Highlights from the February 2017 Canadian employment report

  • Prior was +48.3K
  • Estimates ranged from -35K to +25K
  • Unemployment rate 6.6% vs 6.8% expected
  • Full time +105.1K
  • Part time -89.8K
  • Participation rate 65.8% vs 65.9%

Very strong report. This was coming off two consecutive reports that were both close to +50K. The drop in unemployment plus the monster gain in full-time jobs is the kind of thing that will finally get the BOC seeing things on the bright side.

Just looking at full-time jobs, it's the largest rise since May 2006.