The number of Americans filing for unemployment benefits fell for the third week in a row, but claims are still above end-of-summer levels even though California said it fixed computer problems that kept thousands of applications in limbo. “The good news is that businesses aren’t slashing jobs at a troublesome rate,”  “The bad news is that they also aren’t hiring at a rapid clip.” (Market Watch). Jobless claims have gyrated sharply since early September, mainly because of processing delays in California, the nation’s most populous state. The delays were caused by a buggy computer-systems upgrade. The government shutdown also triggered some layoffs at companies that rely heavily on federal contracts.

PM Stephen Harper isn’t just out to keep his PC’s in power on Parliament Hill, according to Paul Wells. In The Longer I’m Prime Minister: Stephen Harper and Canada, the veteran political commentator and author argues that Harper wants to ensure that conservative political values are firmly entrenched in Canada in the long term. Harper “didn’t want to be another flash-in-the-pan Conservative” who sees his initiatives undone by Liberal successors after he leaves office, Wells said. “He wanted to get the Canadians used to the notion of a Conservative prime minister by being one for a long time.”  Now the Senate scandal might derail his plan. (CBC)

Sincerely, Philip Magnoli – My friends call me Don Filippo- The FX Specialist. 416-362-1300

Ref- Market Watch – CBC – the Wall Street Journal