CANADA - Good news for Canadians worried about the economy... Canada's unemployment rate fell 0.3% in September according to Statistics Canada. This is the first monthly decline in the jobless rate since the start of the American Recession and the Housing / Mortgage Industry meltdown. The unemployment rate in August was 8.7%, in September it was 8.4%.
Joblessness is the worst in Windsor Ontario, hurt badly by the automotive industry layoffs, where unemployment is currently 14.3%.
In Canada we can thank the opposition Liberals for forcing the Conservative government to create a stimulus package to boost the Canadian economy. Similar results are also expected in the United States with US job numbers come out soon, which will be due to Barack Obama's stimulus package helping Americans get back to work.
In related news...
AUTOMOTIVE - General Motors has signed a deal to sell its Hummer SUV brand to a Chinese company.
Sichuan Tengzhong Heavy Industrial Machinery Co. is purchasing 80% of Hummer, including trademarks, trade names, intellectual property rights. The other 20% of Hummer has been sold to Suolang Duoji, a private investor.
General Motors is now partially owned by the USA and Canadian governments.
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