Highlights of the November 2015 Canadian jobs report:

  • Prior was +44.4K
  • Unemployment rate 7.1% vs 7.0% exp
  • Prior unemployment rate was 7.0%
  • Full time jobs +36.6K
  • Prior full time jobs +9.0K
  • Part time jobs -72.3K
  • Prior part time jobs +35.4K
  • Participation rate 65.8% vs 65.9% expected
  • Prior participation rate was 66.0%

Separately, the Q3 labour productivity report was out and closed 0.1%. It was expected to rise 0.3% q/q.

The rough part of the Canadian employment report isn't the headline, it's the unemployment rate. Participation fell two ticks yet unemployment rose. That's a negative for the Canadian dollar.

The 35.7K drop in employment isn't so bad when you factor in the part/full time skew. Adding 36,600 full time jobs is an impressive month.