Jobless Rate In Canada Falls to 7.4%
June 13, 2011
One of those rare moments when we wish we could follow their lead.
From
Reuters:
The unemployment rate in Canada fell to the lowest level since January 2009 in May as the number of jobs increased by 22,300, an island of healthy data in a sea of recent figures showing tepid North American economic growth.
Statistics Canada reported on Friday that the jobless rate dropped from 7.6 percent in April to 7.4 percent in May, a number last seen when Canada was falling into recession at the start of 2009.
By contrast, the U.S. rate rose to 9.1 percent in May from 9.0 percent in April. That's half a point more than the highest jobless rate registered in Canada during the economic slump: 8.6 percent in August 2009.
"The jobs numbers were reasonably comforting news amidst other data that showed the second quarter is going to be a disappointment," said Avery Shenfeld, chief economist at CIBC World Markets.
More at
Reuters.