The July unemployment figures from Canada were lousy at best. Employment in Canada was down 39,400 in July, the expectation from economist was a net gain of 10,000 jobs. As result, the unemployment increase from 7.1% to 7.2%. Private sectorjobs increased, but government experienced significant losses. The reporthighlights tepid growth and minimum consumer confident. The Canadian dollar has depreciated 40% against the U.S. dollar in current trading.