Tom Sweeney

It's a coming of age tale….

Friday is dooms day….

Posted by sweens on February 6, 2009



As I briefly mentioned earlier in the week, a report that came out today shows that January was the worst month for employment in Canada in the last 3 decades.  Canadian employers were forced to cut a record number of 129,000 employees which drove unemployment up from 6.6% to 7.2%.

 

Statistics Canada has reported the downturn in employment as the largest since 1976.  The manufacturing sector was one of the hardest sectors hit setting record numbers of lost jobs.  Of the 129,000 jobs lost, 100,000 of them them came from the manufacturing sector.

 

While this situation has affected everything from the Canadian dollar to the housing market, economists are suggesting that Canadians will climb out of this economic downturn quicker then previous economic situations. 

To read more, please visit:

http://ca.news.yahoo.com/s/reuters/090206/business/cbusiness_us_economy_jobs_canada

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