Canada December employment change 54.7K vs 24.5K estimate

Canada job gains
  • Employment change 54.7K versus 24.5K estimate
  • Unemployment rate 5.9% versus 6.0% estimate. The pre-pandemic level was 5.7%
  • the adjusted unemployment rate which includes people who wanted a job but did not look for one was at 7.6%. This marked the first return to the pre-pandemic level.
  • full-time 123K. Full-time employment as trended up since June and is248K higher than pre-pandemic levels
  • part-time -68K. Part-time employment has been mostly flat since June remains virtually the same level as in February 2020
  • services jobs +10K
  • goods producing +44K
  • public-sector employment rose 32K. The number of private sector employees is 307K above its pre-pandemic levels, due to gains in public administration, educational services as well as healthcare and social assistance
  • private sector employees were near unchanged, but up 178K from pre-pandemic levels
  • self-employment employment is down -245K from pre-pandemic levels
  • participation rate held steady at 65.3%. This was also virtually the same as before the pandemic
  • average hourly earnings rose 2.7% year on year

For a look at the full report CLICK HERE

The USDCAD moved lower on the data releases (both in the US and Canada). The price moved from 1.2704 down to the low for the day at 1.2677, but has since spite back higher and trades at 1.2723 currently. Of course traders are reacting to the US jobs report as well as the week nonfarm payroll number is offset by the much lower unemployment rate.

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