Welcome Rebound in Labour Markets in December
Dr. Sherry Cooper, chief economist for Dominion Lending Centres, states that the job market has rebounded in December and we can breathe a sigh of relief.
The unemployment rate has reversed itself and erased almost half of the decline in November. This ended the second best year of job growth since the recession. This reinforces the position of the Bank of Canada who supports the view that Canada’s economy is resilient.
35,200 net new jobs were created in December bringing the years total new jobs to $320,200 bringing down the jobless rate to 5.6%. The good news too was that all the job gains were in the private sector and full time. Ontario and Quebec with a jobless rate of 5.3% led the gains while BC led the declines in December.
For further info on Canada’s economic report please visit http://ow.ly/Aujs30qa2yD