This is an article from the Globe and Mail's Globe investor web site. Its a subscription service so I will post the entire article. It short but cant post a link. It will give you an idea as to what is going on in the Great white north.
Quote:
Canada's job market in deep freeze
More than 43,000 Canadian jobs vanished in October, suggesting that after two consecutive months of gains, companies are waiting for more signs of a sustained recovery before they begin hiring again.
Canada's unemployment rate rose to 8.6 per cent, up from 8.4 per cent a month earlier, and a continued trend to self-employment shows the cold job market is forcing many to create their own work.
But behind the bleak headline number that was released by Statistics Canada Friday, there is a subtle shift in the wind.
The economy has now added full-time jobs for two months in a row as part-time work receded, suggesting there are at least some signs of optimism. Also, higher-paying jobs were created in October in areas such as construction, while positions were shed in the lower-paying retail sector.
“The details of the report were mostly weaker, with the only positive news that the entire drop was in part-time jobs, while full-time positions recorded a decent gain,” Benjamin Reitzes, an economist at BMO Nesbitt Burns, said Friday.
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Like I said it will take time for this to play out. But we are going to have to look beyond the headline for the real indicators.