Canada Creates More Jobs In December Of 2012

Posted by Alan Zunec on Friday, January 11th, 2013 at 12:51pm.

December employment numbers in Canada were decidedly up. The month saw 39,800 net new jobs, following the 59,300 new jobs already on the books for the prior November.  The average for the last quarter of 2012 came in at 33,600 per month, much higher than the 19,000 per month average seen in the third quarter of that year. Looking at the first half of 2012, the average for that period was a gain of 26,000 jobs on average per month. The unemployment rate at the end of 2012 was at 7.1 percent, beating out the 7.5 percent seen at the end of 2011. The rate was the lowest seen since the end of 2008.

Most of the jobs came from the private sector. For the fifth month in a row the service industry saw hiring increases, while in the manufacturing and construction industries nearly 60 percent of the jobs that fell by the wayside this past October and November were recovered. 15,200 new jobs went on the books in those sectors. Public administration did see a reduction of 12,600 jobs and those in the professional and scientific community saw 41,000 jobs lost.

Looking at 2012 as a whole, employment nationwide increased by 311,900. The service sector got 225,400 of those jobs with the goods producing sector gaining 86,500 jobs. Manufacturing saw the bulk of that sector’s jobs, some 53,600 which was the most gained since 2002. Construction did slow somewhat in 2012 so that sector netted 12,000 jobs. The services sector included jobs in health services, education, real estate, insurance and finance.

Wages also saw a 2.5 percent average increase in December of 2012 compared to the same month in 2011. Year over year, 2012 saw a 2.9 percent increase in wages by year’s end. This is the largest increase seen since 2009.

Ontario increased its jobs numbers by 33,000 this past December with an unemployment rate of 7.9 percent, the same as in 2011. Job gains were seen in Newfoundland and Labrador, Saskatchewan, Manitoba and PEI. Nova Scotia saw a decrease of 5,000 jobs this past December. The other provinces remained largely on par with November.

Of the new jobs created across Canada, 98 percent were full time positions. The job market was unexpectedly strong, given the GDP in October coming in at a 0.1 percent increase. The passing of the Bush tax cut measure by the United States Congress is expected to bolster Canada’s economy and employment picture even more in 2013.  For now the Bank of Canada will keep mortgage rates the same to make sure the country’s economic growth remains steady.

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