Record number of jobs created in September
'Seems like everyone has a paper route these days,' economist says
Oct 11, 2008 04:30 AM
The Canadian Press
OTTAWA–Prime Minister Stephen Harper leapt on the news that Canada created a record 107,000 new jobs last month as evidence his government has the right policies for the economy.
The massive number – the largest since Statistics Canada began tabulating labour statistics in this manner in 1976 – shocked economists who had been forecasting a modest pick-up in the 12,500 range.
However 90 per cent of last month's new jobs – 97,000 – were part-time, and the official unemployment rate remained at 6.1 per cent because more Canadians were looking for work.
"It seems like everyone has a paper route these days," commented CIBC World Markets economist Avery Shenfeld. "How else to explain how Canada created 97,000 part-time jobs in a single month, during a period of severe economic strain across the country?"
The Canadian Labour Congress said the "low-quality" new jobs offer "an omen of tough economic times."
Statistics Canada concedes the survey of 53,000 households has an error factor of plus or minus 43,500 jobs from the 107,000 number, 90 per cent of the time.
Is it just me or does there seem to be a lot of franchises going up all over the place. Is this the future job growth Canada is producing and needs immigrants for?