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Canada’s job vacancies include some amazement

Canada’s job vacancies include some amazement

Feb 12,2016

With product prices in free-fall — oil, Canada’s top natural resource export, is considering 13-year lows in prices — it was no disappointment when the country as a whole lost 5,700 jobs in January, according to Canada statistics.

But it was prominent that in the similar time Ontario gained 7,500 job opportunities. The growth didn’t come from construction or manufacturing, a zone that has picked up in new months, but a little from the employment sector, which can add lot from retail jobs to accounting, engineering and consulting.

“When I looked at the figures, I sort of zoomed in on Ontario, because it was the only province that showing growth,” said Hendrik Brakel, senior director of economic, financial and tax policy at the Canadian Chamber of Commerce in Ottawa.

“But according to the statistics 2,900 jobs lost by Ontario manufacturing in january; Ontario’s service-generating industries picked up 22,600 jobs. This has been a continuing movement where we’ve seen low or declining trends in manufacturing and it’s the service industries that have seen the biggest gains.”

All over the country, for the goods-producing sectors — lot from forestry, fishing, mining, oil and gas — 25,300 jobs lost by canada, Brakel said. “And countrywide, in the service-producing sector, 19,700 jobs were picked up.”

The enormous losses are in the oil and gas sector.

The narrative Brakel repeatedly hears is that since Canada now has a low rate in dollar and business with a growing United States economy; it must be seeing recovery in manufacturing.

“And continuously we are seeing pickups in Canadian manufacturing exports,” he said. “14 per cent increase in auto; aerospace was up 22 per cent. But it’s not converting into jobs.”

Manufacturing is becoming computerized and extremely skilled that boost production often involves buying more machinery or hiring robotics engineers, rather than trades workers.

“When we see recovery in U.S. manufacturing, it’s the same thing,” Brakel added. “It’s not just as labour-demanding anymore.”

The Canadians who export to US are boosted with the Canadian low dollar, particularly in natural resources, because their payments are in Canadian dollars and their credit in U.S. dollars. This works similarly well for those providing services in the U.S. from Canada.

But overall, he said, it’s a asset for dealers to have a low dollar.

The Canadian economy is having some added stability thanks to active trading partners — the U.S. economy is reserved to grow three per cent this year and Europe is set to grow by 1.5 per cent. But will this be sufficient to offset the bleeding from the natural resources industries?

“That’s not at all clear, said by Brakel.

 

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