Economic news

Canadian Currency Tumbles on Unexpected Jobs Data Drop

The Canadian economy failed to buoy economy development, loosing more than 71,000 jobs in the previous month after shedding 1,800 in October, though market expectations were only of a 10,000 gain. Employment rate went down in such large cities as Quebec (-45,000), Alberta (-18,000) and British Columbia (-18,000), registering fewer changes in the other provinces. 

canadian dollar slipsPhoto: Pexels

As for the industrial area, lowering in employment was registered both in the goods-producing sector, in particular in manufacturing (-28,000) and environmental resource (-6,500), as well as in the services-producing unit, mainly in public administration (-25,000). 

The Canadian currency went down versus the greenback on Friday, after data, that showed the job contraction in November. The Loonie diminished by 0.59 percent, to 1.3254 at 15.15 GMT.

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