Seeking Alpha

Nice bounce for Canadian job growth

  • 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
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