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Canada Produces Whopping 94,000 New Jobs, CAD Rallies

By Dean PopplewellMarket OverviewDec 07, 2018 09:52
ca.investing.com/analysis/canada-produces-whopping-94000-new-jobs-cad-rallies-200197984
Canada Produces Whopping 94,000 New Jobs, CAD Rallies
By Dean Popplewell   |  Dec 07, 2018 09:52
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November Full-Time Jobs +89,900; Part-Time +4,100

  • Canada November Average Hourly Wages +1.7% From Year Ago
  • Canada Labor Force +77,200 In November From October
  • Canada November Participation Rate At 65.4% vs 65.2% In October

Canadian job growth surged last month, exceeding market expectations by a wide margin, as gains in full-time hiring helped push the unemployment rate to its lowest level in more than 40 years.

The Canadian economy added a net 94,100 jobs in November vs. expectations for an increase in employment of +10,000.

Canada’s jobless rate fell to 5.6% in November, down from 5.8% in the previous month. Market expectations were for the jobless rate to remain at 5.8%.

Meanwhile, average hourly wage growth decelerated to 1.7% y/y, down from 2.2% in October.

The loonie has rallied aggressively, 0.85% to C$1.3306.

USD/CAD for Dec. 6-7, 2018.
USD/CAD for Dec. 6-7, 2018.

Stateside, U.S. Treasury yields and dollar are heading back down after the weaker-than-expected jobs figures (+155K vs. +198Ke). The yield on the 10-year is at +2.883%, after eclipsing +2.90% earlier this morning. The Dollar Index is down -0.2% after rising earlier in the day.

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Canada Produces Whopping 94,000 New Jobs, CAD Rallies
 

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Canada Produces Whopping 94,000 New Jobs, CAD Rallies

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Babylon Falls
Babylon Falls Dec 07, 2018 15:30
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And in other news, Santa Claus is real, and the Tooth Fairy is releasing a book next near titled, "Pillows and Plaque:Confessions of the Tooth Fairy"
 
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