Canada September employment +53.7K vs +7.5K expected

Author: Adam Button | Category: News

Jobs data for September 2019:

Canada employment
  • Prior was +81.1K
  • Unemployment rate 5.5% vs 5.7% expected
  • Hourly wages for permanent employees +4.3% vs +3.8% expected (prior +3.8%)
  • Full time jobs +70.0K
  • Part time jobs -16.3K
This is a sensational report. The headline is sizzling but full time jobs are even better. Unemployment fell and wages are surging. There was a 9% chance of a Bank of Canada cut this month; that should go to zero and the 22% chance of a cut before year end will go there as well provided this US-China deal gets done.

The bottom has fallen out of USD/CAD on the heels of this report; it's down to 1.3215 from 1.3290 beforehand.

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