Canadian jobs market report for November was released today at 1:30 pm GMT. Report was expected to show a slightly smaller employment gain than in October, as well as an uptick in the unemployment rate. The release was watched closely as it was the final key Canadian data release ahead of next week's BoC rate decision.
Actual data turned out to be better-than-expected with employment change beating estimates and unemployment rate matching them. Moreover, this employment gain was driven entirely by full-time jobs. CAD gained following the release with USDCAD moving lower.
Canada, jobs data for November
- Employment change: +24.9k vs +15.8k expected (+17.5k previously)
- Full-time employment: +59.6k vs -3.3k previously
- Part-time employment: -34.7k vs +20.8k previously
- Unemployment rate: 5.8% vs 5.8% expected (5.7% previously)
Source: xStation5
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