Statistics Canada has released its January 2010 report of payroll employees. It has found that the total hours of a payroll employee increased in January by 0.3%, while non-farm payroll employment remained the same. The timely increase was mostly in transportation and warehousing, health care, construction, mining, quarrying, oil and gas extraction sector and finance.
The finance sector continues to grow, increasing by 15,700 or 2.3% since August 2009 while oil and gas extraction has turned upwards adding, 4,800 payroll jobs during the same time period. Construction rose by 3,500 with health care trailing behind with a 1,600-job growth. Employment services, which includes placement agencies, human resource management and temporary services, rose by 4,100 since last August. Statistics Canada found the employment levels in the motor vehicle assembly, motor vehicle parts as well as body and trailer manufacturing to remain stable.
Even though the construction sector increased by 2,500 jobs, these gains were offset by the decline in the service sector with the largest of them being in educational services, arts, entertainment and recreations and public administration. The manufacturing industry also suffered a slight down-slope in payroll employment since August. Hardest hit were the pulp and paperboard mills, printing and related activities and the meat product sector. However, during the same period, other manufacturing industries with payroll increases include petroleum and coal products, plastic product manufacturing, seafood product and preparation and the beverage sector.
The average weekly earnings rose 5.3% in educational services while public administration increased by 4.6% followed by 4.1% in health care and social assistance, 4.0% in accommodation and food services and 2.6% in manufacturing. The average weekly earning of payroll employees, including overtime, rose to $834.47 in January, which is up 2.1% from the previous year. During that same time, average weekly earnings were down by 1.5% in retail trade and 0.4% in construction.
Investors in the United States had expected an increase of 40,000 jobs for the month of March. Instead, the US economy lost 23,000 non-farm private-sector jobs in March, a number that has dramatically worsened the market. March's job losses were not as high as the 24,000 job losses the United States experiences in the previous month of February.
It seems that the Canadian economy is bouncing back much quicker and healthier than economist expected. With this good news, it is still a wise idea to spend carefully. If you were affected by the recession in a way that has affected your credit rating with payment defaults, now may be a good time to consider a bad credit loan to consolidate your debt.
Author Resource:-
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