Canada’s economy added a higher-than-expected 59,300 jobs in November, with the bulk of hiring coming in full-time positions and in the private sector, according to Statistics Canada data released on Friday.
The unemployment rate fell 0.2 percentage points to 7.2 percent in November. All new jobs in the month were in the services-producing sector.
Here’s what the economists say:
DOUG PORTER, DEPUTY CHIEF ECONOMIST, BMO CAPITAL MARKETS:
Our neighbor to the North also suffered from an unexpectedly weak jobs report today, the worst monthly job losses in more than four years.
Canada shed 54,500 positions in March, more than wiping out the 50,700 jobs that were added in February, Statistics Canada said on Friday. Market operators had expected a modest gain of 8,500 jobs.
OTTAWA — We already know Canada’s economy ended last year in dismal shape. While no one is predicting a healthy turnaround this year, you may soon see some stronger vital signs.
In a week of clustered economic data — from interest rates to employment numbers — a major Canadian bank says, “based on admittedly slim evidence,” the first quarter of 2013 could bring surprising — though not great — growth.
TORONTO (Reuters) - The Canadian dollar was slightly weaker against its U.S. counterpart on Friday ahead of key employment reports from both countries. At 7:49 a.m. (1149 GMT) the Canadian dollar was trading at C$0.9980 to the greenback, or $1.0020, compared with C$0.9968, or $1.0032, at Thursday's North American close. U.S. job growth likely picked up in October, but not enough to prevent the unemployment rate from rising off a near four-year low. [ID:nL1E8LU2Y1] Canada likely added very few jobs in the month after two bumper gains. ...
More proof the entire global economy is cooling rapidly comes from North of the border where Canada Loses Most Jobs Since 2009 Recession as Jobless Rate Rises to 7.3%Canada’s economy lost the most jobs since the 2009 recession during October, led by declines in the manufacturing and construction industries, cementing projections that the recovery is slowing.