XPost: can.general, can.politics, soc.culture.canada   
   From: abc@123.cl   
      
   Job numbers proof no election needed: Flaherty   
      
      
   September 4, 2009   
      
      
   'What we see now is certainly evidence of stabilization,' Finance   
   Minister Jim Flaherty told reporters in London, England, ahead of a   
   meeting with G20 finance ministers. 'The unemployment number today is   
   relatively stable.'   
      
      
   OTTAWA — Canada's economy created more than 27,000 jobs in August,   
   surprising forecasters who thought thousands would be lost.   
      
   Federal Conservatives believe the numbers weaken the case opposition   
   politicians have been making for a fall election.   
      
   By contrast, the U.S. employment picture continues to worsen as more   
   than 216,000 jobs were lost there last month.   
      
   "While we can quibble about the details, the broader picture here is   
   that the labour market is stabilizing, and apparently much faster than   
   in the U.S.," said Douglas Porter, deputy chief economist at BMO   
   Capital Markets.   
      
   Those two bits of data could help Conservatives make the point that the   
   Canadian economy, under their stewardship, has outperformed its G8   
   peers through this recession.   
      
   "What we see now is certainly evidence of stabilization," Finance   
   Minister Jim Flaherty told reporters in London, England, ahead of a   
   meeting with G20 finance ministers.   
      
   "The unemployment number today is relatively stable," he said.   
      
   "But you know, the unemployment rate in Canada right now is 8.7 per   
   cent. (Though) that's the highest unemployment rate in 10 years, it's   
   about a full percentage point lower than the unemployment rate in the   
   United States, which is unusual in terms of our trading relationship   
   with the United States. That hasn't happened, I believe, in about a   
   generation," Flaherty added.   
      
   "We have created a very large economic recovery plan. It is working,"   
   Flaherty continued.   
      
   "But I say that in the present tense. And it needs to continue to work   
   to ensure that we don't slide back into recession. So this is a time,   
   it seems to me, where Canadians expect us to focus on the economy. What   
   the government should be doing is focusing on that, it seems to me, and   
   not on having an annual federal election in Canada."   
      
   Liberals said that despite the mild improvement in the monthly job   
   numbers, there are still more than 400,000 Canadians who had a job when   
   ballots were cast last October that do not have a job now.   
      
   "I think the economy is still struggling," Liberal Leader Michael   
   Ignatieff told reporters in Vancouver. "A million and a half Canadians   
   are looking for work. Bankruptcies are up. And we're staggering along   
   with a $50 billion deficit. Our view is that this just isn't good   
   enough and we can do better."   
      
   The national unemployment rate in August edged up to 8.8 per cent from   
   8.7 per cent in July, the result of more people coming into the   
   workforce. The unemployment rate among students and young people hit   
   16.4 per cent in August, an all-time high.   
      
   Still, improving job numbers have positive implications for the federal   
   treasury.   
      
   The most recent deficit forecast from the Department of Finance for   
   this year is just over $50 billion.   
      
   But if more Canadians are working and paying taxes — and fewer are   
   drawing on unemployment insurance — then the deficit could be lower.   
   Flaherty said he is considering issuing an update of that deficit   
   forecast later this month.   
      
   Forecasting firm Global Insight, one of a group of private-sector   
   forecasters on which the government relies, said Friday that the   
   deficit should be smaller than $50 billion this year, though it will be   
   significantly larger than Flaherty's original forecast next year. The   
   government believes the deficit next year will $29.8 billion. Global   
   Foresight now predicts it will be $39 billion.   
      
   All of August's gains came as a result of new part-time jobs, normally   
   a sign of a weak labour market. The economy lost about 3,000 full-time   
   jobs last month but managed to add 30,600 part-time jobs.   
      
   "It's all part-time work. It's just people trying to survive," said NDP   
   MP Yvon Godin.   
      
   Forecasters, though, had not expected any kind of increases in job   
   numbers until the new year.   
      
   "Half a loaf, or in this case, half a job, is better than none, so an   
   increase in Canadian employment driven by part-time work is still an   
   encouraging signpost of an economic recovery now underway," said CIBC   
   World Markets chief economist Avery Shenfeld.   
      
   Economists also noted it was an encouraging sign that the job gains   
   came from the private sector, the first time in 10 months that   
   employers increased the number of people on their payrolls.   
      
   Economists said that August's job numbers help shore up a growing   
   consensus among forecasters that the gross domestic product — the sum   
   of all economic activity in the country — will be positive this   
   quarter, which ends on Sept. 30. That positive change in economic   
   activity is likely to be another point Conservative politicians will   
   feature in speeches this fall.   
      
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