The Globe and Mail reports in its Saturday, Jan. 7, edition that Canada's economy ended the year with a bang.
The Globe's Rachelle Younglai writes that employers created a surprising 54,000 net new jobs in December, bucking expectations for a small loss.
Canadian Imperial Bank of Commerce economist Avery Shenfeld says: "A stunner. There were jobs, jobs everywhere, and this time, they were offering a full day's work."
The economy added 81,000 full-time positions and eliminated 27,000 part-time spots, reversing months of full-time declines and part-time increases.
A jump in exports pushed Canada to a $526-million trade surplus in November after the previous month's $1-billion deficit.
It marked the first surplus since September, 2014. The trade surplus with Canada's biggest trading partner -- the United States -- widened to $4.2-billion from $3.2-billion in the previous month.
The two positive economic reports come after a disappointing October, when gross domestic product shrank unexpectedly.
Bank of Montreal economist Douglas Porter says: "The GDP report was a bit of a shocker to the low side. But this pair of reports suggests that, no, in fact it looks like the economy may have expanded."
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