Unemployment in Canada dropped to 7.9 percent in October, according to CTV citing Statistics Canada.
The Canadian market added 3,000 new jobs last month, which is only a fifth of the forecasted jobs, according to the Toronto Sun.
Overall, the joblessness rate fell down a tenth of a point.
“Today’s soggy employment gain extends the broader theme of much more modest growth in Canada than seen in the opening months of the year,” BMO deputy chief economist Doug Porter, told the Sun.
He added that the job data are “uniformly better” than they suggest, however.
The good news is that this is the first time the joblessness rate has fallen below 8 percent since June 2009.
“When we dig through all these numbers, economists will tell us we have a brightening picture on the job front, and that is a relief,” Business News Network’s Michael Kane told CTV.
The Canadian market added 3,000 new jobs last month, which is only a fifth of the forecasted jobs, according to the Toronto Sun.
Overall, the joblessness rate fell down a tenth of a point.
“Today’s soggy employment gain extends the broader theme of much more modest growth in Canada than seen in the opening months of the year,” BMO deputy chief economist Doug Porter, told the Sun.
He added that the job data are “uniformly better” than they suggest, however.
The good news is that this is the first time the joblessness rate has fallen below 8 percent since June 2009.
“When we dig through all these numbers, economists will tell us we have a brightening picture on the job front, and that is a relief,” Business News Network’s Michael Kane told CTV.
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