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Friday, September 7, 2012

Jobless Rate Up

Canadian employers added 34,300 jobs to the economy during August.

That's well ahead of the 10,000 economists had expected, but the gains were all in part-time work.

In Saint John unemployment rate went up from 8.6% in July to 9% in August.

In the province unemployment was up from 10% to 10.4%.

At the Bank of Montreal, economist Doug Porter is saying the August report is a little better than expected, but underwhelming.

The latest jobs report is nearly a complete reversal of the picture in July, when the economy shed about 30-thousand jobs.