In the past month of September, the Canadian economy has experienced a substantial increase in job availability. A dramatic gain of 52,100 new jobs gave economists a reason to be optimistic about the future Canadian economy. However, even with the increase in jobs, unemployment rate unexpectedly increased by one tenth of a percent to 7.4%. Economists believe that an increase in job availability caused a increase in demand for jobs; thus, increasing the unemployment rate. This sudden prosperity is also being experienced by the U.S with a net increase of 114,00 new jobs. However, there are many pessimists that believe that this good fortune may not be sustained for a long period. The global economy is still feeling the effects caused by the European debt crisis and the slowing Chinese economy.

I believe that the increase in jobs will improve the  Canadian economy by increasing the average income and decreasing the unemployment rate in the long run. Businesses will prosper due to the increase in income of the average consumer and society will benefit as a whole. However, it is still unsure how the consequence of the crisis’s in the global economy will directly affect North America.

http://www.thestar.com/business/article/1267326–unemployment-rises-despite-big-job-gain-statscan