Friday, February 09, 2007

Economists Stunned By Economic Figures

"Mind Boggling" employment figures for January were above and beyond economists expectations. In fact they were almost nine times higher than the 10,000 new jobs estimated. More to the tune of 89,000 Canadians found work in January alone.

"It is pretty incredible actually," said Carolyn Kwan, a senior financial markets economist at Scotiabank. "The job market has really been performing in a stunning fashion, having put forth upside surprises for five months now."

"Much of the growth was centred in the West, where Statistics Canada said British Columbia and Alberta produced 56,000 new jobs between them."

In British Columbia the jobs were mostly recreational due to favorable snow conditions. Alberta's jobs are full-time.

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