Nice bounce for Canadian job growth

|By:, SA News Editor

The loonie's (FXC +0.5%) having a good session after Canada added 29.4K jobs in January, surpassing expectations for 20K. The unemployment rate slipped to 7% from 7.2%.

"Today's solid comeback represents a nice recovery from the ugliness in last month's Canadian employment report," says BMO's Doug Porter. He reminds the 7% unemployment rate is unchanged from a year ago - job growth is only keeping up with labor force growth.

The TSX is flat on the session.

Related ETFs: EWC, CNDA, FCAN, EWCS