“The trends just aren’t that strong,” Mr. Antunes said in an interview. “We’re still looking at soft job creation.”
After a loss of 2,800 jobs in February and losses in two of the final three months of 2011, an increase of the magnitude witnessed in March is unsustainable, the board said.
The board’s projection for 2012 growth in the Canadian economy, at 2.3%, is just a tick lower than the Bank of Canada’s revised target of 2.4%, up from its previous estimate of two per cent.
At that rate of growth, the Ottawa-based think-tank says, employment should grow by 1.2% through 2012, which translates into a total of 212,000 jobs over the year, or 29,000 a month from May onward.
That will only nudge the unemployment rate down to 7.1% by year end from the current 7.2%, the board predicts. In fact, in a separate report Wednesday, it forecast it will take another four years before the unemployment rate falls back to a pre-recessionary six per cent, as job growth has not kept up with the number of people seeking work.
- Job prospects in Canada remain weak, latest help-wanted survey suggests | CanadianBusiness.com (jobmarketmonitor.com)
- Governors flank Obama on job growth pitch – Byron Tau – POLITICO.com (jobmarketmonitor.com)