Highlights of the November 2015 Canadian jobs report:
- Prior was +44.4K
- Unemployment rate 7.1% vs 7.0% exp
- Prior unemployment rate was 7.0%
- Full time jobs +36.6K
- Prior full time jobs +9.0K
- Part time jobs -72.3K
- Prior part time jobs +35.4K
- Participation rate 65.8% vs 65.9% expected
- Prior participation rate was 66.0%
Separately, the Q3 labour productivity report was out and closed 0.1%. It was expected to rise 0.3% q/q.
The rough part of the Canadian employment report isn't the headline, it's the unemployment rate. Participation fell two ticks yet unemployment rose. That's a negative for the Canadian dollar.
The 35.7K drop in employment isn't so bad when you factor in the part/full time skew. Adding 36,600 full time jobs is an impressive month.
