The August Canadian jobs report highlights
– Prior was -31.2K
– Unemployment rate 7.0% vs 7.0% exp
– Prior unemployment 6.9%
– Participation rate 65.5% vs 65.4% prior
Good report. This was as well as anyone could have hoped for. The problem is that if you take the past two months, the net is -5K jobs and -19.2K full time jobs. However, that was priced in so there are positives here. The unemployment rise is a function of higher participation.
