5 August 2011

In case of Canada, there were 7,100 jobs created in July. And although it’s only a half of what economists had predicted, Canada’s doing great showing three consecutive months of growth.
According to Statistics Canada, the unemployment rate fell to 7.2% last month. It’s the lowest level since December 2008. There were 25,500 more full-time workers this time and 18,400 fewer part-time workers.
BMO Capital Markets deputy chief economist Doug Porter said “it’s not exactly what we wanted, but also not bad”.
We’d like to note that all global economic uncertainties help Canadian homeowners to enjoy extremely low mortgage interest rates for a very long period of time. Today we even saw a few reports suggesting that Bank of Canada might CUT the rates early next year.