- Prior reading was -30.4K
- Unemployment rate 7.3% vs 7.3% exp
- Full-time -12.5K vs +21.3K prior
- Part-time +46.7K vs -51.6K prior
- Participation rate 66.6% vs 66.5% prior
- Separately, Canadian building permits -2.3% vs -1.5% exp
Mixed report, the drop in full time jobs is a disappointment despite the headline. The rise in the participation rate along with a flat unemployment rate is positive.
Overall, we have some major volatility in full-time/part-time jobs over the past two months. Smoothing it out over two-months is a better metric; +8.8K full-time, -4.9K part-time. Basically flat for two months.
USD/CAD unable to break 0.9800.
