07-January-2011

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Canadian Unemployment

+ Economy added a net 22,000 jobs in December (38,000 full time positions were added and 16,000 part-time were lost).

+ 66,000 jobs were added in manufacturing.

+ Only 4 provinces added jobs: Quebec, Ontario, Newfoundland, and Nova Scotia

+ With more people being employed, our consumer purchasing power increased by 5.1% in Q4

US Unemployment

+ Non-farm payrolls increased 103,000 in December, vs. 175,000 forecast.

+ Private hiring rose 113,000 while government fell 10,000.

+ NBF’s Stefane Marion “expects a sizeable increase as soon as next month” and full time employment to be up 8 months in a row.

Food Inflation

+ Global food prices recently hit a record high. Since June wheat is up 60% and corn is up 74%.

+ G20 policymakers’ are concerned for social and economic instability, protectionism, and social unrest. “…rising food prices could set back the recovery…”

+ China and Ethiopia have imposed some price controls.

Tidbits

+ Home-ownership rate in Canada presently stands at a record 70.2%.

+ Current yield on the S&P500 is 1.76% vs. an average of 4.29% and a low of 1.11% in August 2000.

+ China is buying 6 billion Euros of Spanish debt.

Chinese Yuan is expected to rise 5-6% vs. US dollar in 2011 according to an advisor from China’s central bank.