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Economic Research

Canadian Employment Surges in January, Set to Moderate Ahead

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7:00:00 AM | Last Updated

The Canadian economy created an impressive 69,200 jobs in January 2011, well above the RGE and average market expectations of 15,000. This outsize monthly gain—the highest since April 2010—takes Canadian employment back to the mid-2008 levels. As noted last week, recent statistical revisions showed that the Canadian economy had not in fact regained prerecession levels in mid-2010. The unemployment rate, however, rose to 7.8% in January from the previous 7.6% as the labor force expanded by 106,400 for a labor participation rate of 67% from 66.7%. As the number of job seekers[...]

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