Canadian Labour Congress

Canadian Labour Congress

June 10, 2005 09:32 ET

Job Growth: Let's Hope It's a Trend, Georgetti Says

Attention: Business/Financial Editor, News Editor, Government/Political Affairs Editor OTTAWA--(CCNMatthews - June 10, 2005) - "After shedding jobs for four months, the private sector created 58 000 jobs in May: let's hope it's a trend!" says Ken Georgetti, president of the Canadian Labour Congress, commenting on Statistics Canada's Labour Force Survey for the month of May.

"While this news will bring solace to job seekers, an official unemployment rate of 6.8% still means that there are 1.2 million Canadians working women and men who want to work but are still left out by our economy. When will our government focus on their needs and design a long-term job strategy and industrial policy for the country?" Georgetti asks

The unemployment numbers - Statistics Canada's Labour Force Survey reports that in May 2005, last month, the unemployment rate remained at 6.8%, unchanged from the previous month. In May, the number of Canadians who want to work but do not have a job now totals 1,178,100.

Economist Pierre Laliberté's Analysis

• This is an improvement over the past months in that private sector employers are finally starting to pull their weight and have hired across several sectors. So this is no longer a story of people creating their own jobs through self-employment or relying entirely on the public sector for hiring.

• The ongoing stain on this picture remains the manufacturing sector which has lost another 19,000 jobs last month. That sector has lost some 162,000 jobs since the end of 2002, when the Canadian dollar started its rise. The dollar is also probably the source of the ongoing weakness in the accommodation and food services. This picture has regional ramification as both coasts have done well in May while central provinces, Quebec particularly, have done more poorly.

• The job situation of youth is mixed, as more, are employed and more looking for work and not finding it. The fact that private services sectors have started hiring might be the harbinger of a better summer though.

• Again, this month's numbers vindicate the go-slow approach of the Bank of Canada when it comes to raising its interest rates.

The Canadian Labour Congress, the national voice of the labour movement, represents 3 million Canadian workers. The CLC brings together Canada's national and international unions along with the provincial and territorial federations of labour and 137 district labour councils. Web site: www.clc-ctc.ca

Contacts:
Jean Wolff, 613-878-6040
Pierre Laliberté, economist, 819-360-6154
communications@clc-ctc.ca

/For further information: Pierre Laliberté, economist 819-360-6154/ IN: ECONOMY, FINANCE, LABOUR, POLITICS, TRADE

Contact Information

  • Jean Wolff, Director, Communications Department, Canadian Labour Congress
    Primary Phone: 613-878-6040
    Secondary Phone: 613-878-6040
    E-mail: communications@clc-ctc.ca