- Prior was +104.0K (revised to 69.2K)
- Unemployment rate 5.0% vs +5.1% expected (prior 5.0%)
- Full time 121.1K vs +84.5K prior
- Part time 28.9K vs +19.5K prior
- Participation rate 65.7% vs 65.0% prior
- Avg hourly wages 4.5% y/y vs +5.2% prior
- +25.4K in construction
- +124.7K in service sector
The Bank of Canada has already signaled a pause so the market shouldn't be particularly sensitive to this month's data, but this is a really strong reading and the participation rate is now back to pre-pandemic levels, despite some negative demographic changes.
USD/CAD is down 77 pips to 1.3374 on the headline as the market mulls whether Macklem has made yet-another mistake in explicitly signaling a pause in rate hikes.