Jobs reports: US versus Canada

As mentioned in the previous post, the United States economy created fewer jobs than expected, but the unemployment rate unexpectedly declined. In Canada, the exact opposite occurred:

Canada’s job creation in January was more than four times the median forecast, pushing the Canadian dollar to its strongest level since May 2008 and adding to evidence the country’s economic recovery may be accelerating.

Employment rose by 69,200 and the labor force increased by 106,400, Statistics Canada said today in Ottawa. The jobless rate rose to 7.8 percent from December’s 7.6 percent, as more people sought work. Economists forecast 7.6 percent unemployment and job growth of 15,000, according to the median estimates of 25 and 26 economists surveyed by Bloomberg News.

So which would you rather have?

  • US: Unemployment rate declines but few jobs are created.
  • Canada: Many jobs were created but unemployment rate rose.

Let me know what you think in the comments.

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4 responses to “Jobs reports: US versus Canada

  1. Interesting…I think I’d take what’s behind door number 2. Then I’d toss the current Administration out of door number 1.

    • I would agree with you. In the short term, a lower unemployment is better. In the long run, we need job creation though to reduce unemployment and keep it low.

      Canada is beating us on both accounts: Canada is creating more jobs and has lower unemployment.

  2. Wow, makes me wonder why the Canadadian economy is improving, while we remain in the doldrums.

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