Canada Adds 43,000 Jobs, Unemployment Rate 6.5%

The Canadian economy added 43,000 jobs in October, pushing the jobless rate down to its lowest level since November 2008.

Statistics Canada said Friday that Canada has now produced 182,000 jobs in the past year. But two-thirds of those jobs have come in the past two months.

The strong monthly figure is much better than what most economists had been expecting — a slight pullback after a strong September figure. Instead, it was the first time there have been back-to-back monthly gains since the end of 2012.

“Throughout this year, we’ve been trapped in an oscillating pattern of gains one month only to be followed by losses the very next month,” Scotiabank said in a research note ahead of the release of the data.

via CBC

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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