Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (43190)	3/11/2006 3:19:19 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69260

March 11, 2006 Jobless Rate in Canada Fell to 6.4% in February By REUTERS OTTAWA, March 10 (Reuters) — The Canadian economy added 24,700 jobs in February and the unemployment rate returned to historic lows, the government statistics agency said Friday, but all the gains were in part-time employment. Canada's jobless rate fell to 6.4 percent, from 6.6 percent in January, matching the 30-year low set in November. The rate fell as the economy gained 56,300 new part-time jobs and lost 31,600 full-time ones, the agency, Statistics Canada, said. Analysts said the mixed picture would do little to sway the Bank of Canada, which signaled this week that it was deliberating whether to raise interest rates further. But analysts did point to a worrying increase in labor costs that was well above the 2 percent target rate of inflation, and said this could add to pressure to raise rates. They also said the data pointed to a split in the economy, with Alberta gaining 25,000 new jobs as it developed its oil sands, but central and eastern Canada not faring as well. Alberta's jobless rate is 3.1 percent. "What the report does highlight is national divergence that we're now seeing across regions, where we see that all the jobs created were in Alberta and British Columbia, whereas central Canada continues to trail behind," said Stefane Marion, assistant chief economist at National Bank Financial in Quebec. Over the last year, employment has increased by 275,000, or 1.7 percent, almost half of which has been in British Columbia and Alberta. Over all, the goods-producing sector added 30,500 jobs, while the services sector dropped 5,800. The manufacturing sector, hobbled by a stronger Canadian dollar that hurt exporters, added 12,800 jobs last month after losing 41,600 in January. Statistics Canada said the average hourly wages of permanent employees rose 3.2 percent from February 2005.