This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Canadian Economy Created 40,000 Jobs In December

TORONTO (AP) â¿¿ The Canadian economy created 40,000 full-time jobs in December, driving the unemployment rate to its lowest in four years, Statistics Canada said Friday.

The federal reporting agency said the unemployment rate slipped by one-tenth of a percentage point to 7.1 percent.

The results easily topped economist estimates for a gain of just 5,000 jobs nationally and an unemployment rate of 7.3 percent.

The better-than-expected December results follow what was a strong November, when Canada's economy created 59,300 jobs.

"Canadian employment not only defied expectations in December, it also appears to be defying gravity," said Doug Porter, the Bank of Montreal's deputy chief economist.

"The Canadian labor market finished 2012 in fine fashion, posting solid job gains in four of the last five months and driving the jobless rate to its lowest ebb in four years."

December saw 41,200 new full-time jobs added, while the number of part-time positions fell by 1,400.

Compared with a year earlier, Statistics Canada said there were 312,000 more jobs, all in full-time work.

Ontario led the way with a gain of 33,000 jobs in December, following a similar increase in November. Most of the other provinces posted gains or were little changed for the month.

The gains were made in the transportation and warehousing segment which added 22,000 jobs, while the construction industry gained 18,000 jobs.

Professional, scientific and technical services lost 42,000, while public administration dropped 13,000.

The new jobs were added in a month of much handwringing over the U.S. fiscal cliff and worries that if a budget deal was not reached Canada's largest trading partner could be tipped back into recession.

A last-minute deal this week has prevented taxes from rising on the middle class and the poor. However, U.S. lawmakers still must wrangle over spending cuts and raising the country's debt ceiling.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,126.12 -36.87 -0.20%
S&P 500 2,120.79 -2.69 -0.13%
NASDAQ 5,097.9760 -8.6170 -0.17%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs