Ask500

Euroindicators 30.10.2009 Euro area unemployment up to 9.7% --- I guess us Europeans are wishing for a depression as well --

Canada is headed for a major depression as well - this is not an unique US experience.

Canadian unemployment rises to 8.6 percent

(AFP) – 23 hours ago

OTTAWA — The Canadian unemployment rate rose to 8.6 percent in October, the first rise in two months, as the economy shed 43,000 part-time jobs, official data showed Friday.

Statistics Canada said the rise in the jobless rate from 8.4 percent in September resulted from job losses that were "all in part time."

The data was worse than the 8.5 percent jobless rate most analysts had anticipated.

And the job losses were unexpected. Analysts had projected that the economy had created 10,000 jobs last month, after the creation of 31,000 jobs in September.

The rising unemployment rate comes as Canada struggles to emerge from recession amid the global economic crisis.

Since an employment peak in October 2008, the number of employees in the private sector has fallen by 4.1 percent, a faster rate of decline than the 1.6 percent drop in the public sector, the national data agency said.

Almost 13 per cent of Canadian households met one or more of the three measures, a percentage that represented almost no change since 2001.

Almost four million Canadians, among them 750,000 children under the age of 15, fell into the category of living in "core housing need." This means their accommodation is in the state of disrepair, is unsuitable for the number of people living there or eats up more than 30 per cent of the household's pre-tax income.