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03 february 2012, 17h01
Economy stagnates
(CP PHOTO/Jacques Boissinot)
Statistics Canada reported Friday that employment rose by only 2,300 jobs in January, statistically meaningless and continuing a seven-month stretch of disappointing results. With more people looking for work during the month in Canada, the paltry gain was not sufficient to keep the unemployment rate from rising for the third time in four months to 7.6 per cent, the highest since April. The continued weakness in the Canadian economy and particularly on the jobs front has some economists calling for policy-makers to act to stimulate the economy. The consensus going into Friday's report had been that Canada would see a 25,000 job increase, given that the labour market had been
weak for some time.
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