Economists surveyed by Bloomberg News projected a 10,000 job increase and an unchanged jobless rate, according to median forecasts. Its nice to see at least moderate job creation, but the pace has cooled, David Watt , chief economist at the Canadian unit of HSBC Holdings Plc, said. I dont expect a burst of job creation like we saw late last year. Its disappointing at this stage of the economy to see such weak labor force growth. Slowing job creation and signs of discouraged workers come a week after the Bank of Canada cut its economic growth forecast for the rest of the year with Senior Deputy Governor Tiff Macklem citing an elusive pickup in exports and investment. Employment growth has slowed after domestic spending and employment gains pulled Canada out of a recession triggered by the 2008 global financial crisis. The unemployment rate declined as fewer youths searched for work, Statistics Canada said in its report today. Currency, Bonds Canadas dollar strengthened 0.1 percent to C$1.0386 versus its U.S. counterpart at 12:03 p.m. in Toronto. One Canadian dollar buys 96.28 U.S. cents. Government benchmark two-year bond yields were unchanged at 1.20 percent. The participation rate fell to 66.4 percent from 66.6 percent, reaching the lowest since February, 2002. That development is very disappointing, Watt said in an e-mail. I would have thought that more would have been getting drawn back into the labor force, he said.
CANADA FX DEBT-C$ strengthens on firm jobs data, U.S. progress
government shutdown and avoiding a possible U.S. default also boosted risk-on trade, fueling U.S. stocks and the Canadian currency. “So any potential resolution of this budget impasse and addressing the risks surrounding the debt ceiling is obviously a good thing for risk and good thing for the Canadian dollar,” Tulk said. The U.S. Senate is expected to vote over the weekend on extending the federal borrowing limit through January 2015. President Barack Obama and congressional Republican leaders worked to end their fiscal impasse on Friday, but struggled to strike a deal on the details for a short-term reopening of the federal government and an increase in the U.S. debt limit. The Canadian dollar ended the North American session at C$1.0354 versus the greenback, or 96.58 U.S. cents, up from Thursday’s finish at C$1.0396, or 96.19 U.S. cents. The loonie touched its firmest level of the day earlier at C$1.0340, or 96.71 U.S.
Canada edges past U.S. in exhibition
“We had a similar scrap in 2010, so I guess we have one every Olympic cycle to get it out of our system,” said Wickenheiser who has been a member of the Canadian national team since 1993. “It was kind of fun to see, and it brought a lot of intensity to another dog fight with these guys. There are few if any blowouts in this series.” The game at Gutterson Fieldhouse was the first of at least seven scheduled meetings between the two powers leading up the Winter Games in Sochi in February. “It’s hockey,” American Meggan Duggan said. “It’s a tough sport and our coaches always emphasize everyone sticking up for each other.” Canada’s Carolina Ouellette opened the scoring at 4:16 of the second period, rapping the puck home off a feed from Jayna Hefford. Wickenheiser also picked up her first assist on the power-play goal. Just 1:21 later, Bailey Bram made it 2-0 with an even-strength goal. Tara Watchorn made it 3-0 with another power-play goal 4:54 into the third after Wickenheiser won a faceoff. Brianna Decker started the comeback bid on with a 5-on-3 power play at 11:05, on assists from Alex Carpenter and Duggan. Defender Gigi Marvin made it a one-goal game, skating in from the point to beat Szabados from the low slot with 5:31 to go. Twin sisters Monique and Jocelyne Lamoureux picked up the assists.