Canada Jobless Rate Hits 3-Year High to 7.3 Percent
Montreal — Canada’s unemployment rate posted a surprise increase last month as the nation continues to struggle with the impact of lower oil prices. The unemployment rate climbed to 7.3 percent in February, the highest since March 2013, following a 7.2 percent rate a month earlier and up from as low 6.6 percent last year, Statistics Canada said Friday from Ottawa. Employers eliminated a net 2,300 jobs, including more than 50,000...
Jobs Numbers Help to Dispel Recession Fear
Washington — A robust February jobs report showcased a resilient U.S. economy just as fears of a new recession had begun to surface. Economic reports in recent weeks had fueled anxieties about a looming downturn: Manufacturers were slumping. Stocks had plummeted. China was slowing sharply along with other emerging markets. The rising dollar had crushed exports. But last month, U.S. employers sent a clear message of confidence. They...
Stocks Lose Ground As Jobs Report Disappoints Market
New York — Stocks posted steep losses Friday, ending the week with broad declines, as investors fretted over a report showing that U.S. job creation slowed last month. Technology stocks fell especially hard, and shares of LinkedIn had their worst day in history. Energy and consumer discretionary stocks fell as oil prices declined and investors continued to worry that the risk of the U.S. economy slipping into recession, while low, is...
Economy Expected To Stay Steady in 2016
Washington — After a year free from government shutdowns and other self-inflicted wounds, the U.S. economy in 2016 is expected to power forward at a steady, albeit unspectacular pace. Given all the global uncertainty, steady is the new strong. A six-year U.S. economic expansion, long by historical standards, rolls on. Japan remains in the doldrums, China’s growth has slowed precipitously and emerging markets such as Brazil and Mexico...
Polartec Textile Plant to Leave Mass.
Lawrence, Mass. — The current owner of a Massachusetts textile factory that made national news 20 years ago when the former owner continued paying workers after a catastrophic fire has announced it is moving manufacturing out of state. The announcement Thursday by Polartec LLC came one day before the 20th anniversary of the blaze that destroyed the Lawrence company, then called Malden Mills. Polartec said it would move manufacturing...
