09.01.2025 – Employment Data from Canada (December):
- Employment Change: 8,2k (Expected: -5,5k; Previous: 53,6k)
- Full-Employment Change: 50,2k (Previous: -9,4k)
- Part-Time Employment Change: -42k (Previous: 63k)
- Average Hourly Rate: 3,7% (Previous: 4%)
- Participation Rate: 65,4% (Previous: 65,1%)
- Unemployment Change: 6,8% (Expected: 6,6%; Previous: 6,5%)
Most recent data from Canada’s labour market proven surprising. Market expected decline in employment, as well as large shift into part-time roles, but data publication showed the opposite. Employment increased and there was a very large shift into full-time employment. Average rate also increased, although less than expected. Participation rate increased slightly. In light of this data, the increase in unemployment above expectation proves especially perplexing.
Market interpreted the data as a sign of strength of Canadian economy. CAD notes slight gains to USD.
USDCAD (M1)
Source: xStation5
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