Tom,
of course the implication for you guys of this post is possible loonie weakness.. or at least tracking the USD.. Manufacturing does count after all...
First time retail has surpassed manufacturing... hence wage deflation up here..
Many appear to be choosing the retail option. As of the end of 2007, factories employed 1,784,700 people, down 3 per cent from 2006. At the end of last year, 1,790,000 people were working in retail, up 4.4 per cent from 2006. (The health care and social assistance sector is the third-largest employer in Canada, with about 1.5 million workers.) The coming year does not hold much promise.Many appear to be choosing the retail option. As of the end of 2007, factories employed 1,784,700 people, down 3 per cent from 2006. At the end of last year, 1,790,000 people were working in retail, up 4.4 per cent from 2006. (The health care and social assistance sector is the third-largest employer in Canada, with about 1.5 million workers.) The coming year does not hold much promise.
full article @
theglobeandmail.com
I know that one quarter does not make a trend.. but we Canucks certainly are not decoupled from the US.. less dependent but the frying pan is not much better than the fire... :O)
OTTAWA — Canada's economy contracted in the first quarter of the year, the first time in five years that the country's output shrank outright, raising the spectre of a recession. But Finance Minister Jim Flaherty quickly dismissed such fears.
full article @
ctv2.theglobeandmail.com
The Black Swan |
