Canada: Employment increased for a third consecutive month, up 79,000 in December

Eren Sengezer FXStreet

"Employment increased for a third consecutive month, up 79,000 in December," the Statistics Canada reported on Friday.

The unemployment rate continued on a downward trend, decreasing by 0.2 percentage points to 5.7%, the lowest since comparable data became available in January 1976.

The employment increase in December was concentrated in part-time work, which rose by 55,000.

In the 12 months to December 2017, employment was up 423,000 (+2.3%), with nearly all the gains in full-time work (+394,000 or +2.7%). Over the same period, total hours worked grew 3.1%.

The unemployment rate followed a downward trend in the 12 months to December, falling 1.2 percentage points over this period.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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