It looks like Canadian entrepreneurs are picking up where the big banks and corporations left off! The latest economic indicators issued by Statscan shows 36,000 jobs (net) were created in April 2009! The crazy part -- all of these new positions appear to have been created in the “self-employed” category.
This boost helped to stabilize our unemployment stats, leaving the unemployment rate unchanged at 8 per cent - albeit the highest in almost a decade
This boost helped to stabilize our unemployment stats, leaving the unemployment rate unchanged at 8 per cent - albeit the highest in almost a decade
The Toronto Star further quotes research performed by Toronto Dominion Bank economist Diana Petramala who analyzes the data while cautioning against a wave of premature optimism:
"It's probably safe to say that a large portion of this was likely those who were laid off and forced into self-employment, a trend that was also noticeable during the 1990s recession…”
"We expect the economy to continue to shed jobs over the rest of 2009, but not to the same degree as we saw over the last five months..”
I don't know about you, but it certainly looks like our cup is half-full to me .. this is certainly MUCH better news than our American counterparts received!
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