TORONTO — Stock markets in Canada and the United States fell on Friday after the release of labour data from both economies.
Statistics Canada reported that the previously hot labour market stalled out to end the summer with a loss of 42,000 jobs in August, while the unemployment rate held steady at 6.4 per cent.
Sébastien Mc Mahon, chief economist at iA Financial Group, said it’s important to look at the overall trend.
“Even though the headline looks kind of weak, that still supports the view that Canada’s economy is going strong,” said Mc Mahon.
August’s losses fell short of economists’ expectations for a gain of
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