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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
- Released earlier today, the Canadian unemployment rate only increased from 5.46% to 5.52% contrary to consensus of 5.6%.
- It came as employment growth of 40k was double that of consensus and mostly kept up with the labour force increasing 54k (in turn as the population surged by 103k).
- However, the details appear more hawkish still, as the increase in the unemployment rate was led by a sharp bounce in the 15-24 cohort (from 10.2 to 11.25%) and less so the 55+ group (from 4.4% to 4.7%).
- Instead, the prime age 25-54 group - typically those with greatest debt obligations - saw the unemployment rate unwind some of July’s notable increase, falling from 4.78% to 4.52%.
- However, whilst it shows a more hawkish picture than the overall number when looking at the latest change, the two are similar in trend terms when compared to pre-pandemic levels: the prime-age rate is -0.3pps below Feb’20 vs -0.2pps for the overall unemployment rate.
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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