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CANADA DATA: Employment Insurance Up in Aug, +1.5% MOM, +5.6% YOY

CANADA DATA
  • Employment insurance recipients +1.5% MOM in August or by 7.4K. This is the third increase in four months after holding relatively steady from September to April.
  • YOY recipients +5.6% led by manufacturing and utilities and sciences.
  • Recent headline job report (Labour Force Survey) had shown that employment and unemployment rates both fell 0.1 pp to 61% and 6.5% respectively in September.
  • BOC says economy remains in excess supply and the job market has softened with unemployment increases focused in youth and newcomers.
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  • Employment insurance recipients +1.5% MOM in August or by 7.4K. This is the third increase in four months after holding relatively steady from September to April.
  • YOY recipients +5.6% led by manufacturing and utilities and sciences.
  • Recent headline job report (Labour Force Survey) had shown that employment and unemployment rates both fell 0.1 pp to 61% and 6.5% respectively in September.
  • BOC says economy remains in excess supply and the job market has softened with unemployment increases focused in youth and newcomers.