Canadian employment edged lower for the second consecutive month in March. Statistics Canada reported today that employment fell by 13,000 jobs last month. As a result, the unemployment rate edged up 0.1 percentage points to 7.5%.

The agency said this leaves employment 0.1%, or 20,000 jobs, below the level at the start of the year.

Youth employment did not recover from losses in February, while adult women lost 18,000 jobs last month, mostly in part-time work.

The employment news is better south of the border. The number of Americans filing new claims for unemployment benefits dropped last week to the lowest level in more than three years. The U.S. Labor Department reported Thursday that new applications filed for jobless claims declined by a seasonally adjusted 14,000 to 328,000 for the week ending April 3. That marked the lowest level since April 13, 2001.

There was also positive news from major U.S. retailers. Many retail chains enjoyed their fourth-straight month of solid sales in March.

Wal-Mart Stores Inc., Costco Wholesale Corp., Limited Brands and Nordstrom Inc. all had results that topped Wall Street forecasts.

In early Thursday earnings news, General Electric reported a quarterly profit of US$3.2 billion, in line with expectations.

On Thursday,. the S&P/TSX composite index fell 25.12 points to 8,807.59 on volume of 247.5 million shares.

After the market closed, Research In Motion said its fourth-quarter profit more than doubled.

The company also announced plans for a two-for-one stock split.

RIM, said it made $41.5 million, or 46¢ per share, in the three-month period ended Feb. 28. That reverses a year-earlier loss in the comparable quarter of $31 million, or 40¢ per share.

RIM shares ended the day down $2.84 at $141.16.

In other business news, Air Canada chief restructuring officer Calin Rovinescu resigned Wednesday. The Montreal-based carrier said Rovinescu’s responsibilities will be assumed by other executives, including CEO Robert Milton and the court-appointed monitor overseeing the company’s restructuring under bankruptcy protection.

Overnight in Asia, Tokyo shares rebounded to a 32-month high on improved economic sentiment. The Nikkei climbed 72.97 points to 12,092.59.

Hong Kong shares closed almost flat in a lacklustre session as investors stayed on the sidelines ahead of the four-day Easter holiday. The Hang Seng Index shed 10.68 points to finish at 12,909.37.

The junior S&P/TSX Venture composite index inched up 1.86 points to finish at 1,881.67.

In New York, stocks fell as aluminum producer Alcoa disappointed Wall Street with its earnings. The Dow Jones industrial average closed down 90.66 points at 10,480.15. The S&P 500 finished down 7.65 points at 1,140.51. The tech-heavy Nasdaq composite index fell 9.66 points to 2,050.24.

The markets are closed Friday for the Good Friday holiday.