Last Updated on January 24, 2019
In November 2014 he U.S. economy added 321,000 jobs, exceeding forecasts and putting the country on track for the most successful year for job creation since before 2000.
Unfortunately this level of employment growth is still not realistically attainable for Canadians. Despite previous job gains, November brought more losses for the economy. Employment in Canada fell 10,700 from October, while unemployment increased to 6.6 per cent. Given how much of a see-saw the labour market has been on over the last year this is not too surprising. However economists believe the outlook for Canadian jobs is improving.
Three important factors are involved in judging the state of the job market: employment levels, hours worked and average hourly wages. Taken together, the combined annual growth rate of these three factors shows an economy suffering from a combined growth rate of 2.4 per cent. At this level the index is well below its 15-year average of 5.7 per cent and employment growth remains at nearly the weakest level it’s been in a non-recession year.