Canada Loses 7,000 Jobs in February

Canadian employment fell for the second time in three months in February, a surprise decline led by a drop in government workers.

Employment fell by 7,000 and the jobless rate was unchanged at 7.0 %, Statistics Canada said Friday in Ottawa. Economists surveyed by Bloomberg News projected a 15,000 job increase and an unchanged jobless rate, according to median forecasts.

The Canadian dollar weakened to a session low after the data was released. The Canadian dollar was at 90.46 U.S. cents, weaker than Thursday’s close of 90.98 U.S. cents. The loonie hit a session low of C$1.1064 shortly after the data was released.

via Financial Post

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza