- Canada Jan Full-Time Jobs +30,900; Part-Time +36,000
- Canada Jan Avg Hourly Wages +2.0% From Year Ago
- Canada Jan Participation Rate At 65.6% Vs 65.4% In Dec
- Canada Jan Jobless Rate 5.8%; Dec 5.6%
Employment in Canada surged last month, led by the biggest one-month private-sector hiring ever recorded, while the unemployment rate climbed on a sharp increase in the number of younger people looking for a job.
The Canadian economy added a net +66.8K jobs in January – the market was expecting a net job increase of +5K.
Canada’s jobless rate climbed to +5.8% in January, from +5.6% m/m. The uptick is being attributed to more people looking for work.
An estimated +103K Canadians joined the labor force in January, the largest one-month gain in a decade.
CAD has rallied hard on the surprise number, up +0.6% to C$1.3241 – the loonie was trading at C$1.3303 ahead of the release.
