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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
- The Canadian labour report was far stronger than expected in January, most notably the employment figures.
- Jobs increased by 150k (cons 15k) after last month’s downward revised 69k, and were primarily driven by full-time positions (+121k).
- That concentration in full-time positions and sickness-related absenteeism closer to seasonal norms helped see hours worked rise 0.8% M/M, the strongest since May and a positive for monthly GDP growth.
- Contrary to tepid real GDP growth in 2H22 and an economy expected to see little growth in 1H23, the six-month average of 50k is the highest since July in a surprise upturn from the ~10k of the fall.
- An equally large jump in the labour force meant that the u/e rate was unchanged despite this strength, although at 5.0% it was a tenth lower than the 5.1% expected and remains just 0.1pp off series lows of 4.9% from the summer.
- That low level of u/e rate was more impressive considering the participation rate increased 0.3pps to 65.7% back to where it had been in late 21/1H22 and at least pushing back closer to pre-pandemic levels.
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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