Canada Job Creation Is Five Times Economist Forecasts
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Canada’s job creation was almost five times more than economists expected in June, restoring most of the country’s job losses since 2008 and bolstering the case for the central bank to raise interest rates for a second month.
Employment rose by 93,200 in June, following gains of 24,700 in May and April’s record 108,700, Statistics Canada said today in Ottawa. The jobless rate fell to 7.9 percent, the lowest since January 2009, from 8.1 percent. Economists surveyed by Bloomberg predicted 20,000 new jobs and an unemployment rate of 8.1 percent, according to the median of 23 estimates.