What can one say about the Canadian jobs report?
Mad as a bag of spiders it is. The full time/part time merry-go-round drives me nuts. Switching between up thousands one month and down the next. We’ll, they are a strange lot over there, as I’ve found working with one, but they seem charming enough. Probably a good upbringing from when we used to own them
There’s only a marginal 0 – +5k change expected today vs +43.1k prior. The participation rate is expected to stay steady at 66.0% and the unemployment rate is expected to rise a tick to 6.6%. Whatever craziness happens within the numbers the unemployment rate gives a good idea on the state of Canadian jobs.
Canadian unemployment rate
All jokes aside, the jobs market is looking fairly healthy and this could be yet another good report in the long line of good reports we’ve seen this month. What we would like to see is the full time numbers starting to develop a trend and get away from these constant swings. If we do then that’s going to be another bullish signal for the BOC. Given what I’ve been seeing from Canada recently, particularly with inflation, they could have a good chance of steaming up from the back to take first place in the rate rise race. Something to watch for in 2015
For today, the Canadian report is going to be caught up in the NFP whipsaw so bear that in mind when trading the CAD
