- Prior was +66.6K
- Unemployment rate 6.5% vs 7.0% expected
- Participation rate 65.1% vs 65.3% prior
- Full time -9.4% vs -18.5K prior
- Part time +63.0K vs 85.1K prior
- Average hourly wages for permanent employees 4.00% vs 4.00% prior
There were a pair of weak reports in July/August followed by a pair of strong ones in Sept/Oct, leaving everyone guessing what the real trajectory of hiring in Canada is. This report provides an emphatic answer. It’s another big jobs gain and a tumble in the unemployment rate. The fall in joblessness is flattered by declining participation but it still runs in the opposite direction of what markets were expecting.
This article was written by Adam Button at investinglive.com.
