PrefBlog

Does anybody know what has happened to the Perimeter Financial website at www.pfin.ca? It’s been down for three days now and I have been unable to find any information about it … or to have various eMails returned …

Jobs, jobs, jobs!

The American economy’s stamina was showcased Friday as the government reported that wages in August sprinted forward at their fastest pace since the recession ended and that the job creation streak extended to 95 months.
…
Employers fattened payrolls by 201,000 jobs; the jobless rate remained under 4 percent, near territory not seen since the 1960s; and average hourly earnings rose by 10 cents, up 2.9 percent from a year earlier.

The manufacturing sector, however, which Mr. Trump has made a centerpiece of his economic and trade policies, registered fewer gains than had been previously thought. The combined addition of 93,000 jobs that the government originally reported for May, June and July was revised down to 62,000. And in August, the sector shed 3,000 jobs. The auto industry, which is particularly exposed to trade, eliminated 4,900 jobs last month after cutting 3,500 in July.

In Canada, not so much:

Canada’s seesawing employment report posted particularly volatile numbers last month that showed big, mid-summer gains had essentially been wiped out by August.

The economy lost 51,600 net jobs last month in a decrease that helped drive the national unemployment rate to six per cent, up from 5.8 per cent in July, Statistics Canada reported Friday in its monthly labour force survey.

Last month’s drop, fuelled by the loss of 92,000 part-time positions, largely eliminated July’s healthy net increase of 54,100 positions.

However, August also featured a notable bright spot: full-time jobs rose by 40,400.
…
Ontario lost 80,100 jobs last month after gaining 60,600 in July — with both data points almost entirely driven by swings in part time work.
…
The report showed that average hourly wage growth, which is closely watched by the Bank of Canada ahead of rate decisions, continued its gradual slide last month to 2.9 per cent after expanding 3.2 per cent in July and 3.6 per cent in June.

This entry was posted on Friday, September 7th, 2018 at 8:43 pm and is filed under Market Action. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.