Feb 4, 2011
Canada added 69,200 job in January. That is 2x more jobs created in January than the US – and the US has a 10x larger population, quite amazing eh?
Canada’s job growth was four times greater than what was forecast and the growth has pushed the Canadian dollar to its highest level since May 2008.
Even the DrudgeReport is taken aback by the numbers giving the story its headline spot this morning.
Canada’s explosive job growth bodes well for Canada’s housing market and casts further doubt on an impending housing collapse.
“This adds confidence to the notion we are headed for a better year for growth and growth in the job market,” said Mark Chandler, head of Canadian currency and rates strategy at Royal Bank of Canada’s RBC Capital Markets unit in Toronto. “There isn’t a lot of slack in the labor market in Canada, certainly on a relative basis to other countries.”