The Canadian and U.S. economies continued to generate jobs in November.

The Canadian unemployment rate fell to 6.4% in November – a 30-year low. Statistics Canada said the economy churned out 30,600 new jobs last month.

The U.S. Labor Department said November nonfarm payrolls climbed by 215,000 jobs after a downwardly revised 44,000-job increase in October.


The U.S. unemployment rate held steady at 5.0% last month. The increase in jobs was the largest since payrolls grew by 277,000 in July. Wall Street expected an increase of 220,000 jobs and a 5.0% unemployment rate in November.

The Canadian dollar shot higher on the news. The loonie rose to US86.04¢, up from US85.86¢ at Thursday’s session close.

Despite futures good news on jobs, equity markets opened in the red. Shortly after Friday’s open, the S&P/TSX composite index was down 8.08 points at 10,991.56.

The Dow Jones industrial average was off 18.01 points at 10,894.56.

Remarks from Federal Reserve Chairman Alan Greenspan also may help set the tone of today’s trading session.

Greenspan said the U.S. economy is growing at a “reasonably good pace” heading into 2006, but the budget deficit will worsen significantly unless steps are taken to control entitlement spending, particularly on health care.

Among stocks to watch, Ford Motor is considering closing five plants that employ 7,500 workers, including an engine parts factory in Windsor, Ont.

In other news, Torstar Corp. and the Ontario Teachers’ Pension Plan are each buying stakes in Bell Globemedia from BCE Inc.

Conrad Black pleaded not guilty to eight fraud charges at an arraignment hearing in Chicago Thursday and had bail set at US$20 million.

Crude-oil prices rose 66¢ to US$59.13 a barrel in early trading Friday amid prospects of more cold weather in the U.S.

Overseas, the Nikkei 225 hit a new five-year high, closing 1.9% higher at 15,421.60.

The French CAC 40 reached a three-year high in Paris, and the London FTSE 100 also was higher on gains among miners after copper hit a record level in Shanghai.

Toronto stocks rallied Thursday, as report on U.S. inflation buoyed investors’ hopes for an early end to hikes in interest rates. The S&P/TSX composite index finished up 175.50 points, or 1.62%, to 10.999.64.

Volume on the senior exchange was 331 million shares.

The S&P/TSX Venture composite index finished up 22.36 points, or 1.09%, to 2,072.39.

In New York, markets soared as investors were cheered by positive economic data suggesting inflation might be in check.

The Dow Jones industrial average rose 106.70, or 0.99%, to 10,912.57, The S&P500 index added 15.19, or 1.22%, to 1,264.67, and the Nasdaq composite index surged 34.35, or 1.54%, to 2,267.17.