Canada July jobless rate may edge up-analysts
Aug 8th 2001, 7:18 am
#1
Guest
Posts: n/a
Canada July jobless rate may edge up-analysts By Irene Marushko
OTTAWA, Aug 8 (Reuters) - Canada's jobless rate is likely to come in at 7.0 percent
for July, for the fifth month in a row, or edge up just slightly as the economy sends
further sluggish signals, economists said on Wednesday.
Statistics Canada will release July unemployment figures on Friday. Ecomomists'
estimates for the jobless rate range between 7.0 percent and 7.2 percent.
``It's still representative of fairly sluggish growth,'' said Paul Ferley, assistant
chief economist at Bank of Montreal, predicting a rate of 7.0-7.1 percent.
``The risk is a bit of an uptick (in the rate),'' he said.
The number of people employed fell by 13,000 in June, but Ferley said that figure was
overstated and could correct itself.
Canada's 2001 growth is expected to slow to less than half of last year's 4.7
percent, a direct result of the U.S. economic slowdown, but the economy has emitted
both hopeful and pessimistic signals through this year.
Ferley said some figures were holding up better than expected, including gross
domestic product in May, which rose by 0.3 percent, its strongest showing in seven
months. May manufacturers' shipments also showed a strong gain, and housing starts
remain strong, he said.
John Anania, Royal Bank of Canada deputy chief economist, said more pessimistic
signals were to be found in the Ivey Purchasing Managers' Index, which dropped
sharply to 44.7 in July from 57.0 in June and suggested a swift rebound may not be in
the cards for the economy.
The Help-Wanted index, which measures company intentions to hire workers, fell by 3.7
percent to 155 in July from 161 in June, continuing a downward trend in place since
last November.
Anania said there would be a drop of 5,000 jobs, for a jobless rate of
7. percent in July.
``We've expected Canada to lag the U.S. in the manufacturing correction. We're seeing
that right now,'' he said.
Statscan, in its July quarterly survey of industries, said manufacturers expected
already-low output to be flat in the current quarter but added companies were
slightly more positive about the near term, compared with surveys taken in April
and January.
But consumer confidence has remained high, sustaining the economy together with a
series of Bank of Canada interest rate cuts implemented since the start of this year.
Falco van Tartwijk, Canadian analyst at Amsterdam's Fortis Bank, said there was a
chance the unemployment rate could move up to 7.2 percent but that the overall
economy was showing resilience.
``Recent figures in Canada have been better than expected, given what's happening in
the U.S.,'' he said. ``If it goes up at all, it will not go up fast or a lot.''
OTTAWA, Aug 8 (Reuters) - Canada's jobless rate is likely to come in at 7.0 percent
for July, for the fifth month in a row, or edge up just slightly as the economy sends
further sluggish signals, economists said on Wednesday.
Statistics Canada will release July unemployment figures on Friday. Ecomomists'
estimates for the jobless rate range between 7.0 percent and 7.2 percent.
``It's still representative of fairly sluggish growth,'' said Paul Ferley, assistant
chief economist at Bank of Montreal, predicting a rate of 7.0-7.1 percent.
``The risk is a bit of an uptick (in the rate),'' he said.
The number of people employed fell by 13,000 in June, but Ferley said that figure was
overstated and could correct itself.
Canada's 2001 growth is expected to slow to less than half of last year's 4.7
percent, a direct result of the U.S. economic slowdown, but the economy has emitted
both hopeful and pessimistic signals through this year.
Ferley said some figures were holding up better than expected, including gross
domestic product in May, which rose by 0.3 percent, its strongest showing in seven
months. May manufacturers' shipments also showed a strong gain, and housing starts
remain strong, he said.
John Anania, Royal Bank of Canada deputy chief economist, said more pessimistic
signals were to be found in the Ivey Purchasing Managers' Index, which dropped
sharply to 44.7 in July from 57.0 in June and suggested a swift rebound may not be in
the cards for the economy.
The Help-Wanted index, which measures company intentions to hire workers, fell by 3.7
percent to 155 in July from 161 in June, continuing a downward trend in place since
last November.
Anania said there would be a drop of 5,000 jobs, for a jobless rate of
7. percent in July.
``We've expected Canada to lag the U.S. in the manufacturing correction. We're seeing
that right now,'' he said.
Statscan, in its July quarterly survey of industries, said manufacturers expected
already-low output to be flat in the current quarter but added companies were
slightly more positive about the near term, compared with surveys taken in April
and January.
But consumer confidence has remained high, sustaining the economy together with a
series of Bank of Canada interest rate cuts implemented since the start of this year.
Falco van Tartwijk, Canadian analyst at Amsterdam's Fortis Bank, said there was a
chance the unemployment rate could move up to 7.2 percent but that the overall
economy was showing resilience.
``Recent figures in Canada have been better than expected, given what's happening in
the U.S.,'' he said. ``If it goes up at all, it will not go up fast or a lot.''
