Good employment news on both sides of the border is boosting futures trading and boding well for a positive opening on the equities markets this morning.

In Canada, employment rose by an estimated 65,000 in October, almost all in full-time jobs. This was the second consecutive increase in employment, says Statistics Canada, following slow growth earlier in the year. Since the beginning of 2003, employment has grown by 1.0% (+164,000). The unemployment rate fell 0.4 percentage points in October to 7.6%.

In the U.S, the unemployment rate dropped to its lowest level in six months. Employers are finally hiring, and in October they boosted payrolls more than double what economists had expected. The unemployment rate fell a tenth of a percentage point to 6%, says the Labor Department. Non-farm business payrolls jumped 126,000. In October, employers also increased workers’ hours for the first time in three months: the average workweek grew six minutes to 33.8 hours.

In early business news, Bombardier Inc. CEO Paul Tellier says his company could decide to move its aircraft production out of Canada if its export subsidies are slashed. The federal government has been under pressure to curb aid given by Export Development Canada.

Royal Bank CEO Gordon Nixon says his bank could afford to spend as much as $10 billion on a U.S. acquisition without seriously undermining its financial position.

Asian stock markets closed mostly higher. Tokyo’s Nikkei Stock Average rose 76.68 points, or 0.73%, at 10,628.98 points as technology and exporters advanced following a new 52-week high on the Nasdaq composite index in New York.

In Hong Kong, the Hang Seng Index rose 65.08 points, or 0.54%, to 12,215.17.

In London at midday, the FTSE 100 is up 1.42%. Frankfurt’s DAX has gained 1.74%. Paris’s CAC 40 is up 1.34%.

On Thursday, favourable economic news and solid corporate earnings sent stock markets cautiously higher. The information technology sector kept the S&P/TSX composite index above water, closing up 3.19 points to 7,870.87 in its ninth consecutive winning session at its highest level since April 2002.

The Dow industrial average moved up 36.14 points to 9,856.97. Cisco’s report of higher sales and a quarterly profit up 76% from last year lifted the Nasdaq composite index 17 points to 1,976.37. The S&P 500 rose 6.24 at 1,058.05.

The Canadian dollar lost 0.34 of cent to 74.71¢ US as the American dollar improved against other currencies.