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7 Feb 2020
Canada: Strong rise in employment – NBF
Matthieu Arseneau, an economist at the National Bank of Canada Financial Markets reviews the data released by the North American country. USD/CAD is trading around 1.3305 with these figures having little impact.
Key quotes
“Canada’s employment rose strongly in January (+35K) according to the Labour Force Survey, above consensus expectations calling for an 18K rise.”
“The jobless dropped one tick to 5.5% with the participation rate dropping one tick to 65.4%.”
“Hourly earnings were up 4.4% year-on-year, an eight ticks increase compared to a month ago.”