Canada April employment 15.3K vs. 55.0 K estimate

• prior report 72.5K
• employment change 15.3K vs. 55.0K estimate.
• Unemployment rate 5.2% vs 5.2% estimate. Last month came in at 5.3%. The rate is a new record low
• full-time employment -31.6K vs 92.7K last month
• part-time employment 47.1K vs -20.3K last month
• participation rate 65.3% vs 65.4% last month
• the adjusted unemployment rate – which includes people who wanted the job but did not look for one - came in at 7.2% below the pre-pandemic levels 7.4%
• unemployment rate for those 25 to 54 continues to fall. The rate fell -0.2% to 4.3% in April which was the lowest recorded rate since comparable data became available and 1976
• goods producing -16.0 K. Construction fell -20.7 K. Manufacturing was up 4.7 K.
• service +31.4 K. Public administration +16.5 K. Information, culture and recreation +12.6 K. Education services +12.5 K. Professional, scientific and technical services +15.1 K. On the negative side wholesale and retail trade -17.9 K. Healthcare and social assistance -11.5 K
• average hourly wages 3.4% vs. 3.7% last month

Overall the data is a bit mixed with lower jobs gains but the unemployment rate at record low levels.

Concerns for the BOC is the impact of inflation. The unemployment rate at record low levels and concerns about a tighter labor market going forward as a result of retirees, the BOC can not afford to have a too hot economy (housing is still a big fuel). As a result, the central bank will likely continue their course of following the Fed higher.

/Inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term