The unemployment rate has again decreased. The economy has created far more jobs than the economists predicted. More good news for Canadaians and our strong stable Tory majority government.
Oct. 7 (Bloomberg) -- Canada’s dollar gained for a fourth day after a government report showed employers added more positions last month than economists forecast, countering speculation the economy is weakening.
Employment rose by 60,900 in September after a decline of 5,500 in August, Statistics Canada said today in Ottawa. The unemployment rate fell to 7.1 percent, its lowest since December 2008. Bloomberg News surveys called for a job gain of 15,000 and unemployment to remain at August’s reading of 7.3 percent.
“We’ve now had a reasonable GDP print and a reasonably good Canadian employment number so that is good news for people looking at the fundamental story for Canada,” said Camilla Sutton, head of currency strategy at Bank of Nova Scotia in Toronto. “The market will now be looking to U.S. job numbers for its sentiment.”
The Canadian currency rose 0.3 percent to C$1.0336 per U.S. dollar at 7:36 a.m. in Toronto, from C$1.0371 yesterday. It touched C$1.0658 on Oct. 4, the weakest level since August 2010. One Canadian dollar buys 96.75 U.S. cents.