Since the recession began in October 2008, only 179,000 jobs have been created. (In recent months 37,000 jobs have actually disappeared) 541,000 workers who have exited Canada's work force since the recession began. Roughly 700,000 seniors would suffer reduced incomes. The number of seniors below the poverty line would increase from 50,000 to 220,000- representing a more than doubling of Canada's poverty rate. Thirdly, past cuts to Canada's Employment Insurance (EI) program mean that only 39% of the officially unemployed are eligible to receive benefits. Another 860,140 unemployed people are barred from EI benefits and have to rely on provincial welfare or their families.

Capital Economics, which has one of the most bearish outlooks on the Canadian economy, noted the strong jobs growth was in stark contrast to the other recent economy data. The federal agency said the national unemployment rate slipped by one-tenth of a percentage point to 7.1 per cent, its lowest level since December 2008 The recent strength of employment growth will probably convince the Bank of Canada to stick with its existing position that interest rates will eventually need to rise at this month's policy meeting

Some 6.4 per cent of Canada's total workforce-1.2 million people-now consists of part-time workers under 30 who wish they could work full time. university-educated Canadians experienced a relative increase in unemployment between 1997 and 2005 and a corresponding dip in relative wages, according to a federal government study. By contrast, those with a college, or even a high school education, managed to improve (or at least maintain) their outlook, relative to other workers. In fact, the only group that experienced a similar relative increase in unemployment during the period were those Canadians without even a high school diploma. Employers increasingly expect workers to pay for their own retirements. That's not easy when you don't have money. A survey by the Bank of Montreal found that only about 10 per cent of Canadians aged 18 to 34 had given any thought to retirement planning. Job security is also increasingly scarce. Stung by the 2009 recession, employers in industries ranging from retail sales to information technology are preoccupied with building a flexible workforce In an effort to close the gap, the federal government is planning to bring in as many as 3,000 foreign skilled workers this year by De-emphasizing the university-educated and focusing instead on welders and electricians. Economists say the market will eventually sort itself out. Wages and benefits in the trades should become more attractive as desperate employers try to woo new workers.

In contrast to the financial woes of many countries, the Canadian economy has seen growth in a number of sectors, with thousands of jobs added in recent months. Immigration to Canada is expected to play a key part in expanding the country's population and financial wealth for years to come. Canada's upward trend of economic growth and job creation are good news for those looking to live and work in the country. Certain fields are in particular need of employees. At present, the most notable labour market shortages can be found in the realms of construction and natural resource management.

The Canadian economy created 40,000 jobs in December -- all of it in full-time work -- and drove the unemployment rate to its lowest in four years, Statistics Canada said Friday. The federal agency said the national unemployment rate slipped by one-tenth of a percentage point to 7.1 per cent, its lowest level since December 2008 Statistics Canada reported last month that the economy grew just 0.1 per cent in October after a flat reading in September and a 0.1 per cent contraction in August. Compared with a year earlier, Statistics Canada said there were 312,000 more jobs, all in full-time work.

Funding costs rose dramatically during the financial crisis when liquidity dried up, pushing up the costs of consumer and business loans Finance Minister Jim Flaherty tightened the rules on mortgages for a fourth time in four years, saying the government would no longer insure mortgages that are amortized over a period longer than 25 years "Neighbourhoods with more bank branches and payday lenders per capita (i.e. more competition) have looser lending standards (higher leveraged households) and experience greater bankruptcies"

Canadian spending rose by 3.45 per cent during the fourth quarter of 2012 October 2012 experienced the strongest growth, with a 4.93 per cent increase in spending, Boxing Week spending was up 5.35 per cent, compared to 2011

For every dollar of after-tax income Canadians bring home, they're borrowing more than $1.64. Statistics Canada said that between July and September of this year, households borrowed $27.3 billion Consumer credit levels increased by $7 billion to $474 billion.

For every dollar of after-tax income Canadians bring home, they're borrowing more than $1.64. Statistics Canada said that between July and September of this year, households borrowed $27.3 billion Consumer credit levels increased by $7 billion to $474 billion.

Pay down the debt with the biggest interest rate first

In 2011, 77,993 consumers filed for bankruptcy

Canadian debt loads grew at their fastest pace in two years during the summer

Non-mortgage debt jumped 4.6 per cent

Household market debt has risen to 163% of disposable income

- The price of commodities has been going up and down the past week as negotiations over the U.S budget continues. - Oil rose while natural gas fell. Silver rose 2%, gold raised $10.70, copper gained 6.8 cents, palladium ended up at $12.25 and platinum gained $7.80 - Investors are hoping a new budget is agreed upon so that tax doesn't increase - There is a possibility that the economist believe that U.S could be pushed back into recession if a budget is not agreed upon. - During the second quarter, the economy grew at a faster rate than initially thought by the commerce department. - More Americans starting buying homes due to the job gains and low mortgage rates. The National Association of Realtors said an index measuring pending contracts to buy homes jumped last month.

do you think that the new budget will make a difference in the commodities prices ?

- In the past 5 years, consumer debt has increased by 53% - The most borrowing occurring in the two years right after the global financial crisis. - Canada's household debt to income ration jumped to 163.4% - Canada's debt-to-income ratio has now reached a record high, topping levels seen in the U.S - Currently, the Canadian housing market is in a state of decline, with home sales dropping 15 per cent in September.

#2 what is causing the debt ratio to increase drastically ?