Canada creates 52,000 full-time jobs, unemployment rate up to 7.4 percent

Comparing the jobs figures of the United States, which created 114,000 jobs, mostly part-ime, and that of Canada's with one tenth of the population of 52,000 full time jobs, leaves one puzzling about the math.

Canada created 52,000 jobs of which was five times of those expected by economists and according to Statistic Canada has now restored jobs to pre-recession levels, the unemployment rate edged up 1 percent.

On the other hand, with a population of ten times that of Canada, the U.S. created 114,000 jobs and it dipped the unemployment rate to 7.8 percent. Logical minds would say that something is not right in the Kingdom of Denmark. The majority of U.S. jobs were part-time jobs. The U.S. also doesn't count those that gave up looking for work.

The U.S. has added 325,000 net jobs since the beginning in 2009 and is far from the pre recession numbers. Many of the jobs added in August are part time jobs and the Labor Department says that 8.6 million of those unemployed want full time jobs.

The employment prospects for youth, black and hispanics are not very encouraging, with unemployment rates for teenagers at 23.7 percent, blacks 13.4 percent and hispanics 9.9 percent.

The Labor Department has constantly revised its previous figures and this is true for their July and August figures, which were revised to to reflect the U.S. economy adding 146,000 jobs per month from July through September.

On the outside this would appear to be a positive sign and support President Obama's argument that the economy is recovering.

Unfortunately it's not the whole picture. Too many Americans have left the work force, while others are looking for full time employment.

The spin artists on both sides of the aisle will be sure to point out that their argument is the only valid one.

Labour Department Jobs Report

Statistics Canada September Labour Survey