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Canadian Employment – Catches Analysts Flat-footed

December 10, 2012 12:54 pm GMT+0  in Canada

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Canadian employment surprised on the upside, beating hollow analysts’ estimates.

Data for November showed that the country added 59,300 jobs, mostly in full time openings and predominantly in the private sector.

The unemployment rate declined to 7.2%.

The data comprehensively beat tepid forecasts of an addition of 10,000 jobs and a jobless rate of 7.4%.

The data also raised doubts about a slowdown in the Canadian economy, and led to speculation that its underlying fundamentals may be better than thought.

 

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Saul Griffith is an investor and trader in stocks, commodities and forex, writing under a pen name. Saul has professional accounting qualifications and extensive experience in industry and the financial markets. He also has an abiding interest in breaking news that could be a harbinger of new trends and give insight into an instrument’s potential for providing value, growth or yield. Additionally, he keeps abreast of technology and political developments – in his opinion these are areas which could help shape global recovery from the current turmoil. Connect the author on Google: +Saul Griffith.

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