Free Trial
MNI

Coming up in the Asia-Pac session on Friday:

ASIA

Coming up in the Asia-Pac session on Friday:

EURJPY TECHS

Bearish Extension

USDJPY TECHS

Recent Lows Still Intact

AUSSIE 10-YEAR TECHS

(H2) Approaching The Key Bear Trigger

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

MNI BRIEF: Canada Pre-Omicron Job Market Outpaces Expectations

(MNI) Ottawa

December Sees Employment Climb For Seventh Straight Month.

True
Sign up now for free access to this content.

Please enter your details below and select your areas of interest.

Canada's jobless rate declined for a seventh straight month in December, beating market expectations, in a survey taken early in the month before the omicron variant forced a new wave of social distancing restrictions across the country.

Employment rose by 54,700 and the jobless rate fell 0.1pp to 5.9%, the lowest since the pandemic and within sight of the modern record low of 5.4%, Statistics Canada reported Friday. Markets expected 15,000 jobs and no change in unemployment.

Wages climbed 2.7% from a year earlier, similar to the recent trend and above the central bank's 2% inflation target. The figures follow a trade report Thursday that also showed surprising economic resilience at the end of last year. Employment rebounded 4.8% in 2021 with 886,000 jobs following the plunge in 2020 as Covid-19 emerged.