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May Payroll Employment Fell, in Contrast to Headline LFS Report

CANADA DATA
  • Payroll employment -4.1% MOM in May, in contrast to earlier headline
    Labour Force Survey showing +1.8%.
  • Divergence may be in contrast with LFS data that includes some people
    who are absent from work as employed, Statistics Canada said Thursday.
  • May was when some provinces began re-opening after Covid-19 shutdown.
  • Payroll data shows employment -19.4% YOY
  • Hours worked -2.0% MOM and -16.9% since Feb
  • Still, gain in June payrolls seems likely with LFS for June showing +953k on top of May's +290k.
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com

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