This article was last updated on April 16, 2022
Canada: 
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Statistics Canada released a survey report on Friday, showing that the Canadian economy has generated an estimate of 40,000 jobs in December, all full-time jobs, which has consequently lessened the country’s unemployment rate down to its lowest figure in last four years. The report highlighted that Ontario has made the maximum contribution, i.e. almost three-quarters of the overall jobs generated in Canada during December. Whereas, all remaining provinces either saw gains or stayed even, with the only exception of Nova Scotia, which lost 5,000 jobs.
This results have widely overreached the expectations of our economists, who forecasted a maximum gain of mere 5,000 jobs nationally, which would have kept the unemployment rate at 7.3 per cent. These better than expected results are attributed to the growth in November, when Canada’s economy generated 59,300 jobs, whereas later in December it added 41,200 new full-time jobs added. Compared with the statistics of the preceding year, Statistics Canada found an addition of 312,000 jobs of full-time work. This good news has come at a time of imminent threat of the so-called fiscal cliff in the United States, which worries majority that in case their budget deal was not finalized, Canada’s largest trading partner might be tipping back in recession.
Ontario had the maximum increase of 33,000, while Manitoba saw an addition of 5,200 jobs and Saskatchewan generated 4,000. On the other hand, number of jobs added by Newfoundland and Labrador and Prince Edward Island was 2,700 and 1,300, whereas New Brunswick, Alberta, Quebec and British Columbia saw little or no change for the month.
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