SHOCKER: Canada Loses 54K Jobs In October, Unemployment Rate Spikes To 7.3%

Canada

Photo: archer10 via Flickr

WHOA: UGLY report in Canada.

In October, the country shed 54K jobs, which compares to expectations of a gain of 15K jobs.

Unemployment jumped to 7.3%. It was expected to hold steady at 7.1%.

Bear in mind that last month saw a huge upward surprise, with 60.9K supposedly gained in September, so this wipes out all that.

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Original post: To get you excited about the US jobs report at 8:30, we’re covering LIVE the Canadian jobs report at 7:00 AM ET.

Analysts are looking for 15K jobs created, and an unemployment rate of 7.1%.

Remember last month, Canada crushed it, creating 61K new jobs.

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