42000 Jobs Sheds in Canada

In May 2009, Canada economy sheds 42000 jobs and this put Canada Unemployment at 8.4% from 8% the previous month. But the market was expected to shed 36500. The employment report comes a day after the Bank of Canada announced it would keep its benchmark rate unchanged at a historic low of 0.25 per cent in an attempt to spur business and consumer spending. However, the central bank warned the strengthening Canadian dollar could offset recent positive developments in the economy. Still USDCAD is hovering between 1.004 to 1.041