Canada: Net change in employment in January rises 66.8K vs 8K expected

Eren Sengezer FXStreet

"The number of people employed grew by 67,000 in January, mostly among youth aged 15 to 24 and in the services-producing industries," Statistics Canada reported on Friday.

Key takeaways from the press release

The unemployment rate increased 0.2 percentage points to 5.8% as more people looked for work.
On a year-over-year basis, total employment was up 327,000 or 1.8%, reflecting increases in both full-time (+166,000) and part-time (+162,000) work.
Over the same period, total hours worked were up 1.2%.
In January, the number of employees increased by 112,000 in the private sector, while it was little changed in the public sector for the third consecutive month.

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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