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Tuesday, January 31, 2023
HomeBusiness ReportAt The Bell: Canada's Unemployment Rate At Fourty Year Low

At The Bell: Canada’s Unemployment Rate At Fourty Year Low

Canada’s economy added more jobs than expected last month.  Stats Can says 54,100 jobs were created and the national jobless rate dropped to a 40 year low at 5.8-percent.

82,000 part-time jobs were created and that helped offset a loss of 28,000 full-time jobs.

It could be another push for the Bank of Canada to increase interest rates next month.

World markets are down about 1.5-percent as investors watch Turkey’s economic freefall.  The countries lira dropped 10-percent this morning and throughout the Eurozone investors are backing off fearing exposure to the Turkish bond market and devaluation.

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Dow Jones futures are also weak this morning off by 115 points.

It was a positive day on Bay Street yesterday with help from bank stocks. The TSX finished up 102 points to 16,416.

The Canadian dollar is down to $0.7651 cents U.S. and oil is up $0.45 to $67.26 a barrel.

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