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July 09, 2021

Canada's strong jobs data makes U.S. jealous

Hey, who needs a gold medal hockey game to ramp up some Canadian pride?

954599_canadian_flag Our home – the true, north, strong and free – is no doubt the envy of many nations on earth, but it’s often for things like our plush natural resources, our health care, our compassion.

Now, though? On the heels of a shattered-and-still-rebuilding global economy, Canada can add “national employment” to that list, as well.

Yes, while you no doubt heard of Canada’s positive jobs data revealed today, it may not have reached your ears that people are jealous. Specifically: the U.S.A.

The Huffington Post, one of the U.S.’ more popular news/opinion/gossip sites, published an article this morning titled, “Need A Job? Try Canada, Where Hiring Is Booming And Home Prices Are Rising.”

And the gist of said article is simple – Canada’s recovery is strong. Stronger than the U.S.’

HuffPo author Ryan McCarthy pats Canada on the back in the piece, largely for the aforementioned June jobs data, which is worth a round of applause on its own.

Canada added a “whopping” 93,200 new jobs last month, according to the Star, about 10,000 more new gigs than the States did, despite the obvious population discrepancies.

June’s jobs hike was at a pace about five times the rate predicted by economists, as reported by Bloomberg News.

But if that wasn’t enough, Americans are apparently envious over rising Canadian home prices, too.

Following ten straight monthly gains, home prices north of the 49th rose 0.3 per cent in May, in stark contrast to a housing market in the U.S. that hasn’t eked out much ground since its April, 2009, lows.

According to Royal LePage, Canada’s home prices could keep climbing, at an average rate of almost seven per cent this year alone.

Rising jobs? More valuable homes? An apparently healthier economy than the U.S.? Is that enough for Canada to beat its chest a little going into the weekend? Yeah, I’d say it is.

By Jason Buckland, MSN Money



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Gordon PowersGordon Powers

A long-time fund company executive, Gordon Powers now heads up the Affinity Group, a financial services consulting firm. Gordon was a personal finance columnist for the Globe & Mail for many years, has taught retirement planning...

Jason BucklandJason Buckland

The modern-day MC Hammer of money, Jason can often be seen spending cash that isn’t his with the efficiency of a Wilt Chamberlain first date. After cutting his teeth as a reporter for the Toronto Sun, he joined the MSN Money team with...