Wednesday, 21 November, 2018

Ottawa-Gatineau unemployment rate steady at 4.4% in June

THE CANADIAN PRESS  Jonathan Hayward Workers are THE CANADIAN PRESS Jonathan Hayward Workers are
Russell Knight | 08 July, 2018, 17:12

With more people searching for work, Statistics Canada reported the national unemployment rate rose to six per cent. The local jobless rate in June 2017 was 7.0 per cent. Market expectations were for an increase in employment of 20,000, according to economists at Royal Bank of Canada. There are also growing fears of global disruptions as a trade fight escalates between the USA and China.

While Canada's dollar is expected to climb over the coming year, currency strategists in a separate Reuters poll were less bullish than they were a month ago as escalating trade uncertainty competes with expected Bank of Canada interest rate hikes.

The Bank of Canada is expected to raise its target for the overnight rate to 1.5% on Wednesday.

Compared with a year earlier, total employment increased by 1.2% 214 after the creation of 90 jobs.

Services sectors, meanwhile, lost 14,700 jobs mostly because of big decreases in accommodation and food services positions as well as wholesale and trade.

Pikachu gets "summer style" variant to celebrate Pokemon Go’s birthday
Trainers possessing a gold Pikachu medal will be able to purchase all related items, including a T-shirt and Pikachu ears. Niantic didn't give an exact release date for Celebi, but we'll be keeping an eye out for more specifics going forward.

Fed: Trade Uncertainty Could Erode Investments, Confidence
A narrowing in the gap between short-term and long-term rates has been an accurate predictor of downturns in the past. Beijing has promised to retaliate with tariffs on US goods, including farm products such as soybeans.

Federer shows off ‘Sneak Attack By Roger’ party piece in Wimbledon cruise
Roger Federer was excited to pull out his SABR return to liven up a straightforward third-round victory over Jan-Lennard Struff. Zverev also erased a 2-1 deficit three times to reach the quarterfinals of the French Open, his best result at a Grand Slam.

While the central bank's latest Business Outlook Survey was largely taken prior to US tariffs on steel and aluminum being imposed-a fact that the BoC also highlighted-the resulting uncertainty did not sway the C.D. Howe council's vote for next week's BoC meeting.

Separately, Statscan said Canada's trade deficit in May grew to $2.77 billion from $1.86 billion in April.

The May numbers show that imports expanded 1.7 per cent, while exports dipped 0.1 per cent.

Exports declined mostly because of weaker trade on motor vehicles and parts as well as metal ores and non-metallic minerals.

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