Canada November employment +24.9K vs +15.0K expected

<ul><li><a href="https://www.forexlive.com/news/canada-october-employment-175k-vs-225k-expected-20231103/" target="_blank" rel="follow">Prior </a>+15.0K</li><li>Unemployment rate 5.8% vs. 5.8% expected — highest since January 2022</li><li>Prior unemployment 5.7%.</li><li>Full-time employment +59.6K vs -3.3K last month</li><li>part-time employment -34.7K vs. +20.8k last month.</li><li>Participation rate 65.6% vs 65.6% last month.</li><li>Average hourly wages permanent employees 5.0% vs 5.0% y/ last month</li></ul><p>This is another good jobs report and will give the Bank of Canada some pause next week if they're thinking about shifting to a neutral stance and make the same mistake they made in early 2023. The jobs are all full-time which is particularly impressive but much of what's happening in Canada is due to population growth. As StatsCan noted, "growth in the population continued to outpace employment growth."</p><p>Employment increased in manufacturing (+28,000) and construction
(+16,000). There were declines in wholesale and retail trade (-27,000) and finance, insurance, real estate, rental and leasing (-18,000).</p><p>USD/CAD was trading at 1.3546 ahead of the release and has fallen to 1.3536 since.</p>

This article was written by Adam Button at www.forexlive.com.