Jobs, Jobs, Jobs – Canada 58,000 jobs added in April (forecast was 20,000). Employment/population ratio is at 61.9%, a 27-month high. Full time jobs were up 108,000 over 2-months, best showing since Oct 2009. Ontario has more than fully recouped the jobs lost during the recession by adding 55,000 jobs in April. Jobless rate at 7.6% in April, a 5-month low. Edmonton at 5.7%, Calgary 5.9%, and Toronto at 8.5%. Private sector increased by 36,000, the best since Dec 2010. Jobs, Jobs, Jobs – US Nonfarm payrolls rose 244,000, expectation was only 186,000 for April. The government shed 24,000 jobs in April, this is the sixth consecutive month of job cuts in the public sector. Unemployment rate increased to 9% in April, from the 2-year low of 8.8%, due to a moderate rise in the size of the labour force. 8 million jobs were lost in the 2007-2009 recession – job growth of 250,000 – 300,000 each month is needed to reduce unemployment. Chinese Leadership Transition (source: Fidelity Boston) Chinese are looking for a smooth transition in 2012, with no surprises or blow-ups, no public discontent, etc. “China is seriously tightening” view is exaggerated. Current leadership is viewed as being somewhat “mild”. There is a possibility that President-to-be Xi might be more assertive once in power. Overall, the Chinese philosophy is all about continuity. « Previous post Next post »
