Canadian job growth stuns; government to aid banks (Reuters)

By Frank Pingue 7 minutes ago TORONTO (Reuters) - The Canadian economy created more than 10 times the number of jobs expected in September, figures released on Friday showed, while the government unveiled a plan to buy insured mortgages to help cushion banks from the global financial crisis. The headline number on the jobs report, followed by a solid trade surplus figure, seemed to defy concerns that global forces could sweep up Canada's relatively healthy banking system and push its economy into a sharp downturn. That could give a boost to Canada's governing Conservatives, who are looking to secure at least a minority government in next Tuesday's federal election. "The jobs number is telling you the economy was in OK shape before the proverbial you-know-what hit the fan. Now, looking forward, the crisis is in full swing,... [read full story]