Canada net change in employment
- prior report
- Canada change in employment 83.6 K vs. 75.0 K estimate. Last month 378.2 K
- full-time 69.1 K vs. 334 K last month. Down -3.1% year on year
- part-time 14.5 K vs. 44.2 K last month. Down -3.4% year on year
- unemployment rate 8.9% vs. 9.0% estimate
- hourly wages 5.2% vs. 5.4% estimate
- participation rate 65.2% vs. 65.0% estimate
- 23% of workers wanted full-time work but were unable to find it. That is up 5.6% from 12 months earlier
- unemployment increased in 5 provinces (Ontario, British Columbia, Alberta, Newfoundland, and Prince Edward Island)
- employment growth stalled and transportation and warehousing and in construction, while it resumed in retail trade
- employment exceeded pre-Covid levels in wholesale trade, professional scientific and technical services, and educational services
- goods producing jobs added 17.6 K vs. 75.1 K last month
- service producing jobs added 60 6K vs. 303.1 K last month
- change in unemployed -15.8 K vs. -214.3 K last month
- private sector jobs added 76.3 K vs. 259.8 K last month
- public sector jobs subtracted 25.6 K vs. +143.6 K last month
The statistics are marginally better than the pre-report estimates. However the data sharply lower from prior month's. Of the job gains, it's encouraging that most the job gains was centered in full-time employment. Last month 334,000 jobs of the 378,200 gain was also in full-time employment.
The full report from Statistics Canada can be found here
The USDCAD has moved a bit lower after the US and Canada jobs reports. The level was around 1.3062 to a low of 1.30474. It is currently trading at 1.3050.
