Details of the December Canadian employment report:
- Prior was -35.7K
- Unemployment rate 7.1% vs 7.1% exp
- Prior unemployment rate 7.1%
- Full time jobs -6.4K vs +36.6K prior
- Part-time jobs +29.2K vs -72.3K prior
- Participation rate 65.9% vs 65.8% prior
The Bank of Canada decision is on Wed, Jan 20. The full time jobs are on the soft side but it comes after a great month. Overall, the BOC wants to believe the economy is doing just fine and they will fell more comfortable and the strength of the jobs market after this reading.
It's good news for the Canadian dollar but it's all about broad USD moves and sentiment after non-farm payrolls.
