 20,000 workers to the payrolls.

Notable losses in April were in the manufacturing, and agricultural industries losing a combined 31,000 jobs.

Employment in Ontario, Quebec, British Columbia, and Alberta respectively were the big winners in the job numbers last month with Manitoba adding a modest 7,000 jobs to help with the jobless situation. Manitoba enjoys the lowest unemployment rate in the country with an unemployment rate of 4.9% whereas, unemployment rates elsewhere ranged from 8.8 to 7.3 percent.

In contrast to the horrible job situation in the United States, the total population of Canada according to statistics found online as of 2008 is 33,311,400 which is roughly double the number of unemployed Americans being counted under the current methods, and just shy of the combination of unemployed and underemployed Americans estimated to be greater than 28 million.

The United States still has a long way to go in creating an atmosphere that will spur both growths in established business, and creation of jobs within new businesses. Even more startling in these numbers, the United States over the last decade ship more jobs overseas than the total number of unemployed in Canada. It would be obvious the United States begins to rethink its tax breaks and incentives to the wealthy and bring those jobs sent overseas, back home in the U.S.

Posted by worldnews on May 8, 2010. Filed under economy,International Business News,News,WorldNewsVine. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.