- Analytics
- News and Tools
- Market News
- Canada's hiring turns negative in October - TD Securities
Canada's hiring turns negative in October - TD Securities
TD Securities' analysts note that the latest jobs report from Canada showed the country's labour market shed 1.8k jobs in October (consensus: +15k), and the underlying details were soft as the economy added part-time positions while losing full-time jobs.
- "The unemployment rate was unchanged at 5.5%. After an impressive run through the bulk of 2019, the labour market was due to fall back to earth at some point.
- The 6-month average pace of hiring still stands at 22k, which is slightly above the economy's trend pace - and with wage growth edging higher again in October the labour market is tight overall. We still expect the Bank of Canada to cut rates in January, but the state of the labour market is the least of their worries.
- CAD rates outperformed sharply versus the US following the data, and the poor print broadly fits with our theme of Canadian outperformance versus other developed markets."
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
