Friday, May 07, 2010

Canadian unemployment 8.1%

A huge surge in job creation has made unemployment go down to 8.1%. The economy created 108,700 jobs. No wonder iffy hasn't asked an economic question in a month. The eu has nothing to teach HM PM Harper . Un employment in countries like Spain is now at 20%. The recovery is not jobless.
U.S unemployment under the hope and change guy is now 9.9%

TORONTO (Dow Jones)--The Canadian dollar was on the rise Friday morning, gaining back some day-earlier losses on a jobs report that far exceeded expectations.

The currency's gains were moderate however, with the positive economic data entering a market that is still nervous about sovereign debt issues in the euro zone.

"Huge numbers in Canada," said Jon Gencher, director of foreign exchange sales at BMO Capital Markets in Toronto. "But the market is still going to trade very close to home. It's all still about the euro."

The U.S. dollar traded at C$1.0368 after the jobs headlines, from C$1.0554 late Thursday afternoon.

Canada added 108,700 jobs in April, Statistics Canada reported early Friday, more than four times the 25,000 new jobs expected by economists. The record-setting total includes 43,800 full-time jobs.

With April's new jobs, the Canadian unemployment rate dropped to 8.1%, its lowest level in a year, raising the likelihood that the Bank of Canada will move to increase interest rates on June 1 when it meets next, rather than waiting until July as previously expected

1 comment:

Anonymous said...

Good work Mr. Harper! But, I never believe these numbers anyways as the real unemployment number is likely several points above the official number at any time. More significant is that I cannot remember when US unemployed percentage was higher than in Canada? Anyone else? (real conservative)

I Support Lord Black