The Canadian PressMarch 7, 2014 10:27
TORONTO - The Canadian dollar was sharply lower Friday amid a big miss in expectations for Canadian job creation last month.
The loonie fell 0.73 of a cent to 90.25 cents US as Statistics Canada reported that the economy shed 7,000 jobs during February. Economists had looked for a gain of 15,000 positions. The unemployment rate held steady at seven per cent.
The news was much better from the United States, where the economy created 175,000 jobs last month, well above expectations for 139,000 job gains. The unemployment rate rose to 6.7 per cent from 6.6 per cent.