Aug 8th 2001, 2:09 pm
#2
Guest
Posts: n/a
Is it me or everyone feels that the unemployment rate of canada a lot higher than 7%.
May be around 12%. It is just my conclusion after observation a lot of unemployed
immigrants and citizens across Canada.
How does the goverment calculate unemployment rate. Do they account for recent
immigrants who are searching for a job? If it doesn't, I think it sends out a wrong
message to those who are considering to immigrate to canada.
[email protected] (John p)
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May be around 12%. It is just my conclusion after observation a lot of unemployed
immigrants and citizens across Canada.
How does the goverment calculate unemployment rate. Do they account for recent
immigrants who are searching for a job? If it doesn't, I think it sends out a wrong
message to those who are considering to immigrate to canada.
[email protected] (John p)
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Aug 9th 2001, 10:22 pm
#3
Guest
Posts: n/a
visit
http://www.statcan.ca/english/Subjec...LFS/lfs-en.htm
it's quite detailed and informative
BD
"Just Me" <[email protected]>
[usenetquote2]> > Canada July jobless rate may edge up-analysts By Irene Marushko[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > OTTAWA, Aug 8 (Reuters) - Canada's jobless rate is likely to come in at 7.0[/usenetquote2]
[usenetquote2]> > percent for July, for the fifth month in a row, or edge up just slightly as the[/usenetquote2]
[usenetquote2]> > economy sends further sluggish signals, economists said on Wednesday.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > Statistics Canada will release July unemployment figures on Friday. Ecomomists'[/usenetquote2]
[usenetquote2]> > estimates for the jobless rate range between 7.0 percent and 7.2 percent.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > ``It's still representative of fairly sluggish growth,'' said Paul Ferley,[/usenetquote2]
[usenetquote2]> > assistant chief economist at Bank of Montreal, predicting a rate of 7.0-7.1[/usenetquote2]
[usenetquote2]> > percent.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > ``The risk is a bit of an uptick (in the rate),'' he said.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > The number of people employed fell by 13,000 in June, but Ferley said that figure[/usenetquote2]
[usenetquote2]> > was overstated and could correct itself.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > Canada's 2001 growth is expected to slow to less than half of last year's 4.7[/usenetquote2]
[usenetquote2]> > percent, a direct result of the U.S. economic slowdown, but the economy has[/usenetquote2]
[usenetquote2]> > emitted both hopeful and pessimistic signals through this year.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > Ferley said some figures were holding up better than expected, including gross[/usenetquote2]
[usenetquote2]> > domestic product in May, which rose by 0.3 percent, its strongest showing in[/usenetquote2]
[usenetquote2]> > seven months. May manufacturers' shipments also showed a strong gain, and housing[/usenetquote2]
[usenetquote2]> > starts remain strong, he said.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > John Anania, Royal Bank of Canada deputy chief economist, said more pessimistic[/usenetquote2]
[usenetquote2]> > signals were to be found in the Ivey Purchasing Managers' Index, which dropped[/usenetquote2]
[usenetquote2]> > sharply to 44.7 in July from 57.0 in June and suggested a swift rebound may not[/usenetquote2]
[usenetquote2]> > be in the cards for the economy.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > The Help-Wanted index, which measures company intentions to hire workers, fell by[/usenetquote2]
[usenetquote2]> > 3.7 percent to 155 in July from 161 in June, continuing a downward trend in place[/usenetquote2]
[usenetquote2]> > since last November.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > Anania said there would be a drop of 5,000 jobs, for a jobless rate of[/usenetquote2]
[usenetquote2]> > 7. percent in July.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > ``We've expected Canada to lag the U.S. in the manufacturing correction. We're[/usenetquote2]
[usenetquote2]> > seeing that right now,'' he said.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > Statscan, in its July quarterly survey of industries, said manufacturers expected[/usenetquote2]
[usenetquote2]> > already-low output to be flat in the current quarter but added companies were[/usenetquote2]
[usenetquote2]> > slightly more positive about the near term, compared with surveys taken in April[/usenetquote2]
[usenetquote2]> > and January.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > But consumer confidence has remained high, sustaining the economy together with[/usenetquote2]
[usenetquote2]> > a series of Bank of Canada interest rate cuts implemented since the start of[/usenetquote2]
[usenetquote2]> > this year.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > Falco van Tartwijk, Canadian analyst at Amsterdam's Fortis Bank, said there was a[/usenetquote2]
[usenetquote2]> > chance the unemployment rate could move up to 7.2 percent but that the overall[/usenetquote2]
[usenetquote2]> > economy was showing resilience.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > ``Recent figures in Canada have been better than expected, given what's happening[/usenetquote2]
[usenetquote2]> > in the U.S.,'' he said. ``If it goes up at all, it will not go up fast or a[/usenetquote2]
[usenetquote2]> > lot.''[/usenetquote2]
