Jobs: Labor Department

Labor Department: The loonie was well off the worst levels of the session but still down 0.42 of a cent at 91.73 cents US. Earlier it fell to 91.36 cents US, its lowest level since September 2009, according to CTV. And in the U.S., the Labor Department said the American economy cranked out only 74,000 jobs as opposed to the 200,000 that economists had forecast and TORONTO -- The Canadian dollar dropped sharply Friday, falling well below 92 cents US amid major disappointments on Canadian and U.S. jobs data. Statistics Canada reported that the economy shed 45,900 jobs last month, a major miss as economists had expected it to have created about 14,600 jobs in December. The jobless rate came in at 7.2 per cent, up from 6.9 per cent in November. (www.immigrantscanada.com). As reported in the news.