Posted on 09/04/2009 5:41:14 AM PDT by Clive
OTTAWA -- Canada posted a surprising gain in employment in August as the economy showed signs that it was pulling out of a recession.
Statistics Canada said Friday that 27,000 positions were added during the month, compared with more than 44,000 losses in July. The unemployment rate edged up to 8.7% in August from 8.6% the previous month. The gains were led by part-time workers and among private sector employees, the federal agency said.
"Since employment peaked in October 2008, total employment has fallen by 387,000 (down 2.3%)," the agency said. "The trend in employment, however, has changed recently. Over the last five months, employment has fallen by 31,000, a much smaller decline than the 357,000 observed during the five months following October 2008."
Most economists had expected the economy to lose jobs in August, with the consensus being about 15,000 fewer positions. They also expected the unemployment rate to rise to 8.8%.
On Thursday, the Organization for Economic Co-operation and Development said Canada's economy will contract 2% in the third quarter of 2009 before edging up 0.4% in the final three months of the year.
That's in contrast to forecasts by the Bank of Canada, which expects the country's gross domestic product to grow 1.3% in the third quarter of this year, followed by a 3% gain in the final three months of 2009. The central bank also forecast the economy will contract 2.3% overall this year and grow 3% in 2010.
Last week, Statistics Canads reported GDP increased 0.1% in June, even as the second quarter declined overall by 3.4%.
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(Excerpt) Read more at nationalpost.com ...
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Probably didn’t have any zillion dollar stimuli. Guess they were too backward.
One key difference - Canada has a conservative leader.
Stephen Harper = Unassuming sane conservative
Obama = Yeah...
It is summer time...what would anyone expect...construction resumes, farmers are working the fields....students are cutting grass in the park...
Big deal, Canada: Our unemployment rate rose more slowly than predicted! Now that’s good news!
Trust but verify :)
So, why didn't it happen here?
I sure it did....and guarantee that 27,000 jobs were found in the last month, but were over-shadowed by the greater unemployment numbers....
Canada is a good “control” to compare Obama’s results. Of course, Obama previously told us what the unemployment would be without his stimulus, and WITH his stimulus it has gotten WORSE.
But now we see that Canada, without wasting 10s of billions of dollars, or doing all the crazy things the liberals are doing, is recovering much better than the United States.
This is embarrassing, of course, but that’s what we get by electing “change” when we were doing so much better before.
Got it in one. Also, no cash for clunkers, no school lunch program, no food stamps, no child left behind. I could go on.
We have a Prime Minister who knows "global warming" is hokum and Kyoto is nonsense. Fortunately we are also blessed with an opposition (liberal) leader who is in the process of committing political suicide. Things aren't so bad in the great white north.
Keep on talking like that and watch out for the sudden influx of Yanks.
That’s the bad news. Good news is that the first thing most of us would do is look up those Viet Nam draft dodgers still in Canada and kick their butts all the way back over the border.
Smiling with every step.....
UVNV, where have you been? Carter gave them all amnesty. You can have them, in fact, you’ve got them.
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