Tradelines News

Get the latest news and updates on cross-border customs and international trade.

“Unluckiest. Recovery. Ever”: U.S. Beats Canada on Jobs by Biggest Margin in 21 Years

Posted June 02, 2015

Under Economic Issues, International Trade Issues

(Daniel Tencer – Huffington Post Canada)

It wasn’t that long ago that Canadians were congratulating themselves, however quietly, on weathering the Great Recession better than most developed nations — and especially better than the U.S., where a prolonged job crisis took hold in the wake of the 2008 financial collapse.

But fast forward to 2015 and the great oil price crash, and the tables have turned — so much so that Canada’s job market is now underperforming the U.S.’s by margins not seen in decades.

In a report issued Friday, Bank of Montreal chief economist Doug Porter noted that jobs in Canada are up a tepid 0.8 per cent to 1 per cent over the past year, with the country logging job losses in eight of the last 17 months. Click here to read more.