USD/CAD plummets on Canadian jobs report

Canadian jobs market is on fire

By the numbers:

  • Canada Jul Net Jobs +54,100 From Jun
  • Canada Jul Net Jobs Forecast At +17,000
  • Canada Jul Full-Time Jobs -28,000; Part-Time +82,000
  • Canada Jul Jobless Rate 5.8%; Jun 6.0%
  • Canada Jul Jobless Rate Forecast At 5.9%
  • Canada Jul Avg Hourly Wages +3.2% From Year Ago
  • Canada Labor Force +19,100 In Jul From Jun
  • Canada Jul Participation Rate At 65.4% Vs 65.5% In Jun
  • Job creation flew by market expectations in July as large gains in part-time and public sector positions helped push down the unemployment rate by two-tenths.

    Canada added a net +54.1K jobs in July on a seasonally adjusted basis. The market was looking for a net gain of +17K.

    Canada’s new jobless rate fell to +5.8% in July, down from +6% in June. The market was looking for an unemployment rate of +5.9%.

    The loonie is off from its intraday low of C$1.3122 and currently trading C$1.3062 immediately after the release.