October 27, 2011
Carrick: Enthusiasm over employment, earnings numbers eclipsed by European debt, American economy
Statistics Canada reports that average weekly earnings for non-farm employees rose 1.9 per cent year-over-year, and construction earnings were up 2.8 per cent. The jobs picture in Alberta has been good due to Oil Sands projects, but there is a cloud of uncertainty.
The 50 per cent haircut on the Greek sovereign debt has been approved, and consumer confidence in the United States has tanked.
For more information on the latest payroll data from Statistics Canada in the context of U.S. real estate figures and the European debt crisis, please see The overhanging dark cloud of uncertainty is perhaps dispersing by Alex Carrick, chief economist, Reed Construction Data Canada.
In his latest post on the Construction Industry Forecasts blog, Carrick breaks down the Canadian earnings increases by industry, summarizes the latest jobless claims and unsold housing inventory figures in the United States and analyzes the latest Greek bond news in Europe.
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| ALEX’S ECONOMICS BLOG |
Reed Construction Data Canada’s Chief Economist Alex Carrick discusses current developments in the North American economic environment with emphasis on the construction industry.
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