Employment Change, Unemployment Rate 4/2/2022

This article includes an explanation of both the employment report in the private sector, the unemployment rate and expectations for today's data, with a review of the data released during this week related to employment and the US economy

Employment Change

Determines the level of change in the level of people employed during the past month
Jobs is an important indicator of economic recovery as consumption, which is closely related to human resource conditions, makes up a large part of GDP
This report is one of the first reports to be published at the beginning of the month, which is related to the conditions of human resources, which makes the market sensitive to big surprises and increases liquidity when the decision is issued
The Canadian economy added 54.7 thousand jobs in December of 2021, following a 153.7 thousand gain in November and above market expectations of 27.5 thousand driven by gains in the goods-producing sector (+44,000). Full-time employment rose by 123,000 (+0.8%) in December, with the majority of the increase occurring among men of core working age (+95,000; +1.6%). On the other hand, part-time employment declined by 68,000 (-1.9%). Among core-aged men aged 25 to 54, employment increased by 63,000 (+1.0%), making it 162,000 (+2.5%) higher than in February 2020. Public sector employment rose by 32,000 (+0.8%), while there was little change in the number of private sector employees and the number of self-employed workers. Among workers who worked at least half their usual hours, the proportion who worked from home was little changed in December at 23.8%. Employment increased in Ontario and Saskatchewan, while it declined in Newfoundland and Labrador

Estimate for today's data is -121.5 thousand

In the event that the current issuance was higher than the estimate, it will positively affect the currency and vice versa

This statement is issued every Friday of the first month at 3:30 pm Beirut time

Unemployment Rate

Determines the proportion of the total workforce that is not employed and actively seeking a job during the past quarter
The unemployment rate in Canada fell to a new pandemic-low of 5.9% in December of 2021 from 6% in November, below market expectations of 6% and within 0.2 percentage points from the jobless rate recorded in February of 2020. It was the seventh straight month of declines, despite a surge in coronavirus cases amid the spread of the Omicron variant. Unemployed population shrank by 31,500 (-2.5% to 1,212,300), while the employed population increased by 54,700 (+0.3% to 19,371,000), far above market forecasts of a 27,500 addition. Meanwhile, the number of people in the labor force increased by was held steady from last month at 65.3%, a record-high for the core-aged population

The forecast for today's data is an average of 6.3%

In the event that the current rate is issued less than the estimate, it will positively affect the currency and vice versa

This statement is issued every Friday of the first month at 3:30 pm Beirut time

Tags : CAD