Job and Export Drops Show Canada Hurt by Global Weakness

Canada’s biggest employment loss since the recession four years ago and an unexpected trade deficit underscore how the world’s 11th largest economy is being hobbled by weak global demand.

The drop of 54,500 positions reported today by Statistics Canada offset a 50,700 gain in February, and lifted the unemployment rate to 7.2 percent from 7 percent. The merchandise trade deficit for February was the 11th in a row, marking the longest streak in records dating to 1988.