Canada and the United States: two labor markets at odds

The unemployment rate rose in January in Canada and in its separate company while it declined in the United States.
Yet the labor market has improved further on this side of the border while the messengers and blizzards have forced construction workers unemployed and convinced hundreds of thousands of Americans to wait until warmer weather to get back to actively seek work.
It has created 69,200 jobs from coast to coast which in January 3100 in Quebec, said the Labour Force Survey from Statistics Canada, but the cohort of the workforce has grown from 106,400 people, four times more than the increase of population 15 years and over during the month. The participation rate rose from 66.7% to 67.0%. That is why unemployment has risen two-tenths to 7.8% in Canada. "If the participation rate had remained
to 66.7% while the unemployment rate would have fallen to 7.2%, says Sheryl King, chief economist and strategist for Canada at Bank of America - Merrill Lynch. She argues that the acceleration in U.S. growth will boost employment in factories that continued in January, despite a jump record of more than 65,000 hires in December.
In Quebec, the workforce grew by 22,200, which raised the unemployment rate four-tenths to 7.9%. "The rise in unemployment is disappointing, but the increase in the labor force is a sign of vitality for the economy," says Joelle Noreau, senior economist at Desjardins.
Quebec has more than recovered the jobs lost during the recession, but the pace of job creation has slowed considerably. It is below average since 5000 in three months against nearly 26,000 on average in Ontario, who are missing, however, still 5,000 jobs to offset losses from the recession, according to calculations by Sonia Gulati, an economist at TD.
Canadian gains were well distributed, with 31,000 full time jobs and 38 000 part time. The public sector has hired a little more than the private and twenty thousand more people were self reported.
Interestingly, the majority of new jobs have found takers among women. "When you look at job creation in these in 2010, she was a mere 1%, the lowest since 1994, except 2009, observes Marie-Claude Guillotte, economist Values Laurentian Bank Securities. It can be concluded that a catch had to be done. "
With these good numbers, Canada has caught all the jobs lost, but the number of hours worked still lingers as the number of full-time jobs. "Over 50% of total hours worked deficit lies in the 15-24 age group (14.3% of total employment) where jobs are still down 8.4%, calculated Yanick Desnoyers and Matthew Arseneau National Bank.
This reservation, the labor market remains much healthier on this side of the border. In Uncle Sam, the number of employees increased by only 36,000 in January, but the unemployment rate fell four-tenths to 9.0%, the lowest in 21 months, according to data from the Bureau of Labor Statistics (BLS).
The household survey reveals that more than half a million Americans had given up looking for work, out of spite, which because of bad weather.
Optimists are of the opinion that the situation will rebound in February, which could push up the unemployment rate, despite a greater increase in the cohort of employees.
The most pessimistic reiterate that growth is accelerating not generate as many jobs than expected due to structural changes.
The participation rate was 64.2% in January, the lowest since March 1984.
Rare positive note in the table, the number of unemployed for more than 27 weeks from 6.4 to 6.2 million. "This massive on a historical basis and reflects the problem of structural unemployment in the U.S. labor market," says Avery Shenfeld, chief economist at CIBC.
The BLS also announced revisions based on more recent census data. The jobs created in 2010 spent $ 1.12 million to 909,000. The recession has destroyed 8.75 million jobs. That leaves 7.05 million to recover.
The United States has 14.82 million job seekers.