Statistics Canada reported this morning that employment in Canada increased by 43,000 jobs in January, considerably better than market expectations of a 15,000 job increase. This job increase helped lower the unemployment rate from 8.4% to 8.3%.Today’s numbers confirm that Canada’s Economic Action Plan is working. January marks the fourth month of job gains in the past six months.
This is on top of three consecutive months of economic growth in Canada, and the IMF predicting Canada’s economy will be at the head of the G7 pack in 2010 and 2011.
While Canada is weathering current global economic challenges better than nearly every other industrialized country, our recovery remains fragile.
The Prime Minister has repeatedly said that our government won’t be satisfied until those Canadians who have lost jobs are working again.
As we enter Phase II of Canada’s Economic Action Plan, our priority will be threefold: rolling out the remaining stimulus projects across the country; planning for deficit reduction once the economy has recovered; and building a strong foundation for job creation and economic growth.
