Latest Canada employment report for September 2021
- prior report 90.2K
- unemployment rate 6.9% versus 7.1%. The unemployment rate fell for the fourth consecutive month. This was the lowest rate since the pandemic began. The peak reached 13.7% in May 2020. Pre-pandemic the unemployment rate was near 5.7%.
- Employment change 157K versus 60 K estimate
- Full-time 193.6K versus 68.5K last month
- Part-time -36.5 K versus 21.7K last month
- public-sector +78,000. The public-sector employment is 257K higher than February 2020
- private-sector +98,000. The private-sector employees returned to its pre-pandemic levels for the first time
- self-employed is -241K its its pre-pandemic levels after a little change report today
- the participation rate increase to 65.5% from 65.1%
The employment gains took the employment levels back to the same level as in February 2020. However, the employment rate-that is, the proportion of the population aged 15 and older that was employed-was 60.9% in September, 0.9 percentage points lower than in February 2020, due to population growth of 1.4% over the past 19 months.
A better Canada jobs report with a weaker US report has the USDCAD moving lower on the news (higher CAD). The price has now moved below its 200 day moving average at 1.25116. It approaches its 100 day moving average at 1.24805. The 50% midpoint of the move up from the June low comes in at 1.24772. A move below each of those levels increases the bearish bias. Close risk would be a move back above the 200 day moving average at 1.25116. Sellers more control.
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