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Fewer job growth, uptick in Unemployment rate for Canada

The July unemployment figures from Canada were lousy at best. Employment in Canada was down 39,400 in July, the expectation from economist was a net gain of 10,000 jobs. As result, the unemployment increase from 7.1% to 7.2%. Private sector
jobs increased, but government experienced significant losses. The report
highlights tepid growth and minimum consumer confident.

The Canadian dollar has depreciated 40% against the U.S. dollar in current trading.