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MNI BRIEF: Canada Dec Payrolls Show Strength Relative to LFS

(MNI) OTTAWA
OTTAWA (MNI)

Canada's payroll employment rose 44,200 in December, much stronger than the earlier headline Labour Force Survey showing a decline of 53,000, Statistics Canada reported Thursday.

The LFS reports for December and the January decline of 213,000 sparked fresh concerns about wider slack in the economy around the turn into 2021 amid tighter Covid-19 restrictions, which have only recently started to lift.

Payroll figures showed hours worked, which many economists consider a better proxy for GDP, were little changed in December and down 5.3% from before the pandemic.

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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