Toward New Records

Canada's Bureau of Statistics last week reported employment at an alltime high, with 6,053,000 at work and unemployment running lower than Ottawa economists dared expect only a few months ago. The number of jobless Canadians dropped sharply last month to 234,000, which is 3.7% of the labor force, compared with 10% in March 1958. As the result of stronger demand for Canadian raw materials in the bullish U.S. recovery, Canadian exports to the U.S. surged to $321.1 million in June (v. $233.6 million in June 1958), and overall exports were up to a one-month record of $519.9 million. Canada's index of industrial production is up 7% over last year, and industrial capital investment is now expected to reach $8,545,000,000 by year's end--2.7% higher than Ottawa forecast at the beginning of the year. The economy of Canada, along with that of the U.S. (see BUSINESS), has climbed out of the recession and is running off toward new records.

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