Unemployment rate at 6.8% vs 7.0% estimate
- Full time employment change -8.7K vs -23.1K prior
- Part time employment change +19.4k vs 67.1k prior
The Canada employment report showed a gain of 10.7K jobs vs expectations of -15K. The mix was not great with -8.7k full time jobs. This was on back of a -23.1K number last month. The part time jobs were stronger at 19.4K. The prior month also showed a gain with 67.1K. The better news is the unemployment rate fell to 6.8% from 7.0%. The participation rate fell to 65.6 from 65.8 last month
Overall, a positive report but will come with "but...if only________ it would have benn better"
The USDCAD has moved lower with the general move after both the US and the Canadian numbers.
