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Canadian economy has biggest jobs gain in eight years

After a tough couple of years and a crawling recovery in recent months, finally, some great news!

A record 108,700 jobs were added to Canada’s economy in April according to Stats Canada, signalling growth and better times to come. A large portion of this increase (approximately 2/3) was men over 25 years old returning to the workforce. 65,000 of the jobs were part-time and 44,000 were full-time!

This has taken everyone by surprise, as the growth is four times the consensus forecast. And while increases were seen in all provinces, Ontario, Quebec, British Colombia and Manitoba had the most job growth.

Jobs aren’t the only thing that went up – wages have gone up as well, by about 2%.

So who is doing all the hiring? Retail and wholesale companies were the industries that led the pack, according to an article in Business Week this morning, which also goes on to report:

The International Monetary Fund said April 21 Canada will grow the fastest among Group of Seven countries this year and next, with an expansion of 3.1 percent in 2010 and 3.2 percent in 2011.

Go Canada!!

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