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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
- Employment growth was again stronger than expected in April, rising 41.4k (cons 20k) but was led by part-time with full-time jobs slipping -6k for the first time since August.
- Employment strength also once again came with a similarly sized increase in labour supply (47k), going in-sync with still very strong population growth with the working age population currently +2.0% Y/Y.
- The combination left the u/e rate unchanged (4.99% after 4.98%) vs expectations of a slight rise to 5.1%, leaving it just a tenth off July’s 4.9% low.
- Wage growth also offered a stronger than expected outturn, holding at 5.2% Y/Y for permanent employees (cons 4.8%).
- It leaves Gov Macklem waiting a bit longer to see a further moderation in wage growth, something he reiterated yesterday as an important requirement in order for inflation to fall the rest of the day to 2%.
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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