Canada’s unemployment rate rose to 6.7% in October from 6.5%, InvestingLive reports, citing Statistics Canada. Employment was little changed, down 4,700 versus a 13,600 gain expected. Private-sector jobs fell 53,000 while public-sector employment rose 50,000. Annual hourly wage growth slowed to 2.2% from 2.3%, before seasonal adjustment. The report points to labour-market slack, although energy inflation complicates the Bank of Canada’s policy outlook.
Related currencies / asset groups: CAD
Michalowski argues weaker private employment and slower wages favour caution on further Bank of Canada tightening.
InvestingLive reports October employment down 4,700 versus a 13,600 gain expected, with unemployment at 6.7% versus 6.5% previously.
InvestingLive / ForexLivePrivate-sector employment fell 53,000 while public-sector employment rose 50,000.
InvestingLive / ForexLiveAnnual hourly wage growth slowed to 2.2% from 2.3% in September, before seasonal adjustment.
InvestingLive / ForexLiveLimitation: Energy-driven inflation remains an offset to the weaker labour data.
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