Bank of Canada: Statistics Canada

Statistics Canada: OTTAWA - Canada gained a modest 12,500 new jobs in April and the unemployment rate held steady at 7.2 percent, Statistics Canada reported on Friday, the latest sign the economy is on track for only tepid growth in the second quarter, according to Reuters. "This is pretty consistent with an economy that has been growing below potential, and we're not looking for any move from the Bank of Canada until the second half of 2014, so this wouldn't change any of that," said BMO Capital Markets senior economist Robert Kavcic and By Randall Palmer The increase in hiring, slightly lower than forecast, meant Canada recovered just some of the 54,500 jobs estimated to have been lost in March, making it unlikely the central bank will act anytime soon on its threat to eventually raise interest rates. (www.immigrantscanada.com). As reported in the news.