Time magazine reports that Canadians may have achieved what Americans still long for: an upturn in national sentiment, and a job machine that hums. In fact, Canada’s job creation engine is on a roll, producing more jobs than the U.S.
America's northern neighbour created 93,000 new jobs in June - nearly 70 per cent of which are in the industrial heartland of Ontario - continuing a trend of job growth in service industries, including retail, wholesale trade and construction. By contrast, private employers in the U.S. added 83,000 jobs in June. However if you factor in the loss of 225,000 temporary Census jobs in government, the U.S. labour market contracted by a dramatic 125,000 workers last month.
The economy has created 403,000 jobs in the last two years, making back nearly all the losses suffered during the recent global crisis. The bad news is that its manufacturing sector continues to shrink, losing 14,000 jobs in June. That means high-paying manufacturing jobs in the industrial heartland of Ontario are being replaced with lower-paying service jobs with few benefits and even less security. (August 4th 2010)
Sources: Time, Financial Post