Betting on the Canucks

Investors may want to add Canada to their portfolios as private-sector employment in the nation increased by 108,700 in April. This is the highest increase since 1976, when records first started to be kept. Joblessness fell to 8.1 percent from 8.2 and Part-time work rose by 64,800; with full-time employment by gaining 43,800 new jobs. Retail companies led the increase in the work force, followed by business and construction companies. This positive economic news has analysts estimating that the Bank of Canada will raise interest rates as early as next month. Canada is also projected to be the fastest-growing member among the Group of Seven, according to The International Monetary Fund. Its economy is projected to grow 3.1 percent in 2010 and 3.2 percent in 2011. Aside from the recent bullish job news, the nation is rich in natural resources and particular steady banking sector. Investors wanting to add a dash of Canada to a portfolio have a few choices. The broad-based iShares MSCI Canada Index

gives a portfolio a wide swath of top Canadian companies and has rallied nearly 13.5 percent over the last three months. Investors wanting to add the nation’s small caps can do so via the IQ Canada Small Cap ETF

.