Canadian construction, manufacturing sectors experience growth

North American economies have been recovering gradually through the first few months of 2012, with many industries experiencing the best growth since before the 2008 recession. Seeking Alpha reports that BMO Bank of Montreal released the results of a survey regarding hiring in Canada, which revealed strong prospects for the construction sector.

According to the news provider, the report, titled BMO Hiring Intentions Survey, found that just under half of Canadian businesses expect to boost hiring in 2012. Of those companies, slightly more than half plan to hire more this year than they did last.

"The main drivers in April were the cyclical sectors of construction and manufacturing," Doug Porter, deputy chief economist of BMO Capital Markets, explained to the source. "Transportation, finance, resources and education were also all solid. Most provinces saw gains, led by another comeback month by Quebec and big gains across the three western-most provinces."

According to Statistics Canada, the nation added 58,000 jobs last month, though the unemployment rate still increased 0.1 percent month-over-month to currently stand at 7.3 percent. This, the source notes, marks the fourth consecutive months of gains for Canada.