Tag Archives: Statistics

Canadian dollar falls after highest job losses since recession 4 years ago

Canadian Dollar Tumbles After Unexpected March Employment Loss

By Ari Altstedter

The Canadian dollar fell in its biggest decline in nine months against its U.S. peer after the nation unexpectedly lost jobs last month by the most since the last recession four years ago.

The currency declined against 13 of its 16 major peers as Canada had 54,500 fewer jobs in March, compared with the 6,500 gain predicted in the median estimate of a Bloomberg survey of 24 economists. The nation’s jobless rate increased to 7.2 percent from 7 percent. The U.S. added 88,000 jobs in March, versus estimates of a 190,000 gain. The Bank of Canada’s March 6 policy statement called for the economy to “pick up through 2013” on its way to 2 percent annual growth.

“Huge miss on both numbers, but particularly the Canadian number after many months of surprisingly strong employment data, we’ve finally seen some give back, so pretty swift reaction for the Canadian dollar,” said Blake Jespersen, managing director of foreign exchange at Bank of Montreal, by phone from Toronto. “There’s a lot more room for this to run, I think this is just the beginning of what could be a series of weaker employment numbers in Canada.”

The loonie, as the Canadian dollar is known for the image of the C$1 coin, fell 0.5 percent to C$1.0176 at 5 p.m. in Toronto. Earlier, it fell 1.1 percent to C$1.0236 per U.S. dollar, the largest drop since June 28. One loonie buys 98.27 U.S. cents.

Bonds Gain

Canada’s benchmark 10-year government bonds rose, with yields falling four basis points or 0.04 percentage point to 1.75 percent, touching the lowest level since Dec. 11. The 1.5 percent security maturing in June 2023 rose 36 cents to C$97.68.

Crude oil, the country’s biggest export, fell 0.3 percent to $93.02 per barrel in New York, after touching its lowest point since March 7. The Standard & Poor’s 500 Index of U.S. stocks fell 0.4 percent.

Canada’s jobs figures brings the labor market more in line with other parts of the economy, where output growth slowed to a 0.6 percent annualized pace in the fourth quarter and inflation has lagged the central bank’s 2 percent target since May. Last month’s figures mean Canada posted a net loss of 25,700 jobs in the first three months of the year.

’Ugly Across’

“It was ugly across the board, there wasn’t one redeeming feature for the Canadian employment report,” said Mark Frey, chief market strategist at Cambridge Mercantile Group, a corporate currency broker, by phone from Victoria British Columbia. “When you look at the overall employment figures for Q1 in Canada, you’re seeing a pretty bleak outlook that has turned almost on a dime from the last five months of 2012.”

A separate report showed Canada recorded its 11th straight merchandise trade deficit in February, the longest streak in at least 25 years, with the shortfall unexpectedly widening as exports of metals declined.

The deficit of C$1.02 billion ($1 billion) followed a January figure that was revised to C$746 million from C$237 million, Statistics Canada said today in Ottawa. Economists surveyed by Bloomberg forecast the string would end with a C$100 million surplus, based on the median of 21 forecasts.

“Obviously disappointment on both sides of the border,” said David Tulk, chief macro strategist at Toronto-Dominion Bank (TD)’s TD Securities unit by phone from Toronto. “The labor market is sort of catching up to the wider economic backdrop that we’ve always argued is still quite subdued, so this helps a little bit.” ….

Read more » Bloomberg
http://www.bloomberg.com/news/2013-04-05/canadian-dollar-extends-loss-after-unexpected-march-jobs-decline.html

CBC News – Canada loses 54,500 jobs in March

Jobless rate ticks higher to 7.2% as private-sector hiring slumps

By CBC News

Canada’s economy lost 54,500 jobs in March, bleak new data from Statistics Canada showed Friday.

That’s the worst month for Canadian employment since the recession of 2009. When added to the numbers for January and February, they show that Canada’s economy has lost 26,000 jobs so far in 2013 as a whole

The job losses pushed Canada’s jobless rate higher to 7.2 per cent.

“Official unemployment would have increased even more but for 12,300 Canadians dropping out of the labour force altogether and consequently not being counted as unemployed,” United Steelworkers economist Erin Weir said of the data.

Provincially, Quebec, British Columbia and Alberta lost jobs, and employment edged down in Ontario. The only province with an increase was Nova Scotia.

Loonie sinks on news

Private sector hiring, the engine of growth that policymakers keep a close eye on, actually fared even worse. There were 85,000 fewer private sector workers in March, while the public sector was largely unchanged,

There was an increase of 39,000 among self-employed people that counteracted the decline.

Overall, economists had been expecting about 6,500 new jobs, so a loss of 54,500 represents a considerable miss.

Much of the losses came among those in the core working-age group of those between 25 and 54. Among those younger than 25 and older than 54, the job numbers were pretty steady.

The Canadian dollar lost half a cent to trade below 98 cents US in reaction to the news.

Courtesy: CBC News
http://www.cbc.ca/news/canada/story/2013/04/05/business-jobs-canada.html

Canada – Manufacturing sales drop sharply

By: The Canadian Press

Statistics Canada says manufacturing sales fell 3.1 per cent in December to $48 billion, the largest decline since May 2009 and worse than expected. ….

Read more » CBC
http://www.cbc.ca/news/business/story/2013/02/15/business-manufacturing-drop.html

ISLAMABAD: Population by mother tongue

According to the statistics of Population and Census Organization, Government of Pakistan the percentage of people living in Islamabad based on mother tongue is: (Urdu  10.11), (Punjabi 71.66), (Sindhi o.56), (Pashto 9.52), (Balochi 0.06), (Saraiki 1.11), (others 6.98)
From these figures it is clear who gets high benefits from Islamabad? Wouldn’t it be fair that provinces give their share to federal institutes located at Islamabad based on their population? Are the people of Islamabad more poor to have highest number of public institutes and services as compared to rest of the populace of the country?

For more details : statpak.gov.pk