Highlights of the December Canadian employment report:
- Prior reading was -10.7K
- Full-time employment +53.3K
- Part-time employment -57.7K
- Unemployment rate 6.6% vs 6.6% exp
- Prior unemployment rate was 6.6%
- Participation rate 65.9% vs prior participation rate of 66.0%
This report isn’t nearly as weak as it seems. The massive gain in full-time jobs offsets the headline weakness. The caveat is that unemployment would have risen if not for the decline in the participation rate.