The Canadian economy's record of habitually churning out robust employment growth came to an abrupt end in December, as 18,700 jobs disappeared, Statistics Canada said Friday. The report was much weaker than analysts were expecting. The consensus had been that the country would add about 15,000 jobs. It was the first drop in employment in eight months. The Canadian dollar immediately fell by more than a cent as the figures increased speculation that the Bank of Canada will have to cut interest rates more aggressively. The loonie was trading at 98.06 cents US at 3:15 p.m. ET, down 1.21 cents. Douglas Porter, deputy chief economist at BMO Capital Markets, said the weak jobs report "all but seals the deal" for a Jan. 22 rate cut. That opinion was echoed by many other economists. The main reason for the weakness was manufacturing. Statistics Canada said 33,200 more factory jobs disappeared last month, bringing 2007 losses in the sector to...
General Motors said Tuesday it will halt production at its pickup truck plant in Oshawa, Ont., axing as many as 2,600 jobs in the process. The Canadian Auto Workers promised an all-out fight...
Canada's jobless rate dipped to 5.8 per cent in January, as the economy churned out a greater-than-expected 46,400 jobs, Statistics Canada said Friday. - The unemployment rate matches the...
The deluxe Canadian-made McLaughlin-Buick once used to shuttle King Edward VIII and his love Wallis Simpson, for whom he would eventually abdicate the throne, will go under the hammer Monday at...
The Canadian economy churned out a better-than-expected 42,600 new jobs in November. But the jobless rate rose slightly as more people entered the labour force. - Economists had expected...
The price of used cars is dropping in Canada, thanks in part to the rising number of consumers spending their strong loonies on vehicles south of the border. A new report from Scotia Economics...
The Canadian dollar made headlines throughout 2007, and its turn from lacklustre to lofty secured its fame Thursday as Time magazine's Canadian Newsmaker of the Year. - Over the past 12...
Canada must put a price tag on carbon emissions and then develop a carbon tax system to target emitters, a new federal report recommends. The report was released Monday by an independent...
The Bank of Canada cut its key interest rate by a quarter of a percentage point Tuesday, citing the increased risks to Canada's economy from the weakness south of the border. - The cut...
The federal government doesn't know the whereabouts of almost 41,000 people ordered to leave Canada as of last September, the auditor general said Tuesday, and has been overcharging Canadians who...
The federal Conservative government is set to unveil a balanced budget on Tuesday, one without major new tax cuts or spending plans, but possibly a surplus at least $1 billion higher than...
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