Canadian April employment report:
- Prior was -7.2K
- Unemployment rate 5.7% vs +5.8% expected
- Hourly wage for permanent employees 2.6% vs +2.3% expected
- Participation rate 65.9% vs 65.7% prior
- Full time +73.0K vs -6.4K prior
- Part time +33.6K vs -0.9K prior
This is a great report. USD/CAD has dove down to 1.3400 from 1.3465. It's the biggest one-month jobs gain on record, dating back to 1976.
Some details:
- Quebec unemployment fell to 4.9% from 5.2% and is now the lowest on record
- Ontario added 47K jobs, primarily due to part time work in 15-24 segment
- Alberta employment up 21K
- Youth unemployment rate of 10.3% is lowest on record
- The unemployment rate for people aged 55 and older decreased by 0.2 percentage points to 5.3% as more people participated in the labour market.
- Employment was up by 32,000 in wholesale and retail trade in April
- Construction +29K
- Private sector +84K
- Public sector +23K