http://www.statcan.ca/english/Subjec...LFS/lfs-en.htm
it's quite detailed and informative
BD
"Just Me" <[email protected]>
[usenetquote2]> > Canada July jobless rate may edge up-analysts By Irene Marushko[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > OTTAWA, Aug 8 (Reuters) - Canada's jobless rate is likely to come in at 7.0[/usenetquote2]
[usenetquote2]> > percent for July, for the fifth month in a row, or edge up just slightly as the[/usenetquote2]
[usenetquote2]> > economy sends further sluggish signals, economists said on Wednesday.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > Statistics Canada will release July unemployment figures on Friday. Ecomomists'[/usenetquote2]
[usenetquote2]> > estimates for the jobless rate range between 7.0 percent and 7.2 percent.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > ``It's still representative of fairly sluggish growth,'' said Paul Ferley,[/usenetquote2]
[usenetquote2]> > assistant chief economist at Bank of Montreal, predicting a rate of 7.0-7.1[/usenetquote2]
[usenetquote2]> > percent.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > ``The risk is a bit of an uptick (in the rate),'' he said.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > The number of people employed fell by 13,000 in June, but Ferley said that figure[/usenetquote2]
[usenetquote2]> > was overstated and could correct itself.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > Canada's 2001 growth is expected to slow to less than half of last year's 4.7[/usenetquote2]
[usenetquote2]> > percent, a direct result of the U.S. economic slowdown, but the economy has[/usenetquote2]
[usenetquote2]> > emitted both hopeful and pessimistic signals through this year.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > Ferley said some figures were holding up better than expected, including gross[/usenetquote2]
[usenetquote2]> > domestic product in May, which rose by 0.3 percent, its strongest showing in[/usenetquote2]
[usenetquote2]> > seven months. May manufacturers' shipments also showed a strong gain, and housing[/usenetquote2]
[usenetquote2]> > starts remain strong, he said.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > John Anania, Royal Bank of Canada deputy chief economist, said more pessimistic[/usenetquote2]
[usenetquote2]> > signals were to be found in the Ivey Purchasing Managers' Index, which dropped[/usenetquote2]
[usenetquote2]> > sharply to 44.7 in July from 57.0 in June and suggested a swift rebound may not[/usenetquote2]
[usenetquote2]> > be in the cards for the economy.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > The Help-Wanted index, which measures company intentions to hire workers, fell by[/usenetquote2]
[usenetquote2]> > 3.7 percent to 155 in July from 161 in June, continuing a downward trend in place[/usenetquote2]
[usenetquote2]> > since last November.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > Anania said there would be a drop of 5,000 jobs, for a jobless rate of[/usenetquote2]
[usenetquote2]> > 7. percent in July.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > ``We've expected Canada to lag the U.S. in the manufacturing correction. We're[/usenetquote2]
[usenetquote2]> > seeing that right now,'' he said.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > Statscan, in its July quarterly survey of industries, said manufacturers expected[/usenetquote2]
[usenetquote2]> > already-low output to be flat in the current quarter but added companies were[/usenetquote2]
[usenetquote2]> > slightly more positive about the near term, compared with surveys taken in April[/usenetquote2]
[usenetquote2]> > and January.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > But consumer confidence has remained high, sustaining the economy together with[/usenetquote2]
[usenetquote2]> > a series of Bank of Canada interest rate cuts implemented since the start of[/usenetquote2]
[usenetquote2]> > this year.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > Falco van Tartwijk, Canadian analyst at Amsterdam's Fortis Bank, said there was a[/usenetquote2]
[usenetquote2]> > chance the unemployment rate could move up to 7.2 percent but that the overall[/usenetquote2]
[usenetquote2]> > economy was showing resilience.[/usenetquote2]
[usenetquote2]> >[/usenetquote2]
[usenetquote2]> > ``Recent figures in Canada have been better than expected, given what's happening[/usenetquote2]
[usenetquote2]> > in the U.S.,'' he said. ``If it goes up at all, it will not go up fast or a[/usenetquote2]
[usenetquote2]> > lot.''[/usenetquote2]
Aug 13th 2001, 5:08 pm
#5
Guest
Posts: n/a
Is it me or everyone feels that the unemployment rate of canada a lot
>
>
Many countries don't count people who have stopped looking for work. Canada, the US,
the UK, the Netherlands. The Dutch unemployment rate went from under 10% to 7% after
they stopped counting those not looking for work. It's now officially 6% and an
article popped up in Friday's New York Times about the Netherlands' labour shortage:
http://nytimes.com/2001/08/09/busine...ss/09DUTC.html
--
Gary L. Dare [email protected]
"Je me souviens"
>
>
Many countries don't count people who have stopped looking for work. Canada, the US,
the UK, the Netherlands. The Dutch unemployment rate went from under 10% to 7% after
they stopped counting those not looking for work. It's now officially 6% and an
article popped up in Friday's New York Times about the Netherlands' labour shortage:
http://nytimes.com/2001/08/09/busine...ss/09DUTC.html
--
Gary L. Dare [email protected]
"Je me souviens"
