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After 378,000 jobs in September, the Canadian economy reportedly saw job additions decelerate to about 83,600 jobs in October, as per Statistics Canada. The fall in numbers brought Canada’s unemployment rate down from nine percent in September to 8.9 percent in October. The deceleration stems from the recent spike in coronavirus cases which led to many businesses in places like Toronto, Montreal, and Ottawa to shut down again.
* Canadian Merchandise Exports Up 1.5% In September Canada's merchandise exports rose to C$45.5 billion on the back of higher lumber and aircraft trade. Canadian merchandise imports also up 1.5% to C$48.8 billion. On a quarterly scale, exports increased by 26.8% in the third quarter while imports went up by 25.9%.
* BCE (TSX:BCE) Net Earnings Down 19.7% YoY In Q3 2020 Net earnings surged to C$5.7 billion in Q3 2020, from C$5.9 billion a year ago. The operating revenue slumped by 2.6% YoY to C$740 million in the latest quarter. Free cash flow at the end of Q3 2020 is C$1.03 billion, down from ~C$1.17 billion in Q3 2019.
