Publicado: Sáb, Noviembre 09, 2019
Financiera | Por Marilu Caballero

Jobs miss keeps door open for Bank of Canada to cut rates

Jobs miss keeps door open for Bank of Canada to cut rates

According to Stats Canada, October's rate was at 5.9 percent, an increase of over a point compared this time a year ago, with the rate at 4.8 percent. Looking "under the hood" of the Canada jobs report revealed even bleaker details with a decrease in full-time employment to the tune of -16.1K jobs.

Economists on average expected the economy to add a total of 15,900 jobs and an unemployment rate of 5.5 per cent, according to financial markets data firm Refinitiv. The number of self-employed workers in October fell by 27,800.

"We have to be cautious about reading too much into any one report, but it shows that the economy is not simply on a one-way trip north here", Porter said.

China sentences 9 in fentanyl trafficking case after U.S. tip
Liu Yong was sentenced to death with a two-year reprieve, while Jiang Juhua and Wang Fengxi were sentenced to life in prison. All three were "lured by high profit and huge demand" from U.S. buyers, the Xingtai Intermediate People s Court said.

The manufacturing sector lost 23,000 jobs, mostly in Ontario, while the construction sector lost 21,000. Canada's unemployment rate was unchanged at 5.5 percent. The Bank of Canada said it would monitor "the extent to which the global slowdown spreads beyond manufacturing and investment" going forward while watching domestic data.

In a separate release, Statistics Canada said the value of Canadian building permits dropped by a larger-than-expected 6.5% in September to $8.3 billion because of declines in the residential sector.

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