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Canadian jobs picture to remain ugly everywhere east of Manitoba: TD

Labour markets bleak in central, eastern Canada

Canada’s jobs market may have rebounded faster than those of other countries, but unemployment still looks ugly everywhere east of Manitoba.

In a new report on Canada’s provinces today, Toronto-Dominion Bank forecasts that unemployment levels will remain above 7 per cent in central and Atlantic Canada until at least through 2015. And in some provinces, far above that mark.

Here’s what economists Derek Burleton and Jonathan Bendiner project: Jobless rates of 6.3 per cent and 6.1 per cent this year and next, respectively, in British Columbia, 4.4 per cent and 4.2 per cent in Alberta, 4.2 per cent and 4.1 per cent in Saskatchewan, and 5.4 per cent and 5.1 per cent in Manitoba.

The outlook is far bleaker heading east from there: 7.4 per cent and 7.1 per cent in Ontario, 7.6 per cent and 7.4 per cent in Quebec, 10 per cent and 9.6 per cent in New Brunswick, 8.8 per cent and 8.5 per cent in Nova Scotia, 11.6 per cent and 11.3 per cent in Prince Edward Island, and 11.9 per cent and 11.6 per cent in Newfoundland and Labrador.

http://www.theglobeandmail.com/report-on-business/top-business-stories/unemployment-to-remain-ugly-everywhere-east-of-manitoba/article19504141/