Canada employment report for January 2019
- prior report +17.5K net change in employment revised to 27.3 K versus 35.2 K previously reported
- net change in employment 34.5 K versus 17.5 K estimate
- full-time employment change 35.7 K versus 33.9 K revised. Was 38.4 K previously.
- part-time employment change -1.2 K versus -6.5 K revised. Was -3.2 K previously
- unemployment rate 5.5% versus 5.7% estimate
- hourly wage rate permanent employees YoY 4.4% versus 3.6% estimate. 3.8% last
- participation rate 65.4 versus 65.6 estimate. Prior month 65.5
the unemployment rate has move back down to the September 2019 level of 5.5%. It moved to 5.9% in November which was the high point for 2019. So on a downward trajectory again.
The job gains continue to recover from the November decline of -54.4K. The last 2 months have seen a cumulative rise of 61.8K retracing those declines.
The wage gains of 4.4% is the highest since 4.54% seen in July 2019.
The USDCAD moved lower on the headlines and cracked below its 100 hour moving average at 1.32843. However, the price has since moved back above that level (and is trading above the broken trend line as well).
