Canada has been labeled one of the most stable countries in the world right now as compared to the U.S and Europe. Canada with its stable banking system and previously financially conservative citizens have avoided many hardships that other countries are experiencing.
However, Canada is more likely on a delayed time-frame than the U.S and will experience difficulties in the coming years as it cannot avoid the effects of a global slowdown. A ballooning consumer debt problem is arising with hot housing market cooling and citizens using more credit than ever.
The last thing Canada needs is an unemployment problem and jobs do not look well with the latest job numbers.
http://business.financialpost.com/2012/08/10/canada-surprises-with-big-job-losses-in-july/
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