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Canada employment dropped about 42,000 in August, which Ali Jaffery of KPMG Canada called likely a labor-supply story. He said unemployment rose about 4,800 while the labor force contracted 37,000.
Canada shed nearly 42,000 jobs in August, partially reversing a 75,000 gain in the prior month. CIBC Capital Markets says job growth on 3-, 6- and 12-month averages is about 20,000 a month.
Canada employment fell -42,000 in August versus July, vs. +15,000 markets expected.