Dear All,
This is the news for all who are going to land in Canada.
Canada economy creates surge of jobs in June
* Economy adds 93,200 jobs vs 15,000 forecast
* Unemployment rate drops to 7.9 pct from 8.1 pct
* Services gain while goods sector sheds workers
* Rate hike on July 20 seen as more likely (Adds analysts, market reaction, details)
Canada's economy created far more jobs than expected in June in a surprising sign of strength after a raft of discouraging data, fueling expectations the central bank will hike interest rates again this month.
Statistics Canada said on Friday employment surged by 93,200 in June, adding to gains to nearly make up for the 417,000 jobs lost during the country's recession.
Analysts had predicted an increase of 15,000 jobs after a moderate gain in May of 24,700 positions.
The unemployment rate in June fell unexpectedly to 7.9 percent from 8.1 percent, the lowest since January 2009 but still well above the pre-recession level of 6.2 percent.
For more information on economy also refer
http://www.rbc.com/economics/market/pdf/ecotrend.pdf
Regards,
Mayank
