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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 SEPH report showed a strong bounce in payroll employment with +129.9k in May after a downward revised -66.6k (initially -140.3k). The PSAC strikes have meant large swings in federal govt public administration roles - strip those out and payroll roles increased 24k in May after 32k.
- Vacancies saw a measured further decline, with the rate down another tenth to 4.3% for its lowest since May’21 but still above the low 3%s in the run up to the pandemic. (Broadly similar relative trends when looking at vacancies per unemployed as well).
- Wage growth using fixed weights eased from 4.7% to 3.7% Y/Y although the series has been volatile, oscillating between 2.7-4.1% Y/Y in recent months.
- The volatility of fixed-weight wages makes it hard to read too much into any given month but it’s trending at a rate that is more comparable with the latest moderation in the more timely June data from the main labour report, when a variety of wage measures slower ~1pp to 3.9-4.2% Y/Y.
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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