Canada Jobless Rate Rose for Third Month in December to 7.5%

[marmar]

(Bloomberg) Canada’s unemployment rate (CANLXEMR) rose for a third month in December, the longest advance in two years, as a gain in jobs trailed growth of the labor force.

The jobless rate increased to 7.5 percent from November’s 7.4 percent and the recent low of 7.1 percent in September, Statistics Canada said today in Ottawa. Employment (CANLNETJ) rose by 17,500, the first gain in three months. Over the past six months, the number of jobs has grown by 7,400, compared with a gain of 191,800 in the first half of 2011.

The labor market may stay stalled in 2012 with unemployment averaging 7.4 percent, according to a Bloomberg News survey of economists taken last month. Prime Minister Stephen Harper said “the news isn’t all good” in today’s report, speaking to reporters in Edmonton, Alberta.

“Job growth has cooled,” said Doug Porter, deputy chief economist with BMO Capital Markets in Toronto, by telephone. “I wouldn’t at all be surprised if we are averaging 10,000 jobs a month, which won’t cut into the unemployment rate at all” over the next six months, he said. ...................(more)

The complete piece is at: http://www.bloomberg.com/news/2012-01-06/canada-s-jobless-rate-rose-for-third-month-in-december-to-7-5-.html