At The Bell: Canada’s Unemployment Rate At Fourty Year Low
Canada’s economy added more jobs than expected last month. Stats Can says 54,100 jobs were created and the national jobless rate dropped to a 40 year low at 5.8-percent.
82,000 part-time jobs were created and that helped offset a loss of 28,000 full-time jobs.
It could be another push for the Bank of Canada to increase interest rates next month.
World markets are down about 1.5-percent as investors watch Turkey’s economic freefall. The countries lira dropped 10-percent this morning and throughout the Eurozone investors are backing off fearing exposure to the Turkish bond market and devaluation.
Dow Jones futures are also weak this morning off by 115 points.
It was a positive day on Bay Street yesterday with help from bank stocks. The TSX finished up 102 points to 16,416.
The Canadian dollar is down to $0.7651 cents U.S. and oil is up $0.45 to $67.26 a barrel.