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Monday, January 31, 2011

Economic update: GDP and jobs

In November, Canada’s GDP by industry advanced 0.4 per cent on a “real” (i.e., inflation-adjusted) month-to-month basis, according to Statistics Canada. Annualized, that’s a 4.9 per cent growth rate. Service-producing industries (+0.5% month to month) outpaced goods production (+0.1%).

Also, after an annual revision of employment data as conducted by Statistics Canada, and taking into account current population figures, Canada now stands about 30,000 jobs short of where we were prior to the recession-induced decline that began in the fall of 2008—very respectable performance considering the severity of the recession. Canada lost 420,000 jobs in the recession and has gained almost all of them back.

…more here

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1 comment — This is a moderated blog and comments will appear when approved. Please don’t resubmit if your comment doesn’t appear immediately, and please do not post material that is obscene, harassing, defamatory, or otherwise objectionable.

  1. i really dont trust the govt inflation numbers. they use core cpi which does not include energy. i think all ontarians noticed the seven extra cents per litre last july. if the inflation figure is fudged (which it definitely is) than i do not trust the deflator used to calculate GDP. when the inflationary money starts running out of steam and interest rates start going up, were back to square one.

    brad

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