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The Daily Chase: Canada sheds 212,800 jobs in January; Robinhood lifts curbs
Canadaâs economy has a brutal start to the year, as we learned this morning that 212,800 jobs were wiped out last month. Itâs the worst showing for the labour market since March and April when a combined 3 million positions were eliminated. No surprise, that the services industry was hardest hit in January, with almost 168,000 lost jobs in the wholesale and retail industry sectors alone. This is what COVID-19âs impact looks like right now. Weâll have in-depth analysis throughout the day. Meanwhile, over the U.S., non-farm payrolls rose by just 49,000.
The Daily Chase: Canada sheds 212,800 jobs in January; Robinhood lifts curbs
Canadaâs economy has a brutal start to the year, as we learned this morning that 212,800 jobs were wiped out last month. Itâs the worst showing for the labour market since March and April when a combined 3 million positions were eliminated. No surprise, that the services industry was hardest hit in January, with almost 168,000 lost jobs in the wholesale and retail industry sectors alone. This is what COVID-19âs impact looks like right now. Weâll have in-depth analysis throughout the day. Meanwhile, over the U.S., non-farm payrolls rose by just 49,000.
Its stock jumped more than 8% in after-hours trading.
Demand for Peloton s exercise equipment has surged during the coronavirus pandemic, straining its supply chain, as consumers look to work out at home during the pandemic.
As part of the deal, Peloton will acquire Precor s factories in Whitsett, North Carolina, and Woodinville, Washington, which combined have more than 625,000 square feet of manufacturing space. The deal also boosts Peloton s product development efforts, by adding nearly 100 research-and-development employees to its existing staff.
The deal is expected to close in early 2021. Once it is completed, Precor will operate as a business unit within Peloton, the company said.