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.”