CBC: Economy in Slow Growth Mode

Canada in slow-growth mode

“Canada’s economy has slipped into slow -growth mode, and the numbers today suggest that this carried forward into the early part of the year,” he said.  Canadian employment data has been very volatile on a month to month basis, so one needs to keep things in perspective.  While the biggest growth in jobs has come from the public sector, Burleton said, the biggest source of weakness has been the self employed – which are less stable positions and not the same quality of jobs as those in the private paid sector.

According to Statistics Canada, the sector with the biggest job gains across the country in January was the utilities industry, which includes such things as power generation, natural gas and electricity distribution, sewage treatment and water supply. Utilities saw a 4.8 per cent increase in employment from December 2011 to January 2012, although year-on-year employment was down 4.2 per cent.

The biggest losers across Canada in January were professional, scientific and technical services, where employment dropped by 3.3 per cent, but in terms of longer-term performance this sector was actually up 1.8 per cent year-on-year.

According to the latest numbers from Statistics Canada, teaching is the most sought after yet unavailable job in Canada. For every teaching position open across the country there are 10 people looking.

Alberta had biggest jobs increase

Between January 2011 and January 2012, the biggest job gains were in the natural resources sector, which includes forestry, fishing, mining, quarrying and oil and gas. That sector saw an 8.5 per cent increase in employment year-on-year and a 1.1 per cent bump from December 2011 to January 2012.

For a province-by-province breakdown of which industries had the biggest job gains and losses, click here.

The biggest drop in employment from January 2011 to January 2012 was in the finance, insurance, real estate and leasing sector, where it decreased 4.6 per cent.

Alberta’s job market outperformed the rest of the country with the biggest increase in employment year-on-year — 3.9 per cent — followed by P.E.I., which had a 2.4 per cent increase in employment between January 2011 and January 2012. (All figures are seasonally adjusted, and StatsCan does not include the territories in this set of job figures.)

Quebec fared the worst: its overall employment level was down 1.1 per cent year-on-year, although it had a modest 0.2 per cent up-tic in employment between December 2011 and January 2012.

Source: CBC News

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