Canada Creates More Jobs than America
The Huffington Post reports on Canada's surprisingly robust level of job creation:
Stubbornly high unemployment rates got you down? Not sold on the economic recovery? Look no further than America's polite neighbor to the north, where jobs numbers are surging and home prices have been rising steadily for nearly a year.
Last month, Canada, a nation with roughly one tenth of our population, created about 10,000 more new jobs than America.
Yes, Canada's economic recovery is outpacing our own. In terms of sheer job creation, June saw Canada create jobs at a pace that was five times the rate predicted by economists, Bloomberg News reports. Canada added 93,200 jobs in June, while U.S. private employers added just 83,000.
Thanks to strong hiring in the service sector, Canada's unemployment rate fell to 7.9 from 8.1 percent, while America's unemployment rate came in at 9.5 percent in June, falling only because of a large exodus of Americans looking for work. All told, the U.S. lost 125,000 jobs in June because of a wave of Census layoffs.
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