Immigration.ca - Canada Immigration News - November 2007
The Canadian economy was still going strong in October according to expert analysis of the data released last week. Statistics Canada reported an unemployment rate of 5.8%, which is a 33-year low, as well as the creation of 63,000 new jobs for the month. Average hourly wages were also up 4.1%.
The numbers far surpassed economic predictions and are being credited for the strong performance of the Canadian dollar in the international market.
Many financial experts, such as Steve Butler from Scotia Capital, are optimistic about the near future of Canada's economy. �It just goes to show that Canada still looks great and I expect that we're going to see some further strength today.� Butler said in an interview with the Financial Post.
The sectors reporting the most growth were the public and private service sectors while the manufacturing industry saw a bit of a drop. This is normal in the service sector economy that Canada is moving toward, and experts at the Post predict a continuation along this path, �as more manufacturing shifts overseas and the population ages and becomes wealthier, fueling hiring in health care, financial services and personal care industries.�
Source: The Financial Post
http://www.canada.com/nationalpost/financialpost/printedition/story.html?id=d70e9d29-9c99-41a5-b507-5f5f37c780d6
http://www.canada.com/nationalpost/financialpost/story.html?id=2005add8-20d6-4848-8ee2-057e61150cd0&k=16050
