Canada Jobless Rate Reaches Lowest Since 2008 On Youth Dropouts

Canada Upholds Law Against Assisted Suicide

Its disappointing at this stage of the economy to see such weak labor force growth. Slowing job creation and signs of discouraged workers come a week after the Bank of Canada cut its economic growth forecast for the rest of the year with Senior Deputy Governor Tiff Macklem citing an elusive pickup in exports and investment. Employment growth has slowed after domestic spending and employment gains pulled Canada out of a recession triggered by the 2008 global financial crisis. The unemployment rate declined as fewer youths searched for work, Statistics Canada said in its report today. Currency, Bonds Canadas dollar strengthened 0.1 percent to C$1.0386 versus its U.S. counterpart at 12:03 p.m. in Toronto. One Canadian dollar buys 96.28 U.S. cents. Government benchmark two-year bond yields were unchanged at 1.20 percent. The participation rate fell to 66.4 percent from 66.6 percent, reaching the lowest since February, 2002. That development is very disappointing, Watt said in an e-mail. I would have thought that more would have been getting drawn back into the labor force, he said. Instead the labor force is not keeping pace with the population. The jobs number confirm the softening trend in the domestic economy, said David Tulk, chief Canada macro strategist with TD Securities in Toronto. Todays data probably wont have major implications for the Bank of Canada, he said.

The case will now likely go to the Canadian Supreme Court, which last considered the issue of assisted suicide in 1993. The federal government had appealed the decision from the B.C. Supreme Court, which ruled last year that safeguards could be put in place to protect against the risks associated with doctor-assisted dying. Justices Mary Newbury and Mary Saunders agreed in the decision released Thursday that while the law banning assisted suicide has certainly evolved in the last two decades, it hasn’t changed enough to undermine the 1993 decision from Supreme Court of Canada. “As the law now stands, there does not appear to be an avenue for relief from a generally sound law that has an extraordinary, even cruel, effect on a small number of individuals,” the judges wrote in a joint ruling. When the Supreme Court of Canada last considered the issue of assisted suicide, the judges were split in favor of upholding the current law in a case involving Sue Rodriguez. Rodriguez, who also had Lou Gehrig’s disease, also known as ALS, gripped Canadians as she fought in court for the right to assisted suicide. She lost her appeal but took her own life with the help of an anonymous doctor in 1994, at the age of 44. The judge concluded the law must allow physician-assisted suicide and physician-assisted death also known as voluntary euthanasia in cases involving patients who are diagnosed with a serious illness or disability and who are experiencing “intolerable” physical or psychological suffering with no chance of improvement. The earlier decision said patients in such scenarios must personally request physician-assisted death, must be free from coercion and cannot be clinically depressed. Rodriguez had argued that the law should be struck down as a violation of the charter, but the court ruled against her.

CANADA STOCKS-TSX flat with eye on U.S. budget talks; golds weigh

“The TSX is of course adversely affected today by the drop in precious metals in particular … you also had that announcement by Potash pre-warning,” said David Baskin, portfolio manager and president of Baskin Financial Services “Add that all up, and that’s why Canada is not following the U.S. uphill.” After recording its biggest jump in three months in the previous session, the Toronto Stock Exchange’s S&P/TSX composite index finished the session down 2.30 points, or 0.02 percent, at 12,892.11. President Barack Obama and congressional Republican leaders worked to end their fiscal impasse on Friday but struggled to strike a deal on the details for a short-term reopening of the government and an increase in the U.S. debt limit. Failure to raise the borrowing limit would have serious repercussions for the fiscal standing of the United States, the world’s biggest economy, and for markets and economies of the United States and other nations worldwide. Investors, who are also looking ahead to the start of the earnings session soon, hesitated to make calls until there was certainty about a resolution to the crisis. “We’re certainly sitting on the sidelines,” said David Cockfield, managing director and portfolio manager at Northland Wealth Management. “I just keep my head down for the moment.” “I want to see some actual results before I make up my mind how this is going to turn out,” he added. “I don’t think it’s over until it’s over.” Five of the 10 main sectors on the index were higher Friday. The financial sector gained 0.4 percent, with Royal Bank of Canada climbing 0.5 percent to C$68.03. Energy shares added nearly 0.5 percent, with TransCanada Corp rising 1.2 percent to C$45.33. Encana Corp added 2.1 percent to C$18.30. The two companies were among the most influential movers on the index.