Unemployment Rate Hits 30-Year Low But Job Quality Lags, According to CIBC World Markets Report

Share Name	Share Symbol	Market	Type
Brunello Cucinelli SPA	AQEU:BCM	Aquis Europe	Ordinary Share

Share Name

Share Symbol

Market

Type

Brunello Cucinelli SPA

AQEU:BCM

Aquis Europe

Ordinary Share

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	-0.85	-0.92%	91.45	91.15	91.20	93.15	90.45	93.15	14,817	16:50:17

Price Change

% Change

Share Price

Bid Price

Offer Price

High Price

Low Price

Open Price

Shares Traded

Last Trade

-0.85

-0.92%

91.45

91.15

91.20

93.15

90.45

93.15

14,817

16:50:17

Unemployment Rate Hits 30-Year Low But Job Quality Lags, According to CIBC World Markets Report

30/01/2006 3:31pm

PR Newswire (US)

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TORONTO, Jan. 30 /PRNewswire-FirstCall/ -- While the Canadian unemployment rate is at a 30-year low and the pace of job creation shows continued strength, job quality lags, according to the CIBC World Markets Employment Quality Index (CIBCWM EQI) released today. "The Canadian economy is generating jobs at a very rapid pace, but the quality of these jobs is on the decline," said Benjamin Tal, Senior Economist, CIBC World Markets. "The 255,000 new jobs created in 2005 coincided with a 1.4 per cent decline in the CIBCWM EQI." "Even though all the jobs created in Canada in 2005 were full-time jobs, we need to look beyond the part-time versus full-time distribution because not all full-time jobs are created equal - some of them are low-paying and low-stability jobs," added Tal. Since 2003, the number of full-time jobs in low-paying sectors, such as many in the service industry, retail and wholesale trade, has risen by 7.9 per cent, compared to only 4.8 per cent in high-paying sectors, which include manufacturing, primary industries (logging, mining), as well as transportation and electronics. "Granted, a low quality job is better than no job, but the headline employment figures exaggerate the real strength of the Canadian labour market," said Tal. The report notes that a direct consequence of the declining job quality is the relatively slow growth in labour income, which averaged only 0.5 per cent annual real growth per worker since 2002. "Looking ahead to 2006, we expect employment quality to remain low," commented Tal. "With the real estate market poised for a soft landing, the growth in high quality construction jobs will likely lose momentum. At the same time, with the Canadian dollar remaining strong, the number of manufacturing jobs is projected to continue to decline." In order to assess employment quality The CIBCWM EQI combines information on three factors: part-time versus full-time employment; paid-employment versus self-employment; and the relative level of compensation associated with a given full-time paid employment position. A copy of the Canadian Employment Quality Index report is available at http://research.cibcwm.com/res/Eco/EcoResearch.html. CIBC World Markets is the wholesale banking arm of CIBC, providing a range of integrated credit and capital markets products, investment banking, and merchant banking to clients in key financial markets in North America and around the world. We deliver innovative full capital solutions to growth- oriented companies and are active in all capital markets. We offer advisory expertise across a wide range of industries and provide top-ranked research for our corporate, government and institutional investor clients. DATASOURCE: CIBC World Markets CONTACT: Benjamin Tal, Senior Economist, CIBC World Markets at (416) 956-3698, ; or Susan McDougall, Communications and Public Affairs, CIBC at (416) 980-4047

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