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Friday, February 4, 2011

Stunning job numbers

In what was the biggest gain in net new jobs since April of last year, Canadian jobs data for January—a net gain of 69,200 jobs—was nothing short of stunning as it surpassed all expectations and was more than 4 times greater than the market’s consensus.

The numbers show that new jobs were spread nicely among self-employed work, 20,100; full-time work, 31,100; and part-time work, 38,000. Looking back to the same month last year, we see excellent job creation gains in which part-time employment grew 91,000, while full-time jobs increased 236,000.

Among these very positive gains, I noticed that manufacturing was able to add 4,000 workers in the month, which comes on the heels of December’s surprising gain of 66,000 jobs.

These numbers testify to the sound management of Prime Minister Harper and his team in steering us through the financial crisis and resulting recession from the latter half of 2008 through early 2010. Recovery through 2010 was slow, but seems to be gaining speed—something to be thankful for.

One sour note was sounded, however. Over the past 12 months, 118,700 jobs were added to the already bloated public sector. For how much longer can our governments sustain this level of growth? They’ve got to start paring back and farming services out to the private sector where wages and benefits are at a more realistic level.

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© 2011 Russell G. Campbell
All rights reserved.

2 comments — 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. yeah i dont like those public sector numbers either. a job recovery with those kinds of figures smells bad.really bad.
    brad

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  2. Private companies boosted their payrolls by 22,700 during the month of January, but government employment increased by 26,400, according to Statistics Canada.

    From ProudToBeCanadian.ca: http://www.proudtobecanadian.ca/blog/

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