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Manufacturing and Construction Drag Down Labor Markets in the U.S. and Canada

June 08, 2009 - Alex Carrick
Abstract:

U.S. employment fell by 345,000 jobs in May 2009 on a month-to-month basis. Canada’s total jobs fell by 42,000. These numbers are roughly in line on a proportional population basis (i.e., the usual “ten times” factor for the U.S.  versus Canada).  However, since its most recent employment peak in December 2007, the U.S. has lost a total of 6.0 million jobs. In Canada, the most recent cyclical peak occurred in October of last year, only a short time ago. Since then, the number of jobs lost has been 360,000.

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