Canadian Jobs

According to Stats Canada, over 69,000 jobs were created last month, which is a pretty strong number, raising hopes that a labor market recovery may finally be taking hold. In contrast, while the US jobless rate declined from 9.4% to 9%, that's largely due to people dropping out of the job market.

The 69,200 gain far outpaced consensus of between 15,000 and 21,000. Now it's not so much the absolute number that matters, because these numbers can fluctuate a large degree from month-to-month; it's the trend that matters, and the trend is up. According to economists, Canada has recouped all of the jobs lost in the recession that began in 2008, though a net loss persists in manufacturing.

On this strength, the Canadian dollar continues to rise against the Greenback.

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