Canada sheds 42,000 jobs in August while U.S. sees burst of hiring

The Canadian economy’s labour market lost its steam in August, breaking a string of upbeat job reports ahead of the latest escalation of the trade war with the United States. Canada lost a net 42,000 jobs in August, falling short of economists’ expectations of a gain of 15,000 positions, Statistics Canada reported on Friday. The unemployment rate held steady at 6.4 per cent. It was a different story in the U.S., where employers added 162,000 jobs in August, coming in hotter than expectations of 55,000 jobs, the U.S. Bureau of Labour Statistics also reported on Friday. The U.S. unemployment rate...