US ECONOMY CREATES JOBS; CANADA LOSES

Jan 09, 2015

By Scott Walker

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For the second month in a row, the Canadian economy posted disappointing employment numbers.

Statistics Canada says the country lost 4,300 net jobs last month. That follows a loss of 10,000 in November.

Economists had predicted 15,000 jobs would be created last month.

But the unemployment rate remained steady at 6.6 per cent. Toronto’s rate held at 7.8 per cent and Ontario’s rate stayed at 7.0.

Much better news south of the border. The United States capped off its best year for hiring in 15 years with a gain of a quarter of a million jobs. That pushed the unemployment rate down to a six-year low of 5.6 per cent.

The news wasn’t all good. Average hourly pay slipped five cents in the US. And analysts say the unemployment rate fell because more people stopped looking for work.

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