Unemployment rate 5.8% vs 5.8% estimate.
The Canada net change in employment came in much better than expected. The USDCAD has moved lower on the news (and weaker US data).
- net change in employment, +55.9 K versus estimate 1.2 K. Prior month 66.8 K
- unemployment rate 5.8% versus 5.8% expected. That is unchanged from the previous month
- hourly wage rate 2.2% versus 1.7% expected. This is up from 1.8% last month
- participation rate 65.8 versus 65.6 estimate. Last month 65.6
- full-time employment change 67.4 K versus 0.8K est. Prior month 30.9K
- part-time employment -11.6K vs -5.7K est. Prior month 36.0K
Highlighs from the report:
- Ontario was the sole province with a notable employment gain in February. Employment declined in Manitoba, and was little changed in the remaining provinces.
- More people were employed in professional, scientific and technical services; public administration; natural resources; and agriculture. At the same time, there were fewer workers in accommodation and food services, as well as transportation and warehousing.
- The overall number of employees increased, while self-employment was little changed.
- Employment rose for both women and men aged 15 to 24, while it was little changed for the other demographic groups.
The USDCAD has tumbled down to the 100 hour MA on the report (and weaker US data).
