Jobs are true indicator of a strong economy
The true indication of an economy's strength comes down to one factor: jobs.
Since the 2008 recession, the stock markets have recovered, various sectors of the economy have rebounded -automotive, for example -and there has been some growth, although it's not been substantial.
That many businesses have strengthened their market position as the recession has eased is good news; it would be much better if they were re-hiring the employees shed when times were bad, or creating new employment.
The most recent jobless numbers show that's not happening, however.
Statistics Canada says the unemployment rate climbed to 7.6% in January; our economy continues its struggle to produce jobs in numbers large enough to absorb the increase in Canadians looking for work.
Only 2,300 jobs were created in 2012's first month and the nation's unemployment rate increased due to more people looking for work. Economists had expected much more, 25,000 new jobs for the month, partly because of the unseasonably warm temperatures that could have encouraged more hiring in some industries.
But it just didn't happen, and was compounded by 23,700 more Canadians who joined the labour force, accounting for the climb in the unemployment rate.
There was reason for optimism last summer/fall with the jobless number; it hit 7.2% in September, a post-recession low. But now January marks the third month in the last four the unemployment rate has risen.
The job news isn't all bad, however. Canada's economy has produced 129,000 new jobs during the last 12 months, or a 0.7 per cent gain in employment; but that's one of the weakest records in a non-recessionary period in many years. And only 20,000 or so jobs have been added in the last six months
This drop-off in job creation has coincided with generally weaker economic conditions and declining business confidence, due to uncertainty in the global market situation.
Jobs are true indicator of a strong economy
If you mean economically productive jobs, then I agree. This does not apply to make-work jobs though.