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Employment in Canada

Well both the US and Canada published their new job numbers for January, while the number in the US at 236k was respectable Canada's number at 51k was a blow out.  Amazingly, this is as if the US had created 500k jobs in January -- so it gives a sense of proportion.

Canadian unemployment trend



The big winners were Ontario +30k and British Columbia +20k.  The big looser was my province, Quebec, that saw virtually no growth.  No point in "pointing fingers" the current government's policies (especially on language) is doing a great job at pissing off people that would/could create jobs here.  Its not that they are "socialists" is that they come across has having only electoral priorities.  It may not work out for them.

However, for Canada overall the news is excellent   One of my new favorite blogs Sober Look has an excellent piece about Canada -- interesting though process, some of the analysis is incorrect, but still generally valide.   His overall point is that America is awash with oil (true for the time being) that Canada's cost base has risen (as the CAD has risen) and that housing is now much more expensive than in the US (not true for most of the country).  Still the new governor of the Bank of Canada will have his work cut out.  Right now the Canadian Government is looking at a rosy scenario; employment is up, more Canadians are looking for work.

Good news

Although this will not help the CAD which remains weak against the USD.

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