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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
- Canada jobs growth was much weaker than expected in May at -17k (cons +21k) after 41k, the first decline in nine months but with the six-month average still at +50k and a margin of error of 31k.
- Full-time positions led the decline with -33k after -6k with part-time roles adding +15k. It means that over the prior three months, full-time positions shrank by 20k whereas part-time roles have increased by 79k.
- Unsurprisingly then hours worked have have come under pressure with May’s -0.4% M/M the fastest monthly decline since Apr’2022.
- Labour force growth was however also on the softer side at +18k which limited the rise in the u/e rate from 4.99% to 5.15% (reported 5.2%), i.e. only a limited surprise compared to consensus of 5.1%. The BoC has been focused on labour market balance and this sees the u/e rate increase but only off July’s series low of 4.9%.
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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