Canada's recovery from recession slow, loses 45,000 jobs

By ACP / Editing Staff
August 07, 2009

With respect to the fact that the Bank of Canada hinted the recession in Canada is over, new unemployment figures suggest that economists' forecasts have been tripled, led primarily by the contruction and tourism-related industries.

Canada's jobless rate remained steady at 8.6% in July. Statistics Canada released the figures this morning. 45,000 jobs were lost, this didn't change he overall jobless rate as some people dropped out of the job market or gave up looking for work.

Most of the jobs were lost in Quebec in the manufacturing industry. Saskatchewan and Newfounland Labrador lost a few jobs, while the remainder of the provinces remained unchanged.

The tourist trade was affected in the job figures. 22,000 jobs were lost in accommodation and food services, while 24,000 jobs were gained in wholesale trade. The construction trades lost 18,000 bringing the total to 120,000 since October. Manufacturing has dropped 218,000 since October.

Self Employment continues to rise, adding 35,000 jobs last month.


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