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- Canadian unemployment rate declined to 6.8% in January. USD/CAD down 70 pips after the news
Canadian unemployment rate declined to 6.8% in January. USD/CAD down 70 pips after the news
Employment rose by 48,000 (+0.3%) in January, building on gains observed in the latter part of 2016. The unemployment rate fell by 0.1 percentage points to 6.8%.
On a year-over-year basis, employment rose by 276,000 (+1.5%), with most of the increase occurring from August to January.
Following a significant increase in December, full-time employment held steady in January. Compared with 12 months earlier, full-time employment was up 86,000 (+0.6%), with increases totalling 141,000 since August.
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