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A Look At Economic Developments Around The Globe

The Associated Press

A look at economic developments and activity in major stock markets around the world Friday:

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TORONTO ¿ Canada added a better-than-expected 27,100 jobs in August, one of the biggest gains since the recession began in the country last fall. But according to Statistics Canada, all of the jobs are part-time. The agency said Canada's unemployment rate edged up to 8.7 percent from 8.6 percent in July, as more Canadians began looking for work. Still, the addition of 27,100 jobs is well above the previous month's 45,000 job retreat. The result also beat consensus expectations of a 15,000 job loss last month.

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FRANKFURT ¿ The German services sector saw second-quarter sales fall 11 percent compared with a year earlier as the economic downturn continued to hurt demand. The Wiesbaden-based Federal Statistical Office said strong declines were seen in the business services sector, which saw sales fall 13 percent, while the transport and warehousing sector saw a 12 percent drop compared with the April-June period of 2008. The number of employed in the overall services sector declined by 2.3 percent, with business services jobs falling more than 6 percent and the transport and warehousing sector jobs dropping about 1 percent.

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