Canada net change in employment for December 2020
- prior report
- USDCAD trades at 1.2698 prior to the report
- Net change in employment -62.6 K vs. -37.5 K estimate
- Full-time employment +36.5 K vs. 99.4 K last month
- Part-time employment -99.0 K vs. -37.4 K last month
- Unemployment rate 8.6% vs. 8.7% estimate. Last month 8.5%. The unemployment rate is up from 5.6% in February 2019. The record high reached 13.7% in May
- Hourly wage rate permanent employees 5.4% vs. 5.0% estimate. Last month 4.8%
- Participation rate 64.9% vs. 65.0% estimate. Last month 65.1%
- employment fall is the 1st decline since April
- full-time employment the client led by losses among youth aged (-58K), and those over 55 (-27K)
- 1.1 million workers were affected by Covid 19 economic shut down
- self-employment fell by -62K
- service jobs fell -74K, the 1st decline since April
- manufacturing employment increase +15 K
- goods producing sector was little changed in December
- at the height of Covid 19 in April 41.6% of people work at least half their hours from home. The current number stands at 28.6% up from 25.6% in September
- For the full report, CLICK HERE
The USDCAD has moved up from 1.2686 to a high of 1.27044. The pairs 100 hour moving average is currently at 1.27027. The current price is trading right around 1.2700 level. A move above the 100 hour moving average (and staying above) would be needed to tilt the bias more to the upside. Yesterday the price moved above the moving average for about 9 trading hours before giving way, and retracing the gains for the day. The Price action today has been confined to an up and down trading range (see hourly chart below).
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