Economic vitality between the U.S. and Canada Oct.09/07
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www.forexmentor.com News: Job figures released on Friday, October 5/07, suggest that there are no employment woes to be concerned about either in Canada or south of the 49. All of a sudden, the housing and credit crises have been shoved way back into the background. So, what’s the real story here anyway?
If the U.S. economy is not on the verge of recession, it is still slowing. Despite the unexpected revisions to U.S. payrolls, analysts point out that job growth is still slowing. Averaged gains of 90,000 per month over the past four months is less than half of last year’s pace.
In Canada, the bulk of hiring has been in the public sector. Private-sector payrolls, which normally account for two-thirds of employment in Canada, have accounted for only 15% of total job creation since the start of the year.
Source: National Post – Jacqueline Thorpe, Saturday, October 6/07
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