(October 8 – 11:30 ET)–-
Nesbitt Burns chief economist
Sherry Cooper, says today’s
Canadian jobs report will be
positive for the C$ because it
raises the prospect of the
Bank of Canada raising interest
rates before yearend.
Cooper says the boffo report
– 63,800 new jobs were
created in September, double most
estimates – shows that labour
markets are indeed still trying to
catch up with the economy. She
notes that over the past 12 months,
employment has risen 2.4% while
GDP is up more than 4%.
Cooper says the report was
particularly good because it
actually revealed more full-time
job creation, with 9,000
part-timers disappearing.
Manufacturing had the strongest
gains, concentrated in Ontario
and Québec, while
Newfoundland had a phenomenal
6.1% gain.
IE Staff