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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CANADA DATA
- StatsCan have revised the latest three years of Labour Force Survey data for latest seasonal factors.
- Of note, “seasonal patterns in the most recent two years (2022 and 2023) are returning to pre-pandemic patterns”.
- The revisions have had little impact on overall employment growth, although it’s seen slightly stronger in recent months: 6.8k in Dec vs 0.1k, 24k in Nov vs 25k and 24k in Oct vs 18k.
- There’s a greater impact in the full-time/part-time split, with some of the full-time volatility smoothed. Over Q4, full-time jobs added 51k of the 55k overall, that’s from a pre-revision 33k of 43k.
- The revisions leave the unemployment almost exactly where it was first estimated for Dec (5.77% vs 5.78%). The increase over 2023 is fractionally shallower with the rate 0.1pp higher in April at 5.1% vs 5.0% before pushing to current levels, but it doesn’t alter the overall trend (and it’s still above 0.5 for those following a Sahm rule).
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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