Moody’s warns of continued high unemployment

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Canada’s economy will grow by 1.5 to 2 per cent this year and unemployment will continue to be higher than normal. That’s according to an updated forecast from Moody’s Investors Service which says that oil prices and weaker-than-expected growth in the US will have a negative impact on Canada. The credit agency forecasts that unemployment will fall between 6.5 and 7.5 per cent over the next two years; currently it is at 6.8 per cent.

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