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Canada Unemployment Falls And Wages +5.3%

CANADA DATA
  • Canada January employment beats forecasts for a +10K gain, increasing +37.3K mainly among part-time workers.
  • Unemployment decreased for the first time since Dec 2022 now +5.7% vs forecast +5.9%.
  • Wage gains are still hot, average hourly wages +5.3% YOY, prior +5.4%.
  • Hours worked +0.6% MOM, +1.1% YOY. 
  • Participation rate down by 0.2pp as the population grew +125.5K in Jan while labour force +18.2K. 

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