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Canada unexpectedly sheds 9,400 jobs in June, annual growth weak

Published on Jul 11, 2014 9:32 PM
 
Motorized mannequins hold signs that read "Hire Me" in Toronto on May 23, 2014. Canada unexpectedly shed 9,400 jobs in June and the unemployment rate rose to 7.1 percent from 7.0 percent in May, underlining how employment growth has stalled despite a recovery in the United States. -- PHOTO: REUTERS

OTTAWA (REUTERS) - Canada unexpectedly shed 9,400 jobs in June and the unemployment rate rose to 7.1 percent from 7.0 percent in May, underlining how employment growth has stalled despite a recovery in the United States.

Statistics Canada said on Friday that the year-over year gain was just 72,300 jobs, or 0.4 percent, the lowest annual growth rate since the 0.4 percent recorded in February 2010.

Analysts surveyed by Reuters had expected a gain of 20,000 jobs in June.

"If you take the moving average for the first half of this year, it suggests very minimal job growth so far in Canada, so it has been a bit disappointing," said Paul Ferley, assistant chief economist at the Royal Bank of Canada.

 
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