BREAKING: Canadian unemployment rate above expectations

2:43 PM 4 February 2022

We have just learned the January data from the Canadian economy. The data showed a decline in employment and the unemployment rate accelerated to 6.5%.

- Canadian Net Change In Employment Jan: Actual: -200.1K (Est -110.0K; Prev 78.6K)
- Unemployment Rate Jan: Actual: 6.5% (Est 6.3%; Prev 6.0%)
- Full Time Employment Change: Actual: -82.7K (Prev 142.8K)
- Part Time Employment Change Jan: Actual: -117.4K (Prev -64.3K)

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- Canadian Hourly Wages Rate Perm. Employees Jan: Actual: 2.4% (Est 2.1%; Prev 2.7%)
- Participation Rate Jan: Actual: 65.0% (Est 65.2%; Prev 65.4%)

Good data from the US and worse data from Canada strengthen the US dollar against CAD. Source: xStation 5

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