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Job Gains Top Forecasts in Canada; Unemployment Holds at 5%
Canadian employment grew more than expected for a fifth straight month, again defying expectations for a coming economic slowdown. The country added 41,400 jobs in April, all in part-time work, while the unemployment rate held near a record low at 5%, where it’s been since December, Statistics Canada reported Friday in Ottawa. The figures beat expectations for a gain of 20,000 positions and a jobless rate of 5.1%, according to the median estimate in a Bloomberg survey. Bonds dropped. The 2-year Canada yield shot up about 8 basis points to 3.686% at 8:40 a.m. Ottawa time. After an unexpectedly strong start to the ... (full story)