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Looking for a job? Economists across Canada are reporting that now is the time to be on the hunt for employment, as job growth experienced quite the spike last month. As Mark Dunn reported in The Toronto Sun last week, job gains almost quadrupled the expectations that were made for September.
In fact, Statistics Canada reports a growth of 61,000 jobs last month, with nearly all of them being full-time positions. This has lowered the national unemployment rate from 7.3 per cent to 7.1. As well, these findings have helped to lessen what appeared to be growing tension across Canada, that the country would soon be falling on hard economic times.
In both the United States and Europe, there is still a stress on the economy and jobs are becoming harder and harder to come by. Thankfully, there is cause for some optimism on the home front as Canada continues to demonstrate its prowess in bouncing back from the recession of a couple years ago.
According to Finance Minister, Jim Flaherty: “September’s job growth shows Canada is on the right track for steady, modest job creation and economic growth. But too many Canadians are still looking for work and the fragile global recovery – especially in Europe and the United States – will continue to have an impact on Canada.”
Naturally, when a country falls on hard times financially, the primary concern of its citizens is the loss of jobs. Especially with the holiday season fast approaching, the necessity of having a steady income is at its highest point for people all over the country. Thankfully, as Dunn points out, the current unemployment rate in Canada is the best it has been since 2008.
This is thanks, in part, to the province of British Columbia, which led the nation with 32,000 new jobs being created last month. The west coast province was followed by Saskatchewan, New Brunswick and Prince Edward Island as leaders in job growth, while Ontario, Alberta and Quebec remained even.
Not all Canadians are bound to view this recent finding with optimism, however. But, at least, it shows some promise. This is the sentiment felt by Craig Wright, Royal Bank’s chief economist. Said Wright: “Our view is one of cautious optimism. We see an uncertain, uneven and underwhelming recovery, but a recovery nonetheless.”