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Canadian job growth soars in March.
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abc
Apr 5, 2012, 10:44:34 AM4/5/12
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Canadian job growth soars in March
Canada’s job gains blow past forecasts
APRIL 5, 2012
The jump in employment last month was led by full-time private-sector
hiring.
OTTAWA — Canada's economy gained a surprisingly robust 82,300 jobs in
March, with the unemployment rate edging down to 7.2 per cent, Statistics
Canada said Thursday.
The jump in employment last month — led by full-time private-sector
hiring — follows a loss of 2,800 positions in February, which had pushed
the jobless rate to 7.4 per cent.
"This is a very positive print that was entirely unexpected by anyone in
the consensus guessing game that must deal with a paucity of leading
indicators," said Scotia Capital economist Derek Holt. "The details are
uniformly positive."
Economists had expected about 10,500 jobs to be added in March, and the
jobless rate to remaining flat.
"The Canadian job market shook off its winter blues with authority in
March, likely aided by the incredibly mild weather," said Douglas Porter,
deputy chief economist at BMO Capital Markets. "With the fourth largest
monthly job gain in the past 20 years, this could change the tone of the
debate on the Bank of Canada, especially with the bank sounding a bit
more hawkish recently."
Many analysts expect the central bank to keep its key interest rate at a
near-record low of one per cent until next year.
"The bank won't be going anywhere soon if the European debt crisis heats
up again in a meaningful fashion," Porter said. "Nevertheless, this is a
very encouraging report that clearly shows the domestic economy still has
some underlying momentum — much needed, in a time of government
restraint."
There were 70,000 full-time jobs created in March, while another 12,400
part-time positions were added. The majority of those new jobs, 42,600,
were in the private sector. The public sector gained 20,900 positions.
"Employment gains in March were spread across several industries,
including health care and social assistance; information, culture and
recreation; and public administration. There was a decline in educational
services," Statistics Canada said.
Jobs were added in Ontario, Quebec and Manitoba, while New Brunswick and
Nova Scotia lost positions.
In last week's federal budget, Finance Minister Jim Flaherty said private
sector economists are forecasting economic growth of 2.1 per cent this
year and 2.4 per cent in 2013, little changed from the outlook in the
Finance Department's November update.
The Bank of Canada's most recent outlook for 2012 is for two per cent
expansion, followed by 2.8 per cent in 2013.
Scotia Capital's Holt, meanwhile, cautioned against reading too much into
Thursday's employment numbers. "There are multiple forces being traded
off here, so resist the urge to extrapolate. In fact, one very good
report is not yet enough to reverse the flattening trend in Canadian
jobs."
Canada’s job gains blow past forecasts
APRIL 5, 2012
The jump in employment last month was led by full-time private-sector
hiring.
OTTAWA — Canada's economy gained a surprisingly robust 82,300 jobs in
March, with the unemployment rate edging down to 7.2 per cent, Statistics
Canada said Thursday.
The jump in employment last month — led by full-time private-sector
hiring — follows a loss of 2,800 positions in February, which had pushed
the jobless rate to 7.4 per cent.
"This is a very positive print that was entirely unexpected by anyone in
the consensus guessing game that must deal with a paucity of leading
indicators," said Scotia Capital economist Derek Holt. "The details are
uniformly positive."
Economists had expected about 10,500 jobs to be added in March, and the
jobless rate to remaining flat.
"The Canadian job market shook off its winter blues with authority in
March, likely aided by the incredibly mild weather," said Douglas Porter,
deputy chief economist at BMO Capital Markets. "With the fourth largest
monthly job gain in the past 20 years, this could change the tone of the
debate on the Bank of Canada, especially with the bank sounding a bit
more hawkish recently."
Many analysts expect the central bank to keep its key interest rate at a
near-record low of one per cent until next year.
"The bank won't be going anywhere soon if the European debt crisis heats
up again in a meaningful fashion," Porter said. "Nevertheless, this is a
very encouraging report that clearly shows the domestic economy still has
some underlying momentum — much needed, in a time of government
restraint."
There were 70,000 full-time jobs created in March, while another 12,400
part-time positions were added. The majority of those new jobs, 42,600,
were in the private sector. The public sector gained 20,900 positions.
"Employment gains in March were spread across several industries,
including health care and social assistance; information, culture and
recreation; and public administration. There was a decline in educational
services," Statistics Canada said.
Jobs were added in Ontario, Quebec and Manitoba, while New Brunswick and
Nova Scotia lost positions.
In last week's federal budget, Finance Minister Jim Flaherty said private
sector economists are forecasting economic growth of 2.1 per cent this
year and 2.4 per cent in 2013, little changed from the outlook in the
Finance Department's November update.
The Bank of Canada's most recent outlook for 2012 is for two per cent
expansion, followed by 2.8 per cent in 2013.
Scotia Capital's Holt, meanwhile, cautioned against reading too much into
Thursday's employment numbers. "There are multiple forces being traded
off here, so resist the urge to extrapolate. In fact, one very good
report is not yet enough to reverse the flattening trend in Canadian
jobs."
Greg Carr
Apr 5, 2012, 11:16:48 AM4/5/12
to
than the US and Europe way to go Harper. The only person I knew who
was unemployed got a job this month at NCR.
NDP@35%
Apr 5, 2012, 2:51:09 PM4/5/12
to
Then you should wait until the 70,000 who've just lost their jobs in the public service become
a part of the next few months' stats.
"abc" <a...@a123.ca> wrote in message news:20120405-1...@abc.shawnews.vc.shawcable.net...
a part of the next few months' stats.
"abc" <a...@a123.ca> wrote in message news:20120405-1...@abc.shawnews.vc.shawcable.net...
M.I. Wakefield
Apr 5, 2012, 3:04:55 PM4/5/12
to
"NDP@35%" wrote in message news:6Ykfr.26728$pc1....@newsfe11.iad...
> Then you should wait until the 70,000 who've just lost their jobs in the
> public service become a part of the next few months' stats.
70,000? Got a source for that? Or is it yet another fundamental* number?
Because the budget announced cuts of about 19,200 jobs ... over the next
three years. And for the people being notified this week, it could take up
to 16 months before they actually leave the government.
---------
* - Referring to definition 1b from this site:
http://www.thefreedictionary.com/fundament
> Then you should wait until the 70,000 who've just lost their jobs in the
> public service become a part of the next few months' stats.
Because the budget announced cuts of about 19,200 jobs ... over the next
three years. And for the people being notified this week, it could take up
to 16 months before they actually leave the government.
---------
* - Referring to definition 1b from this site:
http://www.thefreedictionary.com/fundament
NDP@35%
Apr 5, 2012, 4:21:17 PM4/5/12
to
> "NDP@35%" wrote in message news:6Ykfr.26728$pc1....@newsfe11.iad...
>> Then you should wait until the 70,000 who've just lost their jobs in the public service
>> become a part of the next few months' stats.
"M.I. Wakefield" <none@present> wrote in message
>> Then you should wait until the 70,000 who've just lost their jobs in the public service
>> become a part of the next few months' stats.
news:p1mfr.25316$ID1....@unlimited.newshosting.com...
> 70,000? Got a source for that? Or is it yet another fundamental* number?
Yep. The source was on CBC last night and in several news articles today. Get busy.
M.I. Wakefield
Apr 5, 2012, 3:33:03 PM4/5/12
to
"NDP@35%" wrote in message news:Cgmfr.28207$cd7....@newsfe06.iad...
For those of you unfamiliar with Kkkooky Kkkaren, the translation for the
above is "Nope, I made that shit up."
above is "Nope, I made that shit up."
Cons@minority%
Apr 5, 2012, 6:07:56 PM4/5/12
to
Kim Dobranski aka "M.I. Wakefield" <none@present> wrote in message
news:Nrmfr.26278$ID1....@unlimited.newshosting.com...
news:Nrmfr.26278$ID1....@unlimited.newshosting.com...
> For those of you unfamiliar with Kkkooky Kkkaren, the translation for the above is "Nope, I
> made that shit up."
Go ask your kid, Dobranski . . . . he probably knows.
> made that shit up."
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