Canada December employment change 90.9 vs 25.0K estimate

• Prior month 50.5K
• Employment Change 90.9K vs 25.0K estimate. 3rd gain in the last 4 months
• Unemployment Rate 6.7% vs 6.9% estimate. Last month 6.8%
• Full time employment 57.5K vs 54.2K last month
• Part time employment 33.5K vs -3.6K last month.
• Average hourly earnings YoY 3.7% vs 3.9% last month
• Participation rate 65.1% vs 65.1% last month

Details:

• Educational services: +17,000 jobs (+1.1%)
• Transportation and warehousing: +17,000 jobs (+1.6%)
• Finance, insurance, real estate, rental, and leasing: +16,000 jobs (+1.1%)
• Health care and social assistance: +16,000 jobs (+0.5%)

And more:

• Overall employment: Increased by 413,000 (+2.0%) year-over-year in December 2024, comparable to December 2023 (+2.1%) and the pre-pandemic average for December (2017-2019) of +1.9%.
• Public sector employment:
  • Rose by 40,000 (+0.9%) in December, marking the second consecutive monthly increase.
  • Up 156,000 (+3.7%) year-over-year, driven by gains in educational services and health care and social assistance.
• Private sector employment:
  • Little changed in December (+27,000; +0.2%).
  • Increased by 191,000 (+1.4%) year-over-year.
• Self-employment:
  • Rose by 24,000 (+0.9%) in December, the first increase since February.
  • Total self-employment gains for the year amounted to 64,000 (+2.4%).

Geographically:

• Alberta: +35,000 jobs (+1.4%)
• Ontario: +23,000 jobs (+0.3%)
• British Columbia: +14,000 jobs (+0.5%)
• Nova Scotia: +7,400 jobs (+1.4%)
• Saskatchewan: +4,000 jobs (+0.7%)
• Manitoba: -7,200 jobs (-1.0%)
• Employment remained little changed in other provinces.
• Total hours worked: Increased by 0.5% in December and 2.1% year-over-year.
• Average hourly wages: Up 3.8% year-over-year (+$1.32 to $35.77) in December, following 4.1% growth in November (not seasonally adjusted).

The USDCAD was trading at 1.4409 prior to the report that

This article was written by Greg Michalowski at www.forexlive.com.