Yes job demand for pilots in Canada is good ... today...! But give the economy a chance to cool down and in about 2 or 3 yrs in typical Canadian style there will be 20 or 30 pilots for every available job. You have to look at how long it is going to take you to get through your training and try to forcast where the job market will be when you have your commercial licence. The Canadain licence is a well respected licence around the world ... but if you have the option and the legal rights to work in Europe then I would look seriously at getting your JAA first then converting it to a Canadian licence. The JAA would alow you alot more opportunities. I believe you can train for your JAA in Canada at the Moncton flight school.
Just my 2 cents for what its worth.
You will also be flying something much more "advanced" in Europe with 1000hrs total time than you will be in Canada.