• Prior was +60.4
  • Unemployment rate 6.9% vs 7.1% expected (prior 7.1%)
  • Participation rate 65.3% vs 65.2% prior
  • Full time -18.5K vs +106.1K prior
  • Part time +85.1K vs -45.6K prior
  • Hourly wages for permanent employees % vs +3.6% prior

USD/CAD was trading at 1.1402 ahead of the report.

The numbers in this report have yo-yo'd for months, making it tough to get a clean read on what's happening with Canadian hiring. On net, it's weakening but not to a frightening degree. There have been signs of layoffs though so it's tough to have any confidence in hiring.

The Bank of Canada cut rates this month but is now on the sidelines.

Canada unemployment rate
Canada unemployment rate
Canada jobs created and lost
Source: Investing Live