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Canada Posts Surprise Employment Loss in June
Canadian employment unexpectedly fell in June, with the second decline in three months led by the biggest drop in part-time work in almost two years. Employment fell by 9,400 and the jobless rate rose to 7.1 percent from 7.0 percent, Statistics Canada said today in Ottawa. Twenty economists surveyed by Bloomberg News projected a 20,000 job increase and no change in the unemployment rate, according to the median forecasts. The last major data release before Bank of Canada Governor Stephen Poloz’s July 16 interest-rate decision supports his view there’s still plenty of slack in the world’s 11th largest economy. ... (full story)
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