6 May 2011

Canadian unemployment rate is going down


According to Statistics Canada’s recent report, Canada’s unemployment
rate has decreased by 0.1% in April and reached the level of 7.6%. It
says 58,300 new jobs were created last month.  
It means that full-time employment is back to its October 2008 level, when the recession started.
It
should be noted that part-time jobs took the largest part of the gain
(41,000). In the same time, 17,200 full-time jobs were created.

The report says April’s job-creation level turned out to be a surprise for economists who had expected only 22,500 new positions.  
In Ontario 55,000 jobs were added in April. So the province’s unemployment rate fell by 0.2% to 7.9%. It’s the lowest level since December 2008.
Meanwhile, economists say that income gains can significantly affect Canadian economy.
“The deal is that real wage gains are quite flat and it will hardly cause the consumption level increase,” – said Scotiabank economists Karen Cordes.

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