Canada Nov employment report now out 1 Dec
- 35.3k prev
- Unemployment Rate 5.9% vs 6.2% exp vs 6.3% prev
- full time employment change 29.6k vs 88.7k prev
- part time employment change 49.9k vs -53.4k prev
- Participation Rate 65.7% vs 65.7% prev
Wow. Big numbers adding to the better GDP data but the participation rate unchanged at 65.7%. Also worth noting that the big swing is is part-time jobs and a drop in full-time which isn't so clever.
The Participation Rate is the percentage of the total number of people of labour-force age (15 years and over) that is in the labour force (either working or looking for work). The data provided by Statistics Canada is monthly and de-seasonalized; this eliminates the impact of seasonal variations and makes it possible to compare data throughout the year.
USDCAD has collapsed down to 1.2782 and failing to get back above 1.2800 as I type. Don't forget those 1.2850 option expiries that may yet play out with over an hour to go.
Highlights from the Stats Canada report:
- In November, employment increased for women 55 and older, for youth aged 15 to 24, and for core-aged men (25 to 54). There was little change for the other demographic groups.
- Employment rose in Ontario, British Columbia, Quebec and Prince Edward Island. At the same time, fewer people were employed in New Brunswick, while there was little change in the other provinces.
- A number of goods- and services-producing industries recorded employment gains: wholesale and retail trade, manufacturing, educational services, and construction. On the other hand, a decrease was observed in agriculture.
- The employment increase in November was largely among private sector employees, as both public sector employment and the number of self-employed were little changed.
Full report here
