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While a modest gain in December employment was forecast, Canada instead booked a loss of 45,900 jobs, pushing the jobless rate above that of the U.S. for the first time in more than five years.
While a modest gain in December employment was forecast, Canada instead booked a loss of 45,900 jobs, pushing the jobless rate above that of the U.S. for the first time in more than five years.
(Kevin Van Paassen/THE GLOBE AND MAIL)

As U.S. job market stutters, Canada’s downward trend grows clearer

There’s no way to sugar-coat the latest Canadian job numbers, which are brutal. Economy watchers had predicted a modest gain for December and no change in the unemployment rate. What we got instead was a surprising net loss of 45,900 jobs – all of the full-time variety almost evenly split among manufacturing and services . It was the biggest drop since March. Unemployment jumped to 7.2 per cent, the first time Canada’s rate has exceeded that of the U.S. in more than five years.