Canada Posts Surprise August Employment Decline

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Canadian employment unexpectedly fell in August led by a record drop in private-sector jobs, undermining policy makers’ optimism about Canada’s economic recovery.

Employment fell by 11,000Bloomberg Terminal and the jobless rate was unchanged at 7.0 percent, Statistics Canada said today in Ottawa. Economists surveyed by Bloomberg News projected a 10,000 job increase and unchanged unemployment according to median forecasts in Bloomberg surveys